(Alliance News) - Beeks Financial Cloud Group PLC on Friday announced a strategic partnership with trading, clearing and surveillance technology firm Securities & Trading Technology.
The Glasgow-based cloud computing and connectivity provider said the collaboration introduces a service-based solution to "meet the evolving needs of the global financial markets, at a time where the efficiency, reliability, and scalability of trading and clearing solutions are paramount".
Beeks said by combining its financial cloud infrastructure with STT's trading and clearing systems, clients will benefit from "a comprehensive suite of services that will streamline operations, reduce costs, and enhance market competitiveness".
The partnership will cover "all aspects" of exchange trading, including execution and risk management, surveillance, post-trade clearing and settlement processes.
Beeks said the solution "liberates financial institutions from the burden of heavy infrastructure investments and operational overhead, allowing them to focus on their core business activities".
"Our collaboration with STT marks an exciting chapter in our mission to innovate the financial services industry," said Chief Executive Officer Gordon McArthur. "By leveraging our combined expertise, we will provide clients with a streamlined, risk-mitigated solution that is poised to transform the way financial institutions operate."
STT Chair Zack Hodgson commented: "Joining forces with Beeks represents a pivotal moment in our journey to redefine the financial market landscape. Together, we are set to deliver a complete state-of-the-art exchange trading and clearing solution, enabling institutions of all sizes to excel in this dynamic environment."
Shares in Beeks rose 2.5% to 181.85 pence each in London on Friday morning.
By Greg Rosenvinge, Alliance News senior reporter
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