Republic of malta-based cryptocurrency exchange OKEx appear that it will launch crypto options trading on December. 27.

In a printing release on Dec. 9, the substitution said that the addition of options makes OKEx the "first crypto substitution to offering C2C, spot, futures, perpetual swap, and options trading nether the same roof."

The options will allow the platform's users to purchase or sell an underlying nugget after paying a premium. While real options trading will begin on Dec. 27, simulated trading is scheduled to start in just iii days, on Dec. 12.

A major upgrade for OKEx

To implement options, the business firm reportedly upgraded its entire system and infrastructure, including the improver of an anti-price manipulation system.

The pick toll is determined in real-time by employing the Black-Scholes pricing model, which considers volatility, option type, underlying asset price, fourth dimension, strike price and gamble-free rate. OKEx CEO Jay Hao commented:

"Options is a unique instrument that enable traders to manage, price and hedge the volatility of crypto assets with a combination of option contracts. Information technology as well gives a trader the power to accept advantage of more than just market direction. Every bit the crypto market evolves, we aim to build a complete derivatives product suite, delivering solutions to optimize users' trading strategies."

Users wanting to access OKEx's options trading service must commencement undergo Know Your Customer procedures and pass a suitability test proving that they understand the products they are buying.

The competition in the cryptocurrency derivatives space is seeing an ever-growing number of products being announced and released. In one of the latest examples, the Chicago Mercantile Exchange Group announced that information technology expects to launch options on its Bitcoin futures on Jan. 13, 2022.