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Beeks gets regulatory approval for Exchange Cloud contract
(Sharecast News) - Beeks Financial Cloud, a provider of cloud computing and connectivity solutions for financial markets, announced on Wednesday that it has received regulatory approval for its Exchange Cloud contract with one of the largest exchange groups globally. The AIM-traded firm said the contract, initially announced in February, had now moved forward with the deployment of services and the start of revenue recognition.
It said the contract marked its third international exchange partnership for its Exchange Cloud product - a fully configured, pre-installed trading environment optimised for global exchanges to offer cloud solutions to clients.
The deal was expected to significantly contribute to Beeks' financial performance in the 2025 financial year, and was part of an intended multi-year collaboration with the exchange.
Beeks said it was also in advanced discussions with other major exchanges worldwide, further expanding its Exchange Cloud pipeline.
The company said it remained confident in the product's potential to transform how global exchanges offer cloud-based trading solutions.
"We are delighted to receive regulatory approval and commence our project with one of the most renowned exchanges globally," said chief executive officer Gordon McArthur.
"We have already proven the speed with which we are able to launch these significant deployments, and we look forward to nurturing a sustained and successful collaboration with the customer.
"We remain well-placed to satisfy the strong demand for our solutions."
At 1518 BST, shares in Beeks Financial Cloud were up 8% at 238.68p.
Reporting by Josh White for Sharecast.com.
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