OKEx launches trading data platform

OKEx has launched a new platform entitled “Futures and Perpetual Swap Market Data” that offers trading data for customers, trying to help them understand the derivatives market, according to a press statement sent to Business Malta.  

OKEx expects the new platform to allow users to access the real-time data of OKEx’s futures and perpetual swap markets of nine mainstream tokens including bitcoin (BTC), litecoin (LTC), ether price (ETH), ether classic (ETC), ripple (XRP), EOS, bitcoin cash (BCH), bitcoin SV (BSV) and tron (TRX), according to a press release sent to Business Malta.  

Additionally, OKEx expects the new feature to help its customers to get a grasp of market trends, including long/short positions ratio, basis, open interest and trading volume, buy/sell taker volume, Top Trader Sentiment Index, and top trader average margin used. 

The new data platform is also seen to provide additional insight that would help customers better identify market trends and develop their own trading strategies, the press statement says.

“Derivatives trading requires a steeper learning curve, as it involves the use of margin and leverage. Once we realized that there isn’t really much data available in the market to help users analyze market trends, we decided to build a tool that can benefit our users,” said Andy Cheung, Head of Operations of OKEx. 

“That’s why we launched this big data platform, and we are proud to say that we are the first in the industry to provide this kind of data. As a leader, we are committed to bringing the best user experience and building a healthy trading environment for all,” Mr Cheung added.

Recently, OKEx donated $4.5m — approximately €4m+ — of bitcoin to its perpetual swap market insurance fund in order to foster the confidence of customers in trading cryptocurrencies, according to a press release the company published.