OKEx Expands to Malta Following Binance

OKEx found the Malta government’s approach appealing and decided to grow OKEx exchange further on Malta
12 April 2018   1109

At the end of March 2018 we have reported that the Binance cryptocurrency exchange was planning to open offices in Malta. It seems like the sunny island is very attractive for the exchanges, as OKEx has also announced today that it has met with Maltese government and regulatory leaders to discuss their legislative plans. OKEx found the Malta government’s approach appealing and decided to grow OKEx exchange further on Malta.

We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.
 

Chris Lee

CEO, OKEx

Moreover, OKEx plans to become a member of Malta Blockchain community, and the exchange will also participate in Malta’s Government sponsored DLT Delta Conference which will be held in October, 2018.

The Hon. Silvio Schembri  meets with OKEx Chief Risk Officer Tim Byun and Vice President Jason Lau Silvio Schembri meets with OKEx Chief Risk Officer Tim Byun and Vice President Jason Lau

Malta is striving to become a "blockchain island", for instance, the new Malta Digital Innovation Authority certifies blockchain platforms used by companies in the country. The government of Malta really wants to bring some peace of mind to businesses using distributed ledgers for cross-border payments.

OKEx to Launch BTC Options Trading for Some Clients

The company says that option trading will allow users to implement a variety of strategies; the customers were choosen initially
26 December 2019   218

This Thursday, the OKEx cryptocurrency exchange announced the launch of bitcoin options on its main platform after the successful completion of the trading period in simulation mode.

The tool is currently available to a limited number of customers who have received invitations. Its full launch will take place on January 9, 2020.

The company says that option trading will allow users to implement a variety of strategies, from simplified to advanced, and present a complete update of the platform architecture, which is characterized by increased speed and reliability.

The OKEx Options platform will use an enhanced anti-manipulation mechanism based on the Black-Scholes pricing model. This model implies that if the underlying asset is traded on the market, then the option price on it is implicitly set by the market itself.

Unlike futures, where both parties are required to fulfill the terms of the contract, the option gives its buyer the right, but not the obligation, to buy or sell the asset at a predetermined price at a certain point in the future. In this case, the option seller cannot refuse to fulfill the terms of the contract. He compensates for additional risks with the premium that the buyer gives him when concluding the contract.

Options are a unique instrument that enables traders to manage, price and hedge the volatility of crypto assets [...] to take advantage of more than just market direction. We welcome clients from different segments, especially from our institutional clients, who have shown the fastest-growing demand in derivatives trading, especially on futures and perpetual swaps.

 

Lennix Lai

Financial market director of OKEx

 

He also promised that in 2020 OKEx will introduce new products and technological achievements to its customers.

In addition to options, OKEx currently supports leverage on the spot market, as well as futures and perpetual contracts.