Customer At the Heart of OKEx's Latest Daily Settlement Changes - Latest News on Cryptocurrencies, Bitcoin & Blockchain | Coinblaze

Customer At the Heart of OKEx’s Latest Daily Settlement Changes

Customer At the Heart of OKEx’s Latest Daily Settlement Changes

Global crypto exchange OKEx is once again placing its customers at the heart of its business as it pushes through updates to daily settlement times for a range of futures contracts across its platform.

The move means new and more experienced traders will be able to benefit from quicker settlement times, and will be able to get hold of their profits much more quickly than before.

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The change will affect a host of assets and will be rolled out in the coming days, starting with Tron (TRX), tomorrow (August 22).

The full staggered release schedule is below:

  • TRX: Aug 22, 2019
  • BSV, ETC: Aug 26, 2019
  • XRP, BCH, LTC: Aug 28, 2019
  • EOS, ETH, BTC: Aug 30, 2019

The move means that from tomorrow, any customers wishing to get hold of their profits will be able to do so at 10am every day, instead of the old schedule which meant profits were effectively ‘locked up’ until 10am on a Friday.

This meant customers making profits on a Saturday, would need to wait almost a whole week to release them.

Customer first

The change is one of three big updates to the way OKEx is improving its platform for users, which also includes adjusting perpetual swap settlement and funding time, and adjusting the perpetual swap settlement schedule.

An OKEx spokesperson outlined the reasoning behind the move.

“We want to optimize our users’ trading experience on the platform,” they said.

“Investors like the flexibility of being able to take their gains when they’ve got them rather than leaving them sitting on an exchange, and OKEx provides for this flexibility.

“We want to allow our customers to make better use of their funds, hence delivering a better trading experience. In futures trading, profits and losses are realized when a position is closed. However, customers are not able to transfer the realized profits out of their accounts before the settlement. Their funds are locked away in the futures account until the settlement on Friday.

“This move changes that and is part of our continued effort to put our customers at the forefront of everything that we do.”

OKEx is recognized as one of the world’s biggest digital assets exchanges. Based out of crypto-friendly Malta, it gives customers a wide range of services.

As well as trading Bitcoin futures customers can trade hundreds of altcoin and futures trading pairs, giving them a range of options to help them develop their trading strategies.

The exchange offers customers a huge range of services including spot trading, futures contracts and perpetual swap trading.

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