Unified Account – OKEx Introduces A Single Account to Trade Anything on the Platform


OKEx, the international crypto change and buying and selling platform is introducing a new experience to its buying and selling group with a Unified Account. As 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 singular providing in the crypto ecosystem. So far, 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 whole portfolio, buying and selling instruments, danger administration settings and extra.

According to OKEx, the Unified Account might be made obtainable to its userbase in a phased method beginning March 25, 2021. It will characteristic three totally different account modes designed to fulfill the necessities of retail in addition to institutional merchants no matter their expertise ranges.

  1. Simple ModeDesigned for spot merchants and choices patrons
  2. Single-currency Margin Mode – Ideal for margin and derivatives merchants who want to optimize their capital throughout a number of buying and selling devices. Users on this mode might be in a position to go for cross-margin or isolated-margin with their open positions.
  3. Multi-currency Margin and Portfolio Margin ModeMeant for these proficient in buying and selling, this mode is nicely fitted to skilled and institutional merchants. It presents them the capability to leverage all their asset holdings on the platform as collateral, no matter the denomination to commerce all supported devices. This mode can also be obtainable for OKEx API customers.

During the launch, OKEx CEO Jay Hao mentioned, “We need all merchants to have the finest 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 totally different appetites for danger. We have invested vital assets into offering a complicated and versatile product and look ahead to assembly the wants of our rising variety of customers. “

One of the issues concerning 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 big losses if the market doesn’t reply favorably. In addition, the implementation of such a product in a posh 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 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’ll commerce any crypto-asset with out having to change it for any one among the 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 one other or swapping one crypto to one other.

 



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