Beeks Financial Cloud Group (Beeks) announced this Monday that it has added the London Metal Exchange (LME) as a new liquidity venue. The announcement comes just one month after the firm confirmed it would be connecting to Interxion’s London-based data centre that is itself connected to the LME.
Founded in 2011, Beeks is a low-latency infrastructure-as-a-service (IaaS) provider. For those unfamiliar with this particular piece of tech-speak, that means Beeks provides a high speed, cloud-based trading network to institutional and retail investors. Currently, the firm provides services that enable automated trading in FX, futures, equities, fixed income and cryptocurrency financial products.
Strength to strength
The firm has been extremely successful since its launch less than ten years ago. After enjoying several successful years, the firm joined the London Stock Exchange in November of 2017 in a bid to raise £7 million ($9.33 million) in funding.
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Beeks’ current clientele consists of over 150 institutional firms and approximately 6000 virtual-private-service customers. At the start of this year, 30 different FX brokers were using their services in the form of a white-label partnership.
The addition of the LME to the firm’s set of liquidity venues will likely increase demand for their services. This is because the LME is currently the largest market in the world for options and futures contracts in base and other metals.
Discussing the connection to the LME, Gordon McArthur, CEO of Beeks Financial Cloud, said: “Connection to the London Metal Exchange has been driven by demand from our clients looking to participate in the base and other metals futures and options markets. We are pleased that the Beeks service with the LME will create further trading opportunities for our clients.”