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OkEx comes up with new derivatives contracts of ETC and LTC

OkEx, a Hong Kong-based cryptocurrency exchange, has tested its luck in the derivative trading assertively. The hot news from the company is to unveil the derivatives contracts for both Litecoin and Ethereum Classic. The news was announced on Okex’s official blog post today. As per the source, their BTC futures trade has nearly $1.5B of volume per day. widely recognized as the gold standard for the industry.

The key intricacies of newly launched perpetual swaps are as follows:

Litecoin (LTC):

  • Face Value of the Contract – US$ 10
  • Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest), +0. 2,0/2 %).
  • Price break-up - 0.01 point
  • Leverage - 1-40x
  • Fees and Settlement- Once every 12 hours at 3 am and 3 pm (CET, UTC+1)

Ethereum Classic (ETC):

  • Face Value of the Contract – US$ 10
  • Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest), +0. 2,0/2 %)
  • Price break-up - 0.001 point
  • Leverage - 1-40x
  • Fees and Settlement - Once every 12 hours at 3 am and 3 pm (CET, UTC+1)

Perpetual Swaps were originally introduced by Bitmex, a derivative product that were instrumental for trading like Future contracts but without any expiry or settlement. OkEx also supports for BTC, EOS, BCH, BSV, ETH, and XRP contracts.

Currency Strength Index: FxWirePro's hourly BTC spot index has flashed at 79 (which is bullish), while hourly USD spot index has shown 37 (bullish), while articulating at 07:07 GMT. 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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