Beeks Financial Cloud Group plc, a financial markets connectivity provider, announced that it has launched a new service in partnership with the Singapore Exchange (SGX) to remove commercial trade barriers in the country.
In an official announcement, Beeks Group mentioned that the new cloud service will provide an ultra-fast cross-connect and cost-effective solution for connectivity to SGX. Dubbed ‘Co-location as a Service’ (CaaS) collaboration, the cloud service helps market participants to reduce new trading participant time to market.
The newly launched service also allows Beeks Financial Cloud Group to establish direct connectivity from Equinix SG1 into SGX for the first time in order to increase the speed and connectivity between the mentioned locations through a private dark fiber.
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Beeks collaborated with SGX in 2018 to establish a Tier-1 rack space within the Singapore data center to offer a dedicated server for high-speed connectivity to SGX markets. The partnership allows Beeks Group to offer direct access to the SGX Test Environment and SGX Reach.
The Group recently announced the launch of Beeks analytics as a service to expand its product offering.
Singapore has been an attractive location for global fintech and financial trading companies due to a clear regulatory environment and extensive demand from local financial firms. Beeks Group aims to attract more financial companies looking for cost-effective trading infrastructure in the region. Commenting on the development, Gordon McArthur, CEO at Beeks, said: “Singapore is a key global trading hub, and we have received substantial demand from our institutional clients to expand low latency trading solutions. Growth throughout APAC is a key part of our growth strategy, and I’m pleased our joint collaboration with SGX is another step to achieving this. This partnership will allow Beeks to better fulfill the requirements of our customers by offering a wider variety of connectivity options, and to attract more financial enterprises looking for cost-effective trading infrastructure in this geography.”