OKEx, the worldwide crypto trade and buying and selling platform is introducing a brand new expertise to its buying and selling group with a Unified Account. Because the title suggests, Unified Account is one place from which OKEx customers can execute trades throughout all devices and handle their portfolios all through the ecosystem.
The OKEx Unified Account, also referred to as Portfolio Margin, is a novel providing within the crypto ecosystem. To this point, its use was restricted to few brokerages and banks catering to high-net-worth people with ample capital and buying and selling experience. For OKEx customers, the implementation of Unified Account means, they will execute any spot, margin, futures, perpetual swaps and choices trades from one place which retaining entry to their complete portfolio, buying and selling instruments, threat administration settings and extra.
In response to OKEx, the Unified Account will likely be made accessible to its userbase in a phased method beginning March 25, 2021. It’s going to function three completely different account modes designed to fulfill the necessities of retail in addition to institutional merchants no matter their expertise ranges.
- Easy Mode – Designed for spot merchants and choices patrons
- Single-currency Margin Mode – Perfect for margin and derivatives merchants who want to optimize their capital throughout a number of buying and selling devices. Customers on this mode will be capable of go for cross-margin or isolated-margin with their open positions.
- Multi-currency Margin and Portfolio Margin Mode – Meant for these proficient in buying and selling, this mode is properly fitted to skilled and institutional merchants. It provides them the power to leverage all their asset holdings on the platform as collateral, no matter the denomination to commerce all supported devices. This mode can also be accessible for OKEx API customers.
Through the launch, OKEx CEO Jay Hao mentioned, “We would like all merchants to have the very best expertise when buying and selling on our platform, whether or not they’re new to crypto buying and selling or already battle hardened. With this new function, every account mode is customizable and fits various levels of expertise, permitting for buying and selling with completely different appetites for threat. We’ve got invested important sources into offering a complicated and versatile product and look ahead to assembly the wants of our rising variety of customers. “
One of many issues relating to the implementation and use of such a unified system is the amplification of dangers, as customers may find yourself locking their funds in too many locations and run into large losses if the market doesn’t reply favorably. As well as, the implementation of such a product in a fancy digital trade with numerous product choices may a catastrophe if the system fails to deal with the volumes.
Addressing these points, OKEx makes use of a state-of-the-art threat administration system to enhance operational and margin effectivity whereas enabling margin sharing throughout a number of buying and selling devices. So, so long as one has sufficient funds of their OKEx account they will commerce any crypto-asset with out having to trade it for any one of many belongings supported by the buying and selling pair.
The introduction of Unified Account with superior threat administration logic will assist customers expertise seamless buying and selling on OKEx with out worrying about switching from one buying and selling platform to a different or swapping one crypto to a different.