The world’s second largest cryptocurrency exchange OKEx has launched a new crypto derivative product, as the related press release reads.
Dubbed Perpetual Swap, the new investment product is a virtual derivative which allows users to speculate on the future value of BTC/USD trading pair, according to OKEx’s index.
The press release reads that each swap contract has a nominal value of $100 worth of BTC at today’s exchange rate and features leverage ranging from 1x to 100x.
Perpetual swaps have no date of expiry, which means that “positions can be held indefinitely”.
OKEx is not the only major exchange to deal with derivatives. Last month, Nasdaq announced its plans for listing bitcoin futures, having already harmonized its product with CFTC’s rules and requirements. According to the data from CME, Q3 2018 saw a 41% increase in butcoin futures trading volume, as compared to Q2 2018.
Pioneered by Chicago-based exchanges CBOE and CME late in 2017, bitcoin futures trading will possibly be soon supplemented by the listing of ethereum futures, as CBOE has already scheduled the listing of this ETH derivative for the end of this year.