The crypto exchange platform OKX launched OKX Futures on December 15, 2023. This move, aimed at refining its derivatives trading platform, promised to streamline the exchange's offerings.
OKX's overhaul introduced two essential changes: Perpetual Futures, replacing the former Perpetual Swap Contracts, and Expiry Futures, formerly known as Future Contracts.
According to the company, while these updates rebrand existing instruments, OKX has assured traders of continued access to familiar functionalities and trading pairs. Notably, OKX has revamped its interface within the futures trading section. The new design intends to simplify navigation, providing traders with a more intuitive and accessible trading platform.
Transition and Market Adjustment Plans
Traders can transition to OKX Futures by accessing the Futures Trading option through the web and app (version 6.46.0) starting December 15, the company noted. While the trading process remains consistent, the updated naming convention aims to provide a more streamlined experience for users.
To maintain stability, OKX plans to ensure that there is no alteration to API parameters, which is crucial for automated trading systems. This decision targets uninterrupted, efficient trading experiences for users relying on automation.
In a parallel initiative, OKX has scheduled an adjustment to position tiers of perpetual swaps and futures on December 18, aiming to fortify market liquidity and mitigate risks.
OKX's Global Expansion Strategy
Recently, OKX partnered with CoinShares and Komainuto enhance derivatives trading. This initiative marked a proactive response to recent events, notably the events that led to the collapse of FTX last year.
The trio wants to enable the trading of OKX's full suite of products within the derivatives platform by integrating a collateral mirroring agreement. This move, while considerably more intricate due to factors like margin financing and risk mitigation, promises a secure trading environment for derivatives.
Additionally, OKX launched a cryptocurrency exchange and Web3 wallet in Brazil last month. This expansion aims to revolutionize the Brazilian crypto market, offering a comprehensive suite of services, including access to DeFi, NFTs, dApps, and an extensive range of cryptocurrencies.
Highlighting the importance of security for Brazilian crypto enthusiasts, OKX has tailored its platform to resonate with local preferences. OKX's global expansion strategy extends beyond Brazil. Furthermore, the crypto exchange has established an office at the Dubai World Trade Center.
This article was written by Jared Kirui at www.financemagnates.com.
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