Beeks wins Johannesburg Stock Exchange contract

Glasgow-based Beeks Financial Cloud Group plc and partner IPC announced the signing of a contract with the Johannesburg Stock Exchange (JSE).

Beeks is a cloud computing and connectivity provider for financial markets. 

“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,” said Beeks.

“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, said: “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”.

Beeks CEO Gordon McArthur said: “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.”