back Back

OKEx unveils real-time settlement function for contracts

By Pavithra R

December 29, 2020

  • Africa
  • Okex
Share

Lennix Lai, Head of financial markets at OKEx

OKEx, a leading digital asset exchange, has announced the launch of real-time settlement for all perpetual swaps, futures and options contracts to its platform. 

The launch is expected to provide a better trading experience for users, improving the capital efficiency of their funds and enable greater cross-exchange arbitrage opportunities, along with other benefits. 

“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. We will start with the ADAUSD market as a trial and gradually launch other major tokens from early next month,” said Lennix Lai, the head of financial markets at OKEx.

Real-time settlements will allow users to improve fund utilization significantly, as they can withdraw their profit at any time, without waiting every day for the 4:00 pm UTC settlement period. It will officially begin at 8:00 am UTC today on ADAUSD perpetual contract. Any user holding an ADAUSD perpetual contract position at 8:00 am UTC today will see the average open price of the position changed to the settlement base price of the last settlement of the ADAUSD perpetual contract. Users can experience the real-time settlement function of the ADAUSD perpetual contract by using a web, an API, or the OKEx mobile app.

“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,” added Lennix Lai.

The firm has plans to roll out the functionalities to other major currency pairs and financial instruments on the platform over the coming months. 

Founded in 2017, OKEx is a leading digital asset exchange, providing advanced financial services to traders worldwide leveraging blockchain technology. The firm believes that blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and will have a significant impact on the global economy. According to company data, OKEx has nearly $1.5b daily trading volume and provides 100’s of trading pairs.

Previous Article

December 29, 2020

Tinkoff Mobile rolls out 2.0 version of Oleg voice assistant

Read More
Next Article

December 29, 2020

ICICI Bank and Google Pay enable FASTag issuance via UPI

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Africa

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 24, 2024

Capital on Tap partners with Plaid in the UK

Read More

May 24, 2024

PPRO and Afterpay team to bring BNPL solution to US consumers

Read More

May 24, 2024

Boodil launches innovative Travel Payments Platform

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023