Bitmex Integrates Financial Market Data Management Platform, Refinitiv, to Enhance Compliance

  • Crypto derivatives exchange BitMEX is set to integrate financial markets data and infrastructure platform, Refinitiv, to improve its compliance standards.

BitMEX derivatives exchange adds the Refinitiv World-Check One to its suite of tools used by the exchange for its compliance procedures. Following a testing period earlier in the year with top executives charged with money laundering, racketeering, and market manipulation, BitMEX is turning a leaf in its compliance procedures.

In October, BEG announced the derivatives exchange requires every trader to be fully KYC compliant by November 5th to open new positions. Now, the exchange is tightening its compliance procedures with the integration of World-Check One from Refinitiv, a leading financial markets data, and infrastructure working with over 40,000+ institutions from over 190 countries.

The platform is set to enhance monitoring of transactions and ensure compliance in issues regarding “sanctions, financial crime, bribery, and corruption risks,” a BitMEX report reads. This is set to enhance users’ experience and trading efficiency on the platform in line with the highest compliance form.

Integrating Refinitiv offers the exchange one of the most efficient and trusted screening platforms to mitigate any risk of illicit funds going through the platform, Malcolm Wright, Chief Compliance Officer of 100x Group (holding company of BitMEX) said. He added,

“Compliance can never stand still, and our inclusion of World-Check One is an important step towards meeting the highest global standards of financial integrity.”

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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