Beeks Financial Cloud Group, the Glasgow-based private infrastructure and connectivity provider for financial markets, said Grupo Bolsa Mexicana de Valores (BMV), the second-largest exchange in Latin America, has signed an agreement with IPC “to deploy Beeks’ technology infrastructure for co-location.”
Beeks shares rose about 6%. The firm’s shares have risen about 90% over the past year to £3.18 to give the company a stock market value of about £213 million.
Beeks said the deployment “includes primary and disaster recovery sites in Mexico City, providing a secure solution to support BMV’s market growth and innovation.”
With the launch of this new infrastructure, set to go live in the second half of 2025, BMV will provide secure and scalable co-location services to its clients.
“This will allow clients to host their operations directly on the platform, eliminating the need for a proprietary site, reducing barriers to entry for market participants and facilitating their operation in the Mexican financial markets.” said Beeks.
“The agreement has been signed with Beeks’ partner, IPC, a leading provider of electronic trading solutions for the global financial markets, marking an intended multi-year partnership between Beeks, IPC and BMV. Beeks will manage end-to-end deployment of the infrastructure.
“With revenue recognition set to commence at the point of the solution’s delivery, the deal further underpins the board’s FY25 expectations and adds to the company’s increasing levels of contracted, multi-year, recurring revenue.
“BMV is the fourth major international exchange to implement the Beeks infrastructure, reinforcing Beeks’ positioning as a trusted partner for financial institutions. The company is confident in fulfilling the offering’s transformational potential, with advanced discussions taking place with other major Exchanges across the globe.”
Grupo BMV CEO Jorge Alegría said: “This agreement allows us to deliver cutting-edge technology, with a low-latency infrastructure deployed locally in Mexico City.
“We are well-positioned to meet the evolving needs of our market participants, remain at the forefront of innovation and as a leader in the region.”
Beeks CEO Gordon McArthur said: “We’re proud to partner with BMV and leverage our established relationship with IPC to deliver cutting-edge solutions to the financial markets.
“With four major exchanges now signed up and more in discussion, we have never been more confident in our ability to capture the opportunity ahead.”