Beeks Group, a leading cloud computing and connectivity provider for financial markets, has announced a significant expansion of its partnership with the Johannesburg Stock Exchange (JSE) and IPC Systems. This extension will see Beeks’ Exchange Cloud service deployed at the JSE's Teraco data centre, bolstering the exchange's Colo 2.0 offering with enhanced dual location disaster recovery capabilities.
JSE's Colo 2.0 is an advanced managed infrastructure as a service powered by Beeks’ Exchange Cloud, in collaboration with IPC, a leading provider of electronic trading solutions. The service provides JSE customers with innovative hosting and connectivity solutions, accessing on-demand private cloud computing and low latency analytics. With the new integration at Teraco, Colo 2.0 not only enhances redundancy to meet the regulatory demands of large financial institutions but also exemplifies the operational agility that Beeks’ solutions and industry collaboration bring to market infrastructure.
This expansion is a testament to the agility and scalability of Beeks’ Exchange Cloud, and IPC’s data centre presence/fully hosted IaaS data centre solutions, enabling the JSE to quickly respond to market demands and regulatory requirements. By seamlessly scaling operations to include a secondary data centre, the JSE ensures that its infrastructure remains robust, resilient, and capable of adapting to the evolving needs of its customers.
The expansion builds on the successful launch of Colo 2.0 in September 2023 and follows a significant contract extension in March 2024 driven by higher-than-expected demand from the financial sector.
Significant Customer Adoption
Tebalo Tsoaeli, Chief Innovation Officer at the JSE, highlighted the strong uptake of the Colo 2.0 service since its introduction, noting the additional demand for a secondary solution that addresses redundancy and disaster recovery needs.
“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,” said Tsoaeli.
Supporting Global Market Demand
Gordon McArthur, CEO of Beeks, expressed enthusiasm about the continued partnership with the JSE.
“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,” McArthur stated.
Market Impact and Future Outlook
Beeks’ collaboration with the JSE and IPC exemplifies the growing trend towards cloud-based solutions in financial markets, particularly in regions like Africa where digital infrastructure is rapidly evolving. By leveraging the operational agility and collective power of Beeks’ and IPC’s solutions, the JSE can swiftly adapt to changing market conditions, ensuring continuous high performance and resilience. This partnership underscores Beeks' role as a thought leader in the space, delivering innovative technology solutions that drive the future of financial market infrastructure.
As financial markets continue to prioritise security, scalability, and performance, Beeks remains at the forefront of delivering solutions that address these critical needs, positioning itself as a key player in the future of financial market infrastructure.
