OKEx extended its real-time settlements for 22 new perpetual swaps

OKEx extended its real-time settlements for 22 new perpetual swaps
Written by:
Ali Raza
January 14, 2021
  • Crypto derivatives exchange OKEx recently added 22 new perpetual swaps to its real-time settlement feature.
  • The move comes after the exchange recently added support for ADAUSD.
  • With the trial successful, the exchange decided to take the next step and expand the feature.

A leading crypto derivatives exchange, OKEx, recently decided to extend its feature that ensures real-time settlements. The feature will now support up to 22 more perpetual swaps, including ATOMUSD, ALGOUSD, as well as THETA, XLM, and more, from 8 am to 9 am UTC yesterday, January 13th.

OKEx aims to include all futures, options, and perpetual swaps

Real-time settlements have proven to be very beneficial and highly-desirable in the crypto industry. The feature allows traders to take advantage of emerging opportunities and react quickly to beneficial price changes.

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OKEx previously added support for the ADAUSD perpetual contract, and the move has been a major success for the exchange and its traders alike.

Of course, OKEx doesn’t plan to stop here. The exchange’s goal is to cover all futures, options, and perpetual swaps, eventually. And, thanks to the move, users do not have to wait until 4 pm for the daily settlement period to arrive. Profits can be withdrawn at any time.

Positive feedback caused the exchange to move forward

The exchange’s head of financial markets, Lennix Lai, commented on the move by saying that the platform is very pleased to expand the feature. Lai noted that this will open up greater trading opportunities for the exchange’s users, which includes cross-exchange arbitrage. The feedback has been extremely positive when it comes to ADAUSD, and so OKEx decided that it is time for the next step.

With the feature added, users will be able to see the average open price change to the settlement base price of the perpetual contracts. Meanwhile, any profits or losses will be transferred to the users’ perpetual swap account balance, with the profit recalculated in accordance with the opening average price on the same day.

Best of all, users can take advantage of the feature by using the mobile app, web, or API. Lai concluded the statement by saying that the exchange plans to continue working on new ways to improve the trading experience for its users.