OKEx announces launch of USDT Futures Contracts trading
The derivatives market for crypto-assets continues to expand, with exchanges beginning to identify the market demand for such crypto-products.
According to a press release received by AMBCrypto, OKEx, one of the world’s largest crypto-exchanges, has officially announced the launch of USDT Futures Trading, which will be a linear Futures contract. USDT Futures contract will go live on 14 November, with a simulation for the same scheduled for today, the 5th of November.
The Futures contract will be settled in USDT digital tokens, and each contract will have a definite value with a fixed amount. The product will enable traders earn profits from a long position during the price pump of an asset, or a short position during a depreciation. The USDT pairs on the platform will include BTC, ETH, BCH, EOS, XRP, BSV, and TRX, and users will be able to trade with up to 100x leverage.
The press release also stated that the objective of these USDT Futures Contracts is to imbue a level of efficiency, while also ensuring low costs. By acquiring USDT on the platform, traders will be able to switch between different assets and trade with different USDT-margin Futures. OKEx also claimed that USDT Collateral is relatively stable and traders will be able to reduce the high volatility of the collateral’s valuation.
Lennix Lai, Financial Market Director at OKEx, commented,
“The addition of USDT Futures Trading demonstrates our commitment to offering a one-stop shop for professional and retail traders alike with the best user experience in the industry. Most of the time, users are not willing to hold altcoins as margin, and they also see inverse contracts itself are complicated to understand. We see this linear contract would be an open door to many new retail traders.”
Moreover, in order to avoid large liquidations and to reduce its after-effect on market liquidity, OKEx has adopted an enhanced risk management system which includes the Tiered Maintenance Margin Ratio [TMMR].