Last checked at 19 Jun 2023 07:00
Beeks Financial Cloud Group plc
("Beeks" or the "Company")
Exchange Cloud win
19 June 2023 - Beeks Group and IPC to Power Customer Private Cloud Deployments for the Johannesburg Stock Exchange (JSE). The collaboration brings world-class IaaS solutions to Africa's largest financial market.
Second Exchange customer secured for Exchange Cloud
Following the launch of Exchange Cloud in June 2022, Beeks and its partner, IPC, a leading provider of electronic trading solutions for the global financial markets, announces the signing of a contract with the Johannesburg Stock Exchange (JSE), the largest stock exchange in Africa, to power customer private cloud deployments. The collaboration will see the deployment of an advanced managed Infrastructure-as-a-Service (IaaS) solution for the JSE, called Colo 2.0, which the exchange will be able to offer direct to their own customers. JSE's clients will be able to utilise all the capabilities of IPC and Beeks Exchange Cloud, including on-demand cloud and analytics capabilities.
The innovative service enables exchanges to become the cloud and seeks to empower the exchange to directly mitigate the often-costly challenges faced by clients, such as monitoring, maintenance, and time to market concerns. Taking advantage of the benefits of a managed service provider and the Infrastructure-as-a-Service model, JSE will be able to offer additional capabilities and further choice to their client base.
The project will be delivered from Beeks' existing stock supplies and will have no requirement for cash investment to fulfil the contract.
Langa Manqele, Head of Equities and Equity Derivatives at Johannesburg Stock Exchange, commented: ""The launch of Colo 2.0 will further entrench our position as a centre of innovation for financial markets on the African continent. We will provide our clients with leading edge innovative hosting and connectivity solutions for their colocation needs. This collaboration with two global market leaders is paramount to fostering innovation at the JSE".
Gordon McArthur, CEO at Beeks, commented: "Africa is fast emerging as an influential global player and this is a huge opportunity for Beeks, IPC and the JSE to help drive capital markets innovation and development in Africa. By reducing CapEx spend and operational barriers to entry, our flexible solution allows the JSE to offer a branded cloud service in their own facility, and control that infrastructure easily at scale, turning a cost centre into a profit centre. Beeks Group's Exchange Cloud offering derived from an identified demand from global exchanges for a secure muti-client private cloud environment and we are delighted to share that vision with the JSE and look forward to establishing a long-term and successful relationship".
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
For further information please contact:
Beeks Financial Cloud Group plc | |
Gordon McArthur, CEO | via Alma PR |
Fraser McDonald, CFO | |
Canaccord Genuity | +44 (0)20 7523 8000 |
Adam James / Patrick Dolaghan | |
Alma PR | +44(0)20 3405 0205 |
Caroline Forde / Hilary Buchanan / Joe Pederzolli |
About JSE
The Johannesburg Stock Exchange (JSE) has a well-established history of operating as a marketplace for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world-class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent.
The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 135 years. As a leading global exchange, the JSE co-creates unlocks value & makes real connections happen. www.jse.co.za
About Beeks:
Beeks is a leading managed cloud computing and analytics provider for Capital Markets and financial services. Our vision is simple: Build. Connect. Analyse.
With a growing international network of data centres, Beeks provides end-to-end outsourcing of compute environments by delivering low-latency compute and analytics, on demand. Our cloud-based Infrastructure-as-a-Service (IaaS) model allows financial organisations the flexibility and agility to deploy and connect to exchanges, trading venues and cloud service providers at a fraction of the cost of building their own networks and infrastructure.
ISO 27001 certified, Beeks supports its global customers at scale exclusively within global capital markets and leading financial centres. beeksgroup.com
About IPC:
A specialist technology and service leader powering global financial markets for over 50 years, IPC Systems is at the forefront of electronic trading connectivity and state-of-the-art cloud communications, setting the standard for exceptional service, innovation, and expertise.
IPC's customer-first approach is bolstered by an extensive and diverse financial ecosystem that spans all asset classes and connects market participants anywhere in the world for enhanced communication, collaboration, and compliance. Global services include electronic trading, trading communications, and infrastructure-as-a-service solutions.
IPC is ideally positioned to anticipate change and remain aligned with rapidly transforming markets, and to empower customers to adapt to change, now and in the future.
To learn more, visit www.ipc.com, explore our Insights page and follow us on LinkedIn.