Connect with us
Active Currencies 13538
Market Cap $2,782,615,484,745.80
Bitcoin Share 49.79%
24h Market Cap Change $1.97

OKEx to launch options trading from 27 December

2min Read

Share this article

The Malta-based spot and futures digital asset exchange, OKEx announced on 9 December that it will be adding cryptocurrency options. The service will be available on the platform from 27 December with a simulation beginning on 12 December. With options trading, OKEx will become the first crypto exchange to offer C2C, spot, futures, perpetual swap, and options trading. The exchange’s announcement read:

“OKEx Options will offer both buy and write options, which enhances trade flexibility and market transparency with trade prices that closely reflect market trends. OKEx’s version is a major improvement upon other platforms that only support buy options.”

OKEx has been dealing with the risk of manipulation of closing price by averaging spot data from various platforms to get a fair settlement price for its options products. The exchange noted that the options mark price was determined by it in real-time using the “Black-Scholes pricing model.” The exchange’s CEO, Jay Hao claimed that the decision followed the growing demand for derivative products, especially from institutional clients. The CEO added:

“Options is a unique instrument that enable traders to manage, price and hedge the volatility of crypto assets with a combination of option contracts. It also gives a trader the ability to take advantage of more than just market direction. As the crypto market evolves, we aim to build a complete derivatives product suite, delivering solutions to optimize users’ trading strategies. OKEx Options is a major step towards this goal.”

Recently, OKEx’s rolled-out support for XRP with leverage set at 0.01x-33.3x. The team also launched BTC/USDT Futures Trading contracts on its platform, following the launch of EOS/USDT Futures trading. The BTC/USDT trading pair for Futures contract had a leverage level of 0.01-100x. Apart from BTC, OKEx supported Ethereum [ETH], Litecoin [LTC], EOS, Bitcoin Cash [BCH], XRP, and Ethereum Classic [ETC] for trading on USDT-margined Futures market.

Share

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.