On Monday, Malta-based crypto exchange – OKEx – announced a new derivative product to be launched in December.
According to the company, it will expand its derivative products offered at the platform with a perpetual swap, which will be one step closer to the full pack of crypto products that can be used at the exchange.
As OKEx representative commented, perpetual swap represents p2p virtual derivative which is quite similar to futures contracts. At the same time, such swap is believed to be more effective having no expiration date. With this instrument, traders will be able to speculate the direction of crypto prices, in particular, Bitcoin ones.
"With the new offering, investors and traders can select the products which best fit their trading and hedging strategies. However, we would like to remind our users that due to its high leverage nature, implementing risk control strategies are equally crucial in trading,” said the financial Market Director at OKEx.
Along with no expiry perpetual swaps features daily payments which definitely pays into traders hands since they can get their money every day. The platform sets leverage at 1:100. The value of OKEx swap-contract is $100 in terms of Bitcoin.
With this new product, OKEx can offer such services as marginal spot trading, futures and perpetual swaps.
The launch of perpetual swaps is slated for December 11 2018, as the company announced.