The capital market has never been short of jokes. This year’s very popular joke about baijiu stocks in A-shares is very interesting. When you are young, you don’t know how to get drunk with liquor, and you mistake securities for comfort; I think it is possible to add another sentence, "I don't know how to be a bit (Bitcoin) bull when I am young, and I am busy with stock trading."

Anyone who is more concerned about investment and financial management knows that the biggest "spoiler" in the capital market this year is none other than the new crown epidemic. First, the global stock market is "looking for teeth", and 4 of the 5 circuit breakers in the US stock market's 200-year history have occurred This year, then the earth-level "central mother" Federal Reserve launched an unprecedented unlimited quantitative easing to rescue the market. All major types of assets (stock markets, commodities, gold, bitcoin) are exposed to rain and dew, just like taking a high-speed train to go away, especially The representative of the emerging capital market - Bitcoin, has the potential to go straight into the sky, killing all investment products in seconds.

Bitcoin quickly bottomed out and rebounded after the liquidity crisis triggered by the epidemic. It was the first to lead the mainstream investment products out of the haze. Top December 17, 2017 exactly three years later.

The paragraph at the beginning of the article made baijiu stocks go up in the sky. Little did they know that Kweichow Moutai, the leader of the baijiu industry with a history of more than 800 years, has a market value of only 2.31 trillion yuan today, ranking first in the A-share market, and it has only been born for 11 years. The market value of Bitcoin has reached 2.9 trillion yuan, which is enough to show that Bitcoin is being recognized by more and more investors. Bitcoin has been questioned and experienced crises along the way, but it has not stopped its progress. This is a historical process and cannot be stopped. Of course, the credit for this is the exchange that paved the way for it. No, OKEx, the leading exchange that has just emerged from the crisis, has just launched a new generation of trading system - a unified trading account, which claims to redefine trading. Why? , the author will take you to find out the whole story.

The first time the author came into contact with the capital market was my big A-shares, and later I got involved in foreign exchange trading. Let alone how much money I made and how many injuries I suffered in it, at least I am very satisfied with the trading experience. For a stock account, one account can buy and sell stocks, funds, treasury bond reverse repurchase, bonds, and bank wealth management products listed and traded in the Shanghai and Shenzhen stock markets; for a foreign exchange account, one account can buy and sell currencies of major countries Yes, gold, silver, crude oil, natural gas, stock market indexes of major economies, etc., and there is no need for any fund transfer and switching in the middle, and everything is automatically settled by the trading system. Investors who have experienced the traditional capital market have become accustomed to this, thinking that this is a very common function, but because the underlying technologies of different currencies in the currency circle may be different, the seemingly ordinary demand was once in the currency circle. become a luxury.

When I first entered the currency circle at the end of 2016, because derivatives such as contracts had just started, they were mainly spot transactions. In addition, it was in a big bull market at that time, and contract products did not pay much attention, and did not involve a large amount of capital transfer. It feels pretty good. However, since a large number of contracts have been operated in 2018, it has been discovered that the contract transaction process in the currency circle is too cumbersome. If you want to operate contract varieties of multiple currencies, you need to transfer funds to the corresponding accounts first. In the process, the best buying and selling opportunities are often measured.

This is just one, and second, because funds in contracts of different currencies cannot communicate with each other, a certain contract position will be forced to liquidate due to insufficient margin. If the total assets of the account can be used as a margin, this kind of embarrassment can be avoided to the greatest extent.

In addition, risk control is undoubtedly the most important link in the transaction, but in the traditional trading mode, the funds are divided into multiple small parts due to the positions of multiple different product lines, and the overall risk level of the account can only be known after careful calculation of each position How, if you don't pay attention, it is easy to take a heavy position due to negligence, and put yourself in danger. This is the trading experience under the traditional trading mode. If it is given an objective definition, then the author believes that the keywords will definitely contain words such as cumbersome and inefficient.

Didn’t the major exchanges discover these problems? Of course it was discovered, but because the underlying technology required for currency circle transactions is not the same logic as the traditional capital market, transfers between different currencies require cross-chain technical support, and the same is true at the exchange level. If you want to get through this kind of gambling point and realize cross-currency transactions at the exchange level, you need to invest huge manpower and material resources in research and development. Most of the small exchanges do not have this kind of research and development capability. In the case that the existing trading system has not been subverted, the large exchanges do not have much willingness to invest too much money in research and development in order to maximize profits.

The wheel of history will only keep moving forward. If you don’t innovate and seek changes, you will definitely be left behind. As the oldest leading exchange in the industry, OKEx knows this truth well. A product technical team of 100 people with Morgan, Nomura, and BAT backgrounds has been invested successively, with a total of 20,000 hours of test and development, and finally created a new generation of trading system - a unified trading account, which fundamentally solves the above problems.

In order to meet the different trading habits and demands of users, the unified trading account launched by OKEx is divided into three modes: simple trading mode (Simple), single-currency margin mode (Single-currency margin) and cross-currency margin mode (Multi-currency margin) currency margin).

The simple trading mode is mainly aimed at the novice investors who are new to the capital market. It only supports the trading of currency spot and option buyers, and the relatively high-risk contract margin business has been isolated. However, the author believes that options are also a relatively complex derivative product. Although the risk is relatively small compared to contract products, it is recommended that investors who are new to the currency circle not to try it lightly.

The single-currency margin mode supports five major product lines of currency, leverage, delivery, perpetual swaps, and options. In the cross-margin mode, all positions in the same currency with the same settlement currency share the total assets of the corresponding currency as margin, and the same settlement All positions under the currency can be mutually offset by profit and loss; in the isolated position mode, each isolated position is isolated from the account separately, and the profit and loss are borne by itself.

The cross-currency margin mode not only supports 5 major product lines, but also supports cross-currency settlement of all product lines, and the positions of all product lines can jointly use the total assets of the account (after converting into US dollars) as margin. In the cross-currency margin automatic loan mode, even if there is only one currency (USDT, BTC, ETH, etc.) in the account, transactions in other currencies other than this currency can be carried out, but in this case, a certain loan interest needs to be paid , so it is best to deposit the currencies that you often operate in the account.

The cross-currency margin automatic loan mode is the ultimate killer feature of OKEx's unified account. It completely breaks through all the gambling points in the traditional trading system, and truly realizes the same smooth trading experience as the traditional capital market trading system. Measure buying and selling opportunities due to frequent fund transfers; no longer will you be forced to liquidate due to insufficient margin for individual positions.

There are only a handful of them, and 2020 is about to come to a perfect end. If you want to say what keywords the capital market has this year, Bitcoin must of course be among them. In addition, a newly born keyword is swiping the screen in the currency circle, " OKEx Redefines Trading". I believe that under the OKEx "disruption", more and more exchanges will follow up to create a unified trading account, which will not only speed up the pace of innovation in the entire industry, but also the gospel of the majority of investors, suffocating our beliefs !