Beeks Financial Cloud secures multi-year deal with Australian Exchange

LONDON - Beeks Financial Cloud Group plc (AIM:BKS), a provider of cloud computing services for financial markets, has secured a multi-year contract with the Australian Securities Exchange (ASX), as announced today. The deal involves Beeks delivering its Exchange Cloud solution to power ASX’s new Colocation on Demand service, which aims to provide customers with scalable and secure cloud computing resources within the Australian Liquidity Centre (ALC).

The partnership is expected to commence revenue recognition during 2025 and contribute to the company’s financial year 2026 expectations. It also marks a transition for Beeks into a revenue share model for its Exchange Cloud contracts, which the company believes will lead to shorter sales cycles and higher long-term profitability.

The ASX, ranking as the 11th largest stock market globally, is set to offer its Colo OnDemand service to lower the barriers to entry into the Australian financial markets for firms of all sizes. This service will eliminate the need for customers to manage their own infrastructure, thereby reducing latency, costs, and complexity.

Gordon McArthur, CEO of Beeks, expressed enthusiasm about the collaboration, noting that it underpins ASX’s innovative approach and commitment to facilitating secure and flexible market access. Jamie Crank, Group Executive, Technology & Data at ASX, highlighted the benefits of the new offering, particularly for underserved market segments such as buy-side firms and smaller investment entities.

The agreement between Beeks and ASX is part of a broader trend in financial markets toward leveraging cloud solutions to enhance connectivity and analytics while providing market participants with greater control over their trading environments. This information is based on a press release statement.

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