Beeks Financial Cloud Group Launches Proximity Cloud

The Group provided a trading update for the year ended 30 June 2021.

Beeks Financial Cloud Group, a leading cloud computing and connectivity provider for financial markets, announced today that the company has launched Proximity Cloud, the industry’s first private cloud environment for financial markets.

According to an official announcement shared with Finance Magnates, the company’s newly launched Proximity Cloud is a dedicated high-performance client-owned trading environment. The new offering is fully optimized for low latency trading conditions.

“Developed over the prior year and with the support of the proceeds from the fundraising in April 2021, Proximity Cloud has launched today with multiple client Proof of Concepts commencing. Proximity Cloud is a high-performance, dedicated and client-owned trading environment, fully optimized for low latency trading conditions and built with security and compliance at the forefront. Being hosted and managed on a client site, as opposed to within a Beeks facility, this new offering addresses a significant part of the market that was previously unavailable to the Company,” Beeks mentioned in the announcement.

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Beeks Financial Cloud Group has expanded its services significantly in the last 12 months. In November 2020, the company announced the launch of Beeks Analytics as a Service. During the same month, the financial markets connectivity provider partnered with Singapore Exchange (SGX) to provide ultra-fast connectivity.

Trading Update

In addition to the recent launch of Proximity Cloud, the company released a trading update for the year ended 30 June 2021. “The Group has experienced good levels of trading in the second half of the year, notwithstanding the ongoing impact of Covid-19, and expects to announce results in line with market expectations, delivering growth in both revenue and Underlying EBITDA on the prior year. The Group has continued to successfully expand its relationships with existing Tier 1 customers in the second half and has a growing pipeline of opportunities,” the announcement states.

“With an expanded, differentiated offering, growing sales network and increased sales pipeline, the Board remains confident in the Group’s ability to capitalize on the growing demand for cloud computing and connectivity from financial services organizations and the ongoing success of Beeks. The Company looks forward to providing a further update at the time of the Final Results, to be released in mid-September,” Beeks added.

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