Beeks Financial Cloud Launches Exchange Cloud

Beeks Financial Cloud, which provides cloud computing and connectivity services in the financial markets, announced today that the company has launched Exchange Cloud, a multi-home, fully configured and pre-installed physical trading environment that has been fully optimised for global exchanges to offer cloud solutions to their end users.

Exchange Cloud is an evolution of Proximity Cloud, the industry's first private cloud environment for financial markets launched last year. Beeks will continue to develop Proximity Cloud as its single user platform and Exchange Cloud as its multi-homed environment targeted at exchanges.

Gordon McArthur, CEO of Beeks Financial Cloud commented:"Our product development has always been driven by customer demand and we created Exchange Cloud specifically to meet the needs of top exchanges around the world. During early-stage Proximity Cloud discussions with some of the top ten financial exchanges in the world, we identified a demand for a secure, multi-client cloud environment which they could offer to their customers. We believe the end-user compute market within exchange data centres to be considerable, and there to be no comparable offering currently in the market."

"We are delighted by the early win of this top exchange, which will contribute towards underpinning our FY23 expectations, but more significantly we believe the opportunity for Exchange Cloud to be potentially transformative for our business,"McArthur added.

The launch came months after the company announced the completion of its £15 million fundraising through share placements. The company also released its financials for the first half of the financial year 2022. Its revenue in the period jumped by 46 percent to reach £7.72 million.