LSE-listed cloud computing connectivity provider for financial markets, Beeks Financial Cloud Group announced today that it has launched Exchange Cloud, an evolution of Proximity Cloud.The details shared by the company show that the launch will assist global financial exchanges in offering cloud solutions to end-users. The latest announcement from Beeks Financial Cloud Group came nearly 10 months after the company introduced Proximity Cloud, the industry’s first private cloud environment for financial markets.”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 that they could offer to their customers. We believe the end-user compute market within exchange data centers to be considerable, and there [is] no comparable offering currently in the market,” Gordon McArthur, the CEO of Beeks Financial Cloud Group, said.Earlier this year, Beeks reported its financial results for the six months ended 31 December 2021. For the mentioned period, the company posted a 46% jump in revenues as the figure reached the level of £7.72 million, compared to £5.29 million in H1 2021.Business GrowthIn an official announcement, McArthur said that the launch of Exchange Cloud will play an important role in the company’s growth..“We are delighted by the early win of the 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.Exchange Cloud has been designed to be a fully managed and configurable compute, storage and analytics rack built with low latency hardware that allows international exchanges to run compute, storage and analytics on-premise.
This article was written by Bilal Jafar at www.financemagnates.com.
