OKEx, the second largest crypto choices buying and selling platform after Deribit, is increasing its choices buying and selling sorts.
Beginning July 24, OKEx options new crypto choices buying and selling alternatives together with day by day choices, two-day choices, and month-to-month choices.
OKEx now options seven expiration date choices
Saying the information on Friday, OKEx mentioned that the three new expiration dates observe beforehand launched weekly, bi-weekly, quarterly, and bi-quarterly choices.
The brand new choices intend to advertise market liquidity and supply extra decisions to execute varied buying and selling methods. The introduction of shorter expiration dates additionally goals to decrease the brink for choices buying and selling, enabling merchants to take part with smaller funds, OKEx mentioned.
Three buying and selling pairs for brand new choices contracts
In response to a preliminary announcement on July 23, the brand new choice contracts can be utilized to a few buying and selling pairs like Bitcoin (BTC)/USD, Ether (ETH)/USD, and EOS/USD. The primary one-day choice contracts and two-day contracts will expire on July 25 and July 26, respectively. The primary month-to-month choices on OKEx are topic to the expiration date of Aug. 28, the alternate famous.
OKEx CEO Jay Hao highlighted that the alternate has been targeted on diversifying merchandise on the platform. In response to the chief, the prevailing array of companies are “nonetheless removed from sufficient.” Hao mentioned:
“OKEx is a one-stop buying and selling platform, accommodating customers of all ranges from entry-level to establishments {and professional} merchants […] We won’t quit the chance to proceed optimizing our total product line.”
Cointelegraph reached out to OKEx with extra queries and can replace the article pending any new data.
OKEx actively pushing the derivatives market
One of many world’s largest crypto exchanges by day by day buying and selling volumes, OKEx initially launched crypto choices buying and selling in late 2019. The cryptocurrency alternate has managed to overhaul some main platforms for buying and selling crypto choices together with ICE’s Bakkt in addition to one of many earliest Bitcoin futures suppliers, the Chicago Mercantile Trade, or CME, Group.
In response to knowledge from crypto statistics web site Skew, OKEx is the second largest crypto buying and selling quantity by BTC choices volumes after Deribit alternate up to now. Weekly translation quantity of OKEx’s BTC/USD choices now account for $40 million, the alternate mentioned.
BTC choices volumes. Supply: Skew
OKEx has been actively pushing the crypto derivatives market. In June 2020, the platform rolled out Ether and EOS choice contracts buying and selling. Earlier this yr, the alternate added bi-quarterly contracts for each choices and futures buying and selling.