OKX has announced a significant expansion of its European X-Perps platform, introducing 13 new markets to enhance trading opportunities for retail investors across the European Economic Area. The company outlined in a recent press release that these additions provide round-the-clock access to perpetual futures for an extensive array of assets, including the renowned Magnificent 7 stocks, commodity oil benchmarks, gold, silver, and index trackers for the S&P 500 and Nasdaq-100.
Launched this past Monday, the new contracts encompass high-profile stocks such as Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla, alongside commodities like Gold and Silver, and oil benchmarks including West Texas Intermediate (WTI) and Brent Crude Oil. The platform also features exchange-traded funds (ETFs) like SPY and QQQ. Each of the 13 new markets supports leverage of up to 10x, providing traders with enhanced opportunities to maximize their investments. Additionally, OKX hinted at the introduction of a SpaceX-linked X-Perp scheduled for June 12, coinciding with the company’s IPO.
Erald Ghoos, CEO of OKX Europe, emphasized that this expansion addresses a key gap in the market for European traders. He noted the lack of around-the-clock and consolidated access to equities and commodities, stating, “X-Perps fix that. One account, every market, 24/7. And because we’re fully regulated, our customers get the protections that come with that.”
The X-Perps product itself features a five-year expiry on futures contracts, utilizing a funding rate mechanism to track the underlying spot price. This combination blends aspects of perpetual swaps with a fixed maturity. OKX initially launched this product category in Europe in April, initially focusing on major cryptocurrencies under its MiFID II authorization, and this latest expansion incorporates traditional market assets into its offerings.
Since May 1, trading volume in X-Perps has surged by over 447%, showcasing strong interest in the product. OKX has pointed out the stark contrast between U.S. and European index products as a backdrop for the growing demand. For instance, the SPY ETF alone holds approximately $700 billion in assets, while the largest comparable European ETF manages around $20 billion, highlighting the existing market gap.
This expansion comes on the heels of Coinbase’s recent launch of perpetual equity index futures for U.S. customers, placing OKX’s European offerings in a competitive landscape. With operations governed by the European Union’s Markets in Crypto-Assets (MiCA) and MiFID II licenses, OKX is strategically positioned to attract retail brokerage flows, especially as the transition period for MiCA concludes on July 1, 2026. Exchanges without the necessary licenses will be unable to provide crypto services across the European Economic Area after this date.
Finally, OKX Europe Markets Ltd is authorized by the Malta Financial Services Authority under the Investment Services Act as a MiFID II license holder, and the platform’s initial launch in April focused solely on cryptocurrency perpetual contracts. The recent expansion marks a pivotal move to complete its product lineup with traditional asset exposure.
