Beeks Financial Cloud inks service partnership with STT

5th Apr 2024 10:56

(Sharecast News) - Beeks Financial Cloud announced a strategic collaboration with Securities & Trading Technology (STT) on Friday, which it described as a reputable entity specialising in trading, clearing, and surveillance technology.

The AIM-traded firm said the partnership would see the introduction of a service-oriented solution to meet the demands of global financial markets.

Beeks said efficiency, reliability, and scalability were crucial for trading and clearing operations, with the alliance between Beeks' financial cloud infrastructure and STT's trading and clearing systems set to deliver a suite of services.

It said clients would benefit from streamlined operations, reduced costs, and improved market competitiveness.

The company said the joint offering would encompass all facets of exchange trading, spanning execution, risk management, surveillance, post-trade clearing, and settlement processes.

Delivered as a fully-managed service, the board said the solution would relieve financial institutions of the burden associated with heavy infrastructure investments and operational overheads, enabling them to concentrate on core business activities.

"Our collaboration with STT marks an exciting chapter in our mission to innovate the financial services industry," said chief executive officer Gordon McArthur.

"By leveraging our combined expertise, we will provide clients with a streamlined, risk-mitigated solution that is poised to transform the way financial institutions operate."

At 1104 BST, shares in Beeks Financial Cloud Group were up 1.53% at 180.21p.

Reporting by Josh White for Sharecast.com.