Johannesburg Stock Exchange expands partnership with Beeks Financial Cloud for enhanced disaster recovery solution

Beeks Financial Cloud Group plc (AIM: BKS), a leading cloud computing and connectivity provider for financial markets, announced a significant contract extension with the Johannesburg Stock Exchange (JSE). This extension involves the provision of Beeks’ Exchange Cloud service to a second data center location, further solidifying the partnership between the two organizations.

The JSE’s Colo 2.0, an advanced managed infrastructure-as-a-service, leverages the Beeks Exchange Cloud offering in collaboration with IPC. Colo 2.0 offers JSE customers innovative hosting and connectivity solutions, including on-demand private cloud computing and low-latency analytics. The service has seen substantial adoption since its launch in September 2023, prompting an earlier contract extension in March 2024 to accommodate stronger-than-expected customer demand.

Under the new multi-year contract extension, the Colo 2.0 service will also be available at the JSE’s Teraco data center. This expansion aims to meet the dual location disaster recovery requirements of large banks, ensuring that the JSE can offer a robust and compliant infrastructure solution to its clients.

Tebalo Tsoaeli, Chief Innovation Officer at the JSE, highlighted the growing demand for Colo 2.0, stating, “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, expressed enthusiasm about the ongoing partnership, noting, “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.”

Beeks Financial Cloud Group, founded in 2011 and listed on the London Stock Exchange (LSE: BKS), specializes in providing managed cloud services tailored to the financial sector. The company’s Infrastructure-as-a-Service model is optimized for low-latency private cloud computing, connectivity, and analytics, offering clients a flexible and hybrid cloud experience.