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BitMEX and Solidus Labs extend cross-market surveillance partnership

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BitMEX, one of the world’s largest crypto trading platforms, has expanded its partnership with Solidus Labs, a crypto-native market integrity solutions provider, to bolster surveillance of crypto derivatives trading.

The expanded partnership builds on the success of their initial AML transaction monitoring collaboration, which started in October 2022 with the integration of Solidus’ HALO platform as part of BitMEX’s Financial Crime Compliance programme.

BitMEX will now leverage HALO to assist in the detection of suspicious trading activity, and to enable real-time responses by leveraging machine learning-powered trade surveillance detection models.

In a press statement, BitMEX said: “HALO 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.”

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