In a move that puts its customers at the heart of its operations, global crypto exchange OKEx is making changes to the way it lets its users access profits gained on futures contracts.
From tomorrow (August 22), the exchange is rolling out settlement times for nine assets. The change is being staggered across the assets, according to the below schedule:
- TRX: Aug 22, 2019
- BSV, ETC: Aug 26, 2019
- XRP, BCH, LTC: Aug 28, 2019
- EOS, ETH, BTC: Aug 30, 2019
Under the old system, customers had to wait until 10am on Friday to realize their trading profits, but under the new system, customers will be able to settle every day at 10am.
Customer at the heart
In a blog post, the OKEx team outlined the reasons behind the move and hinted that more big changes were coming to the platform soon.
A spokesperson said the move was meant to optimize customers’ trading experience.
“We’re implementing the daily settlement because we want to allow our customers to make better use of their funds, hence delivering a better trading experience,” they said.
“Once this is implemented, starting tomorrow with TRX, customers will be able to freely move their funds in and out of their futures account without waiting until Friday.
“This is one of three big changes we’ve made to the platform to help traders, and comes just weeks after we launched the futures and perpetual swap trading market data tool for customers, which allows customers to have more data and statistics behind their trading decisions.
“The other changes we’ve made include adjustments of perpetual swap settlement and funding time, and the adjustment of perpetual swap funding schedule.”
More on the way
And the spokesperson promised more news would be coming soon, saying: “In response to our customers’ demands, we will also be rolling out a series of algo orders for both futures and perpetual swap trading. Watch this space.”
OKEx is a global cryptocurrency exchange operating out of Malta. It launched in 2014, and since then has grown to be one of the world’s biggest crypto exchanges, used by millions of new and experienced crypto traders around the world every day.
According to recent data from CoinMarketCap, it is rated as the third largest platform by adjusted trading volume, in the past 24 hours accounting for more than $1 billion in trading volume.