HDR Global Trading Limited (BitMEX)

BitMEX is a cryptocurrency exchange and derivatives trading platform, founded in 2014. Operated by HDR Global Trading Limited, the company is headquartered in Mahe, Seychelles. Its core mission is to provide a secure and reliable trading environment for cryptocurrency derivatives, offering deep liquidity and advanced tools for its users.

The platform specializes in a variety of cryptocurrency-based financial products, including perpetual contracts, futures contracts, and options contracts, and is recognized for pioneering the perpetual swap. BitMEX offers high leverage, up to 250x on certain crypto perpetuals, catering to both institutional and experienced retail traders. Beyond derivatives, it also provides spot trading, a crypto converter, and direct cryptocurrency purchasing options.

In recent years, BitMEX has navigated significant changes, including a corporate restructuring in July 2020, where its parent company, HDR Global Trading Limited, became part of the 100x Group. Following charges by U.S. authorities for violating the Bank Secrecy Act, the co-founders, including Arthur Hayes, stepped down from executive roles in October 2020. In January 2025, BitMEX was fined $100 million for failing to implement an adequate anti-money laundering program. Despite these challenges, under current CEO Stephan Lutz, BitMEX maintains its focus on security and integrity, emphasizing a track record of no lost funds due to intrusion or hacking, and continues to innovate with new product offerings like memecoin basket indices and increased leverage options.