rewrite this title OKX Unleashes Magnificent 7 X-Perps

Key Takeaways:

OKX launched X-Perps for all seven Magnificent 7 stocks in Europe.Traders can gain 24/7 long or short exposure with up to 10x leverage.The move deepens the convergence between crypto and traditional finance.

Crypto exchange OKX is making further strides in its offering of tokenized financial products by introducing X-Perps for the seven biggest tech firms based in the U.S.

With the new offering, eligible traders from the European Economic Area (EEA) will now be able to trade futures on major multinational companies, including Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla, directly from their OKX accounts.

It is another step in the blurring of the lines between cryptocurrency and conventional finance, enabling users to achieve as much stock price exposure as possible, without holding any shares.

Read More: OKX Launches US Crypto Exchange and Web3 Wallet, Appoints New US CEO

OKX Brings Magnificent 7 Exposure to Crypto Traders

Starting June 9 market participants on OKX can actively participate in trading USD-margined X-Perp contracts of seven new assets – AAPLUSD, AMZNUSD, GOOGLUSD, METAUSD, MSFTUSD, NVDAUSD, TSLAUSD.

These contracts are not ownership of the stock, but offer exposure to price fluctuations. Traders have no voting rights, dividends or shareholder privileges. Rather, they are provided with a way to speculate on price fluctuations in futures trading executed on the OKX platform.

A contract is equal to one share and users can enter smaller positions with the min order quantity of 0.01 contracts. The products can be trading on the OKX web platform or mobile app.

24/7 Trading Expands Beyond Crypto

The most significant difference between X-Perps and the traditional stock market is that you always have easy access to the market.

Most traditional trade hours in the U.S. markets are fixed, whereas OKX’s X-Perps are open 24 hours a day. 

Read More: Polymarket Perps Beta Goes Live for 24/7 Trading

How OKX Tracks Stock Prices

During the U.S. market hours, pricing data is provided using real-time feeds and reference markets. Outside official trading hours, the index price remains anchored to the most recent traditional market close.

OKX also applies a pricing mechanism designed to keep contracts aligned with the underlying stock through funding payments between long and short traders.

This enables traders to keep trading over weekends, holidays, and during the night.

OKX Expands TradFi Products as Demand Surges

The Magnificent 7 launch is part of a broader expansion of OKX’s regulated X-Perps lineup in Europe.

In addition to the big nearly-bundles, the exchange has added futures contracts to the S&P 500 (SPY), the Nasdaq-100 (QQQ), gold, silver, and two oil contracts, based on West Texas Intermediate crude and Brent crude. OKX also plans to list a SpaceX X-Perp following the company’s expected public market debut.

Since May 1, X-Perps trading volume grew by more over 447%, according to OKX Europe CEO Erald Ghoos, revealing the rising demand for a more crypto-like offering with traditional asset exposure.

Products such as X-Perps will play an essential role in the broader unification of global markets in a single platform that operates within crypto-native frameworks as exchanges roll out further integration of equity, commodity, indices and digital asset trading platforms.