Beeks Financial Cloud Group plc (LON:BKS), a cloud computing and connectivity provider for financial markets, today announced the signing of a multi-year agreement with the Stock Exchange of Thailand (SET) for the deployment of Beeks’ Exchange Cloud platform across the SET market.
Beeks will deploy its Exchange Cloud® platform to underpin SET’s market infrastructure, delivering a suite of connectivity market data and co-location services within a single managed environment. The service is expected to go live in H1 FY27 and revenue recognition thereafter, under a revenue share model, supporting Beeks’ base of long-term, high-quality recurring revenues.
SET is one of Southeast Asia’s most established and actively traded capital markets. The decision to deploy Beeks Exchange Cloud® reflects the increasing adoption of on-premise cloud as an exchange’s infrastructure and SET’s ambition to position itself as a technologically advanced trading environment.
The agreement represents a significant milestone in expanding Beeks’ footprint in the Asia-Pacific region, establishing Beeks as the partner of choice for major exchanges across multiple target regions. It marks the eighth exchange to adopt Exchange Cloud®, as global traction continues to build, paving the way for future expansion in APAC and beyond.
Gordon McArthur, CEO of Beeks, commented:
“This adoption of Exchange Cloud® by the Stock Exchange of Thailand demonstrates the growing global appetite for on-premise cloud as an exchange’s infrastructure. SET is one of Southeast Asia’s most important and dynamic exchanges, and we are proud to be the infrastructure partner they have chosen.
“The contract expands our presence in the strategically important APAC region, strengthens our forward revenue visibility, and further reinforces the substantial market opportunity for Exchange Cloud®.”