OKX launched 13 new perpetual futures markets on June 9, giving European traders around-the-clock access to U.S. stocks, ETFs and commodities alongside crypto on a single platform. 13 New Mar
OKX launched 13 new perpetual futures markets on June 9, giving European traders around-the-clock access to U.S. stocks, ETFs and commodities alongside crypto on a single platform.
The exchange's new X-Perp contracts cover the so-called Magnificent 7 tech stocks, the SPY and QQQ index ETFs, gold, silver, WTI crude oil and Brent crude oil, according to a BusinessWire release. All 13 markets are available 24/7 with leverage up to 10x.
New X-Perp markets launched 13 The launch covers the Magnificent 7 names, SPY, QQQ, gold, silver, WTI crude and Brent crude, according to OKX.The product is aimed at traders across Europe. OKX frames the offering as part of a regulated stack, citing its MiCA, MiFID II and Payment Institution licences with passporting across the European Economic Area.
Outside U.S. market hours, OKX anchors each X-Perp's index price to the last available traditional-finance close and constrains it within a plus-or-minus 10% band until markets reopen. The guardrail is designed to limit off-hours price dislocations on weekends and overnight sessions.
OKX Europe CEO Erald Ghoos said X-Perps trading volume has increased by more than 447% since May 1. The growth figure underpins OKX's argument that demand for cross-asset perpetuals was already accelerating before the broader rollout.
X-Perps volume growth since May 1 >447% The metric is part of OKX's case that demand for its cross-asset perpetuals accelerated ahead of this broader expansion."One account, every market, 24/7." — Erald Ghoos, OKX Europe CEO
Despite the product news, OKB, the exchange's native token, traded at $70.16 with a 24-hour decline of roughly 3.9%. The broader crypto market sat at a total capitalization of approximately $2.2 trillion, while the Fear & Greed Index registered 9, deep in "Extreme Fear" territory.
The launch positions OKX as more than a crypto-native exchange. By bundling equities, commodities and digital assets under one account with continuous trading, the platform targets users who already operate in always-on crypto markets and want the same convenience for traditional assets.
The move comes as EU regulators tighten oversight of crypto-linked derivatives ahead of full MiCA implementation on July 1, 2026. ESMA warned earlier this year that leveraged crypto-linked derivatives may still fall under existing EU CFD rules, a backdrop that makes licensed platforms like OKX potentially better positioned than unlicensed competitors.
OKX claims to be the first MiFID-licensed platform offering European retail traders 24/7 futures exposure to U.S. stocks, commodities and indices alongside crypto. That claim has not been independently verified against all MiFID-licensed competitors.
The expansion also arrives as traditional finance and crypto continue to converge. Major banks in Japan are exploring joint stablecoin projects, and new tokenized products like Circle's cirBTC on Ethereum are blurring the line between on-chain and off-chain assets.
For traders accustomed to crypto's non-stop schedule, the appeal is straightforward: react to macro events, earnings surprises or commodity shocks without waiting for Wall Street to open. The 10x leverage cap keeps risk parameters tighter than many crypto-native perpetual markets.
The off-hours index-price guardrail, capping movement at 10% from the last traditional close, is a practical concession. It acknowledges that weekend and overnight liquidity for equity-linked products is thinner than during regular sessions, and attempts to prevent extreme wicks that could trigger unwarranted liquidations.
OKX also noted that SpaceX X-Perps will become available following an IPO, though this is a forward-looking statement dependent on a future event and should not be treated as confirmed.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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