Futures buying and selling is one in every of the widespread buying and selling actions in conventional monetary markets, and it’s no completely different when it comes to the cryptocurrency world as properly. At the moment, there are many platforms that provide cryptocurrency futures buying and selling choices, and the chief amongst them by an enormous margin is OKEx, which has managed to acquire the tag of the world’s largest futures cryptocurrency trade.
?Crypto spinoff market reported quantity exceeds $20 billion in the wake of bitcoin value decline#bitcoin #btc $BTC #BItMEX pic.twitter.com/8seKkX52ZH
— CoinGecko | coingecko.eth (@coingecko) November 22, 2019
OKEx takes the prime spot on Nov 22, 2019 – CoinGecko information
The platform’s declare for fame is additional supported by a spread of options provided to its prospects. These options are designed to assist them optimize their buying and selling practices to place worthwhile trades whereas minimizing related dangers to an extent. In actual fact, the most up-to-date crypto futures providing on OKEx is the USDT-Margined futures which went stay earlier this month. A few of the salient options of this providing embrace zero.01-100x leverage, face worth as much less as zero.0001 BTC, Tice Dimension of zero.1, linear contracts and intuitive buying and selling expertise. The crypto futures contracts on OKEx additionally provide a whole lot of flexibility to the merchants, thanks to the platform’s measurement, userbase, and assist for an countless record of cryptocurrencies that may be paired towards one another in varied combos.
In accordance to firm sources, most of the new options are launched based mostly on the inputs and suggestions obtained from the group. This has led to quite a few developments in the latest previous, which have had a direct bearing on the usability, comfort, and profitability of merchants. Earlier this 12 months, OKEx shifted from weekly settlements (10 AM on Fridays) to every day settlements (10 AM day-after-day) in CEST time. By doing so, the platform ensured that merchants aren’t starved of their very own funds for a whole week, which they will now use to open extra trades.
As well as, OKEx has additionally put in a whole lot of thought into additional bettering the crypto futures buying and selling platform. The Futures and Perpetual Swap Buying and selling Market Information on the platform additional empowers the merchants by giving them entry to essential market data that can be utilized to predict and make higher buying and selling selections. There are additionally plans to develop algo orders function for futures buying and selling in addition to perpetual swap buying and selling, one other function requested by OKEx prospects. The launch of algo buying and selling will open the doorways for commerce automation, enabling the customers to place extra orders on a well timed foundation based mostly on market parameters predefined by them.
Enhanced Threat Administration
There have been another developments in the earlier 12 months which has enhanced the buying and selling expertise on OKEx to a big extent, as the platform efficiently tried to create a stability between customers’ curiosity and market dangers. So as to reduce the impression of sudden market fluctuations on merchants and their open orders, the platform launched few threat administration options like Mark Worth, Tiered Upkeep Margin Ratio (TMMR) System and Compelled Partial Liquidation. Since the implementation of those options, there was a major enchancment in the efficiency of the OKEx Futures market as the cases of early liquidation and clawbacks had been nearly diminished to zero.
The brand new threat administration system proved itself after BTC crashed by over 20% from USD 7800 to USD 6100 in a span of 10 minutes following an enormous 5000 BTC dump on BitMEX. On this scenario, the system was in a position to stabilize the quarterly contract value at a value of USD 7000 with no clawbacks. The flash crash didn’t have a lot impression on OKEx’ futures buying and selling value as the new Mark Worth function units the cryptocurrency’s market value based mostly on the present value on 5 main exchanges viz., Gemini, Coinbase, Bitstamp, Kraken, and OKCoin.
Chart: CoinGecko (Dec 2, 2019)
All these developments and superior service have positively performed a job in maintaining OKEx forward of its opponents, securing prime locations in the record of High 5 platforms for crypto derivatives by commerce volumes. By persevering with the identical path, the platform is predicted to proceed dominance in the close to foreseeable future.