REG - Beeks Fin Cloud Grp - Exchange Cloud Contract Approval

Beeks Financial CloudAnnouncement

14/08/2024 07:00

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RNS Number : 3371A  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                               +44 (0)20 7523 8000
 Adam James / George Grainger

 Alma Strategic Communications                   +44(0)20 3405 0205
 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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