OKEx, the worldwide crypto change and buying and selling platform is introducing a new experience 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 called 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’ll 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 can be made accessible to its userbase in a phased method beginning March 25, 2021. It’s going to characteristic three completely different account modes designed to fulfill the necessities of retail in addition to institutional merchants regardless of their expertise ranges.
- Easy Mode – Designed for spot merchants and choices consumers
- Single-currency Margin Mode – Best 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 to 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 nicely suited to skilled and institutional merchants. It provides them the flexibility to leverage all their asset holdings on the platform as collateral, regardless of the denomination to commerce all supported devices. This mode can also be accessible for OKEx API customers.
In the course of the launch, OKEx CEO Jay Hao stated, “We wish 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 characteristic, every account mode is customizable and fits various levels of expertise, permitting for buying and selling with completely different appetites for threat. We have now invested important assets into offering a classy and versatile product and look ahead to assembly the wants of our rising variety of customers. “
One of many considerations relating to the implementation and use of such a unified system is the amplification of dangers, as customers might find yourself locking their funds in too many locations and run into enormous losses if the market doesn’t reply favorably. As well as, the implementation of such a product in a fancy digital change with varied product choices might 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’ll commerce any crypto-asset with out having to change it for any one of many property 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.