Extension of JSE Contract

20 August 2024 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce that the Johannesburg Stock Exchange (JSE) has signed a further significant contract extension for the provision of Beeks' Exchange Cloud, to a second data centre location. The multi-year contract extension further supports the Board's confidence in its financial expectations.

The JSE's Colo 2.0 is an advanced managed infrastructure as a service based on the Beeks Exchange Cloud offering, in partnership with IPC. Colo 2.0 provides JSE customers with leading edge innovative hosting and connectivity solutions, accessing on-demand private cloud computing and low latency analytics.

Under the extended contract, the service will also be available at the JSE's Teraco data centre, specifically to meet the needs of large banks' regulatory requirements for dual location disaster recovery.

This expansion follows the successful launch of the JSE Colo 2.0 in September 2023, and a significant contract extension in March 2024 to meet stronger than anticipated customer demand.

Tebalo Tsoaeli, Chief Innovation Officer at the JSE, commented: "Since the launch of Colo 2.0 in September 2023, JSE has seen significant adoption of the Colo 2.0 service by customers, demonstrating a clear demand for the product offering. This has resulted in additional demand for a secondary solution aimed at addressing the redundancy and Disaster Recovery requirements of existing customers. Through our partnership with Beeks and IPC, JSE seeks to power a truly cloud-based marketplace infrastructure that is modern, hyper-scalable, ultra-resilient, highly performant, and accessible to all market participants."

Gordon McArthur, CEO at Beeks, commented: "We are delighted to announce this further expansion with the JSE to meet the growing demand for the Colo 2.0 service from the JSE's customers. Exchange Cloud continues to be a unique offering in the market, and the success of the solution at the JSE is supporting our discussions with other global exchanges, underpinning our confidence in continued momentum."

Find out more at beeksgroup.com