The Beeks Financial Cloud Group PLC (LON: BKS), a cloud computing provider and connectivity for financial markets, has announced today that it has signed an important clouds of multi -year exchange clouds with Australian Securities Exchange (ASX).
The development of the Exchange Cloud supports ASX’s new Colcotion On Deamnet service. This fully managed “infrastructure as a service solution” gives customers access to gradual and secure private cloud computing and ensure the high -performance trade infrastructure connected in downtown Australia (ALC), a data center that operates at the center of Australian financial markets, reducing the costs.
With the abolition of the need for customers to own and exploit their own infrastructure, ASX COLO ONDEMAND expands ASX connectivity services and significantly reduces the obstacles of entry into Australian financial markets for businesses of all sizes.
This partnership is a revenue agreement, with revenue recognition expected to begin in 2025, further contributing to the expectations of the Board of Directors and adding to the increasing levels of conventional, multi -year, repetitive revenue of the company.
Beeks’ transition to a model of shareholding for Cloud exchange contracts offers various trade advantages, including shortened circles of sales, as evidenced by the two most recent wins in Cloud Exchange, as well as the highest long -term profitability.
The company is considering the future with confidence and is well positioned to provide further growth.
Gordon McArthur, CEO of Beeks, commented:
“We are pleased to welcome ASX as a Cloud exchange customer and support their new innovative CONTOCATION ON DEMAND. This collaboration proves ASX’s commitment to help their customers access the wetter markets in Australia and beyond that, through safe, scales and flexible infrastructures.
Jamie Crank, Executive Group, Technology & Data, said:
“This new offer first sets the needs of our customers and has the ability to benefit a market part, such as market businesses, specialized and smaller broker and investment companies and emerging software providers.
“This solution, which focuses on facilitating our customers to connect with Australia’s financial markets, creates a more convenient, affordable and stepped choice that removes the weight of businesses managing their own infrastructure.
“The ASX Colo OnDemand gives customers the access they need, without the cost and complexity of their management themselves.”