OKEx has announced the launch of real-time settlement for its perpetual swaps, futures, and options contracts. The new feature will now provide a seamless trading experience for its users while improving the capital efficiency of their funds. It will also enable cross-exchange arbitrage opportunities, among other features. The addition of the real-time settlement feature will enable users to make the best out of their funds, as they can withdraw their profits at any time due to not needing to wait for the usual 4:00 pm UTC settlement period every day. OKEx to Launch Real-time Settlement on Its Platform On Dec. 29, OKEx’s real-time settlements will officially begin at 8:00 am UTC on the ADAUSD perpetual contract. Over the months, the feature will be implemented to other major currency pairs on the platform as well. As the real-time settlements officially begin, users holding the ADAUSD perpetual contract position at 8:00 am UTC on Dec. 29 will see the average open price of the position changed to the settlement base price of the last settlement of the ADAUSD perpetual contract. Subsequently, all the resultant profit and loss will be transferred to the ADAUSD perpetual account balance. The profit will then be recalculated as per the new opening average price from 8:00 am UTC on the same day. In the announcement release, the head of financial markets at OKEx, Lennix Lai stated: “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.” Real-time Settlement Function Available through API, Web, or Mobile App According to the announcement, users will be able to experience the real-time settlement function of the ADAUSD perpetual contract by using an API, web, or mobile app. The announcement further emphasized that in the case of extreme market conditions, OKEx has the right to temporarily close the real-time settlement function of some currency contracts.
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