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Cryptocurrencies

Crypto exchange OKEx purchases derivative product

Tuesday 4 December 2018 | 11:50 AM CET

Malta-based cryptocurrency exchange OKEx has announced on 3 December 2018 the launch of a new derivative product, called Perpetual Swap trading.

Perpetual Swap is a peer-to-peer virtual derivative, which is meant to enable users to speculate the direction of the price of digital assets. Its mechanism is similar to a futures contract, however it has no expiry and daily settlement. Each swap contract has a notional value of USD 100 Bitcoin (BTC) equivalent.

The product allows users to perform perpetual swaps, futures contract, and spot trade with margin and leverage simultaneously. Moreover, contract trading allows users to purchase and sell digital currencies at predetermined prices at specified times in the future, thus giving investors and traders an opportunity to open both long and short positions.

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