Malta-based cryptocurrency change OKEx introduced that it’ll launch crypto choices buying and selling on Dec. 27.
In a press launch on Dec. 9, the change stated that the addition of choices makes OKEx the “first crypto change to supply C2C, spot, futures, perpetual swap, and choices buying and selling underneath the identical roof.”
The choices will enable the platform’s customers to purchase or promote an underlying asset after paying a premium. While actual choices buying and selling will start on Dec. 27, simulated buying and selling is scheduled to start out in simply three days, on Dec. 12.
A significant improve for OKEx
To implement choices, the agency reportedly upgraded its complete system and infrastructure, together with the addition of an anti-price manipulation system.
The possibility worth is set in real-time by using the Black-Scholes pricing mannequin, which considers volatility, possibility sort, underlying asset worth, time, strike worth and risk-free charge. OKEx CEO Jay Hao commented:
“Options is a novel instrument that allow merchants to handle, worth and hedge the volatility of crypto belongings with a mix of possibility contracts. It additionally provides a dealer the power to benefit from extra than simply market route. As the crypto market evolves, we intention to construct a whole derivatives product suite, delivering options to optimize customers’ buying and selling methods.”
Users desirous to entry OKEx’s choices buying and selling service should first endure Know Your Customer procedures and go a suitability check proving that they perceive the merchandise they’re shopping for.
The competitors within the cryptocurrency derivatives area is seeing an ever-growing variety of merchandise being introduced and launched. In one of many newest examples, the Chicago Mercantile Exchange Group introduced that it expects to launch choices on its Bitcoin futures on Jan. 13, 2020.