Crypto derivatives exchange OKEx introduces real-time settlement

2020-12-31 23:49

OKEx. a popular cryptocurrency spot and derivatives exchange, has announced the launch of real-time settlement for all its perpetual swaps, futures, and options contracts.

This new feature will provide a better trading experience for users, improve the capital efficiency of their funds, and enable greater cross-exchange arbitrage opportunities, among other benefits.

Real-time settlements officially began at 8:00 am UTC on December 29th on the popular ADAUSD perpetual contract. The function will then be rolled out to other major currency pairs and financial instruments on the platform over the coming months.

Real-time settlements will allow users to significantly improve fund utilization, as they can withdraw their profit at any time, without waiting for the 4:00 pm UTC settlement period every day.

“This is hugely beneficial to traders carrying out cross-exchange arbitrage, as they need to settle their profit in real-time across exchanges. It will also enhance capital management across the OKEx platform,” commented Lennix Lai, the head of financial markets at OKEx. “We will start with the ADAUSD market as a trial and gradually launch other major tokens from early next month.”

As real-time settlements began, any user holding an ADAUSD perpetual contract position saw the average open price of the position changed to the settlement base price of the last settlement of the ADAUSD perpetual contract. All realized profit and loss will be transferred to the ADAUSD perpetual account balance, and the profit will be recalculated according to the new opening average price from 8:00 am UTC on the same day.

“We are constantly working on improving the user experience and making trading on the platform as intuitive and beneficial to traders as possible. By being able to withdraw their realized profit instantly and not having to wait for the settlement period, users can engage in more efficient strategies to maximize their capital. The introduction of real-time settlements is another key upgrade at OKEx, and we believe that it will be extremely popular among users,” Lennix Lai added.

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