OKEx to Launch Perpetual Swap

Perpetual swaps are futures contracts with no specific expiration dates and with the possibility of withdrawal at any time
04 December 2018   928

OKEx bitcoin exchange will offer users new cryptocurrency derivatives - perpetual swaps. Product launch is scheduled for December 11th.

Perpetual swaps are futures contracts with no specific expiration dates and with the possibility of withdrawal at any time. In addition, 100-fold leverage will be available to traders.

Financing fees will be charged daily at 9:00 UTC, and the funding rate will be updated at 9:59 UTC.

This marks a key milestone for OKEx. The launch of perpetual swap demonstrates our continuous commitment to building a complete financial ecosystem for blockchain and crypto. 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.
 

Lennix Lai

Financial Market Director, OKEx

The new mechanism of forced liquidation of open positions also implies partial liquidation in order to minimize the impact of the procedure on the market.

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   605

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.