Beeks Financial Cloud Group, a specialist in building trading platforms for global stock markets, has announced a significant new contract worth £2.1 million with a major foreign exchange broker. This five-year deal marks an expansion of the broker’s existing relationship with Beeks, transitioning to a more advanced cloud infrastructure.
Key Takeaways
- Beeks Financial Cloud has signed a £2.1 million, five-year contract with a large foreign exchange broker.
- The deal involves the broker expanding its use of Beeks’ infrastructure to Proximity Cloud.
- Revenue recognition for the contract is expected to commence in the current financial year.
- The win underscores Beeks’ strong offering and potential for growth within its existing client base.
Expanded Cloud Services Deal
The newly secured contract will see the foreign exchange broker, who has been a private cloud customer of Beeks since September 2025, upgrade its services. The broker will now leverage Beeks’ Proximity Cloud, a high-performance, dedicated, and client-owned trading environment. This expansion will span across multiple locations, indicating a significant increase in the scope of services provided.
Strategic Growth and Financial Outlook
Gordon McArthur, CEO of Beeks, expressed optimism about the deal, stating, "This latest win highlights both the strength of our offering and the significant expansion potential across our growing customer base of major financial institutions." He added that the company is experiencing "strong momentum" and remains focused on capitalising on its "considerable and growing pipeline" of opportunities.
This contract win comes at a time when Beeks is looking to build on recent financial performance. While the company reported an underlying loss of £0.69 million in its recent half-year figures, it anticipates substantial profit growth in the second half of the year, driven by the influx of recently secured contracts. The value of new contracts signed during the period saw a notable increase of 23%, reaching £11.9 million compared to £9.7 million in the same period last year.
Sources
- Beeks seals £2.1 million cloud contract with broker – Daily Business, Daily Business.
