OKEx, the worldwide crypto alternate and buying and selling platform is introducing a brand new expertise to its buying and selling group with a Unified Account. Because the identify 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 sufficient 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 total portfolio, buying and selling instruments, danger administration settings and extra.
In response to OKEx, the Unified Account might be made obtainable to its userbase in a phased method beginning March 25, 2021. It should function 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 – Ultimate for margin and derivatives merchants who want to optimize their capital throughout a number of buying and selling devices. Customers on this mode will have the ability 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 fitted to skilled and institutional merchants. It affords 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 obtainable for OKEx API customers.
In the course of the launch, OKEx CEO Jay Hao stated, “We wish all merchants to have one of the 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 danger. We have now 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 considerations concerning 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 posh digital alternate 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 danger 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 alternate it for any one of many property supported by the buying and selling pair.
The introduction of Unified Account with superior danger 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.