Beeks, a cloud computing and connectivity provider for financial markets,
has partnered with Securities & Trading Technology (STT) to enhance
exchange trading and clearing services in the global financial markets. According to the press release, this collaboration
aims to provide services targeting financial institutions.
Solving Trading Challenges
Beeks and STT aim to offer financial solutions
delivered as fully managed services. According to these organizations, this
approach alleviates the need for huge investments in infrastructure and
operational costs.
Zack Hodgson, the Chairman of STT, mentioned: “Joining
forces with Beeks represents a pivotal moment in our journey to redefine the
financial market landscape. Together, we are set to deliver a complete
state-of-the-art exchange trading and clearing solution, enabling institutions
of all sizes to excel in this dynamic environment.”
Last month, Beeks Financial Cloud Group released its financial report, concluding the first half of fiscal year 2024 on a high note.
With a remarkable increase of 25% year-over-year in revenue, the company
recorded a profit and exceeded expectations in several key metrics.
Beeks’ revenue for the first six months of FY24
reached £12.96 million, marking a substantial growth from the previous year.
This boost contributed to a significant rise in pre-tax profits, which soared
by 113 percent to £1.38 million. Besides that, Beeks Financial
Cloud Group plc reported noteworthy improvements in its earnings per
share.
Positive Financial Indicators
The earnings per share for the six months improved by 42 percent to 1.77 pence. Moreover, Beeks’ basic earnings per
share turned positive at 0.12 pence, a contrast to the previous year’s
loss of 0.73 pence. Beeks Group’s CEO, Gordon McArthur, expressed
confidence in the company’s prospects, emphasizing the growing adoption of
cloud technology in financial markets.
In February, Beeks experienced a remarkable 40% surge in the value of its shares following a series of pivotal
announcements. This expansion marked the highest value for the firm’s shares since 2022, reversing the downward trend Beeks experienced in recent years.
Beeks sealed a multi-million dollar, multi-year expansion
deal with an existing tier 1 investment management customer, Finance Magnates
reported. This agreement substantially boosted the value of the initial engagement with the client to $3.6 million over four years.
Beeks, a cloud computing and connectivity provider for financial markets,
has partnered with Securities & Trading Technology (STT) to enhance
exchange trading and clearing services in the global financial markets. According to the press release, this collaboration
aims to provide services targeting financial institutions.
Solving Trading Challenges
Beeks and STT aim to offer financial solutions
delivered as fully managed services. According to these organizations, this
approach alleviates the need for huge investments in infrastructure and
operational costs.
Zack Hodgson, the Chairman of STT, mentioned: “Joining
forces with Beeks represents a pivotal moment in our journey to redefine the
financial market landscape. Together, we are set to deliver a complete
state-of-the-art exchange trading and clearing solution, enabling institutions
of all sizes to excel in this dynamic environment.”
Last month, Beeks Financial Cloud Group released its financial report, concluding the first half of fiscal year 2024 on a high note.
With a remarkable increase of 25% year-over-year in revenue, the company
recorded a profit and exceeded expectations in several key metrics.
Beeks’ revenue for the first six months of FY24
reached £12.96 million, marking a substantial growth from the previous year.
This boost contributed to a significant rise in pre-tax profits, which soared
by 113 percent to £1.38 million. Besides that, Beeks Financial
Cloud Group plc reported noteworthy improvements in its earnings per
share.
Positive Financial Indicators
The earnings per share for the six months improved by 42 percent to 1.77 pence. Moreover, Beeks’ basic earnings per
share turned positive at 0.12 pence, a contrast to the previous year’s
loss of 0.73 pence. Beeks Group’s CEO, Gordon McArthur, expressed
confidence in the company’s prospects, emphasizing the growing adoption of
cloud technology in financial markets.
In February, Beeks experienced a remarkable 40% surge in the value of its shares following a series of pivotal
announcements. This expansion marked the highest value for the firm’s shares since 2022, reversing the downward trend Beeks experienced in recent years.
Beeks sealed a multi-million dollar, multi-year expansion
deal with an existing tier 1 investment management customer, Finance Magnates
reported. This agreement substantially boosted the value of the initial engagement with the client to $3.6 million over four years.
