Key facts
- OKX has launched new X-Perps futures contracts for European retail traders.
- The futures are linked to Magnificent 7 stocks, SPY, QQQ, gold, silver, and oil.
- These products offer up to 10x leverage and are regulated under EU frameworks.
- OKX Europe has seen a significant increase in X-Perps trading volume.
- European regulators are scrutinizing crypto-linked derivatives ahead of MiCA implementation.
OKX is expanding its regulated derivatives offering in Europe by launching X-Perps futures contracts that are linked to the performance of the Magnificent 7 stocks, the SPY and QQQ ETFs, as well as gold, silver, and oil benchmarks. This move allows European retail traders to access leveraged trading on these traditional assets within a single account, consolidating crypto and equity derivatives exposure.
The exchange's X-Perps, defined as regulated derivatives that track underlying spot prices, were initially launched in April with crypto-linked contracts. The expansion into stock and commodity futures intensifies competition with other major crypto exchanges like Coinbase, Kraken, and Binance, which have also introduced similar equity-linked products for non-US clients.
OKX Europe's CEO, Erald Ghoos, reported a significant surge in X-Perps trading volumes, exceeding 447% since May 1, largely driven by new clients who previously traded such derivatives on offshore platforms. This development occurs as European regulators are actively examining how existing securities and derivatives rules, such as the EU's CFD rules and the upcoming MiCA framework, apply to crypto-linked investment products.