BitMEX and Solidus Labs Extend Partnership to Enhance Cross-Market Surveillance
Solidus’ HALO platform, a crypto market integrity hub, will further enhance BitMEX’s ability to detect potential abusive behaviours across its Spot and Derivatives markets
NEW YORK & MAHE, Seychelles–(BUSINESS WIRE)–BitMEX, one of the world’s largest crypto trading platforms, announced today the expansion of its partnership with Solidus Labs, a category-defining crypto-native market integrity solutions provider. Building upon the success of their initial collaboration which focused on transaction monitoring, BitMEX and Solidus Labs are now extending their partnership to further bolster trade surveillance capabilities and fortify the integrity of crypto derivatives trading.
The collaboration between BitMEX and Solidus Labs started in October 2022 with the integration of Solidus’ HALO platform, to enhance BitMEX’s ability to conduct AML transaction monitoring as part of its Financial Crime Compliance program.
The partnership aims to incorporate HALO, Solidus’ extensive crypto-native trade surveillance and market integrity hub, into BitMEX’s platform. It will further enhance BitMEX’s existing capability to detect suspicious trading activity, and enable real-time responses by leveraging machine learning-powered trade surveillance detection models.
Julian Tehan, Chief Compliance Officer of BitMEX, commented on the expansion, saying, “Our commitment to providing a secure and compliant trading platform remains unwavering. The extension of our partnership with Solidus Labs reflects this commitment as we continue investing in our compliance program and protecting the integrity of our markets. The further enhancement of our existing trade surveillance capabilities will serve to safeguard our platform, prevent market abuse, protect our customers, and help us meet evolving regulatory expectations.”
Solidus’ HALO, a high-octane engine built for speed and reliability, monitors a wide range of markets, including derivatives, to identify abnormal or suspicious trading activities. Its detection models will now play a pivotal role in safeguarding the integrity of BitMEX’s platform, helping to protect against market abuse and manipulation in its prices or volumes, contributing to a secure and trustworthy trading environment for BitMEX’s users.
Asaf Meir, Founder and Chief Executive of Solidus Labs, shared his thoughts on the expanded partnership and the broader crypto landscape, stating, “The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches. We are proud to stand alongside BitMEX as a partner, providing cutting-edge tools and insights to navigate these exciting developments and contribute to the maturation of the crypto market.”
For further information about BitMEX, please visit its website or contact press@bitmex.com.
About BitMEX
BitMEX stands as a globally leading exchange for crypto derivatives, offering traders a professional-grade trading platform. Since its inception in 2014, BitMEX has maintained an impeccable security record with “no coin lost, ever!”. In 2015, BitMEX revolutionised the market by inventing the Perpetual Swap, which has since become the most widely traded crypto product.
For more information on BitMEX, please visit www.bitmex.com, and follow Discord, Telegram and Twitter.
About Solidus Labs
Solidus Labs is the category-definer for crypto-native market integrity solutions – trade surveillance, transaction monitoring, and threat intelligence. Our mission is to enable safe crypto trading throughout the investment journey across all centralized and DeFi markets. As the founder of industry leading initiatives like the Crypto Market Integrity Coalition and DACOM Summit, and in everything we do, Solidus is deeply committed to ushering in the financial markets of tomorrow. To learn more, please visit: https://soliduslabs.com.
Contacts
BitMEX Media
Benjamin Usinger
press@bitmex.com
Solidus Labs Media
Trevor Davis
Gregory FCA for Solidus Labs
443.248.0359
trevor@gregoryfca.com
