Exchange Cloud Contract Approval

Beeks Financial Cloud Group PLC

14 August 2024

 

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

Exchange Cloud Contract Approval

Beeks receives regulatory approval for Exchange Cloud at one of the largest exchange groups globally

14 August 2024 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to confirm that the conditional contract with one of the largest exchange groups globally (the "Exchange"), announced on 6 February 2024, has now received regulatory approval.

Following receipt of regulatory clearance, the deployment of services and recognition of revenue has commenced. A further announcement will be made by both the Company and the Exchange when the full platform is available for customer deployments in due course. The deal helps further underpin the Board's expectations for FY25 and marks the initial phase of an intended multi-year partnership between Beeks and the Exchange.

This deal marks the third international exchange to sign up to Exchange Cloud, Beeks' multi-home, fully configured and pre-installed physical trading environment fully optimised for global exchanges to offer cloud solutions to their end users. With a proven ability to secure contracts with the world's largest exchanges, Beeks remains highly confident in fulfilling the product's transformational potential.

The Exchange Cloud pipeline continues to build, with advanced discussions taking place with other major Exchanges across the globe.

Gordon McArthur, CEO at Beeks, commented: "We are delighted to receive regulatory approval and commence our project with one of the most renowned exchanges globally. 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."

For further information please contact:

Beeks Financial Cloud Group plc
Gordon McArthur, CEO	via Alma
Fraser McDonald, CFO
Canaccord Genuity	[phone]
Adam James / George Grainger
Alma Strategic Communications	[phone]
Caroline Forde / Joe Pederzolli/ Emma Thompson

About Beeks:

Cloud computing is crucial to Capital Markets and finance.

Beeks Group is a leading managed cloud provider exclusively within this fast-moving sector. Our Infrastructure-as-a-Service model is optimised for low-latency private cloud compute, connectivity and analytics, providing the flexibility to deploy and connect to exchanges, trading venues and public cloud for a true hybrid cloud experience.

ISO 27001 certified, we provide world-class security aligned to global security requirements.

Founded in 2011, Beeks Group is listed on the London Stock Exchange (LSE: BKS) and has enjoyed continued growth each year. Beeks Group now employs over 100 team members across the globe with the majority based at our Renfrew HQ.

Find out more at beeksgroup.com

 

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