Glasgow-based Beeks Financial Cloud Group plc, a cloud computing and connectivity provider for financial markets, announced the signing of a multi-year Proximity Cloud contract with a “leading global foreign exchange (FX) and multi-asset brokerage firm.”

Beeks said: “The contract, worth c.$2 million over four years, is for the deployment of the Beeks high performance, dedicated and client-owned trading environment across the client’s core FX platform, with revenue recognition set to commence in H2 FY25, further supporting current Board expectations.

“The latest win, in addition to the previously announced Exchange Cloud win with Kraken, reflects the Company’s strong H2 FY25 sales momentum, with a significant pipeline remaining and further commercial wins anticipated in the near term.”

Beeks CEO Gordon McArthur said: “This win reflects the growing demand for our solutions as financial services organisations accelerate their cloud strategies. We remain focused on the conversion of our substantial pipeline and we are confident in our ability to capitalise on the growth opportunity ahead.”