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Beeks forms new service collaboration with SGX
CaaS provides swift, reliable access to trading platforms on the exchange
27 Nov 2020 | The Asset

Beeks Group has established a co-location as a service (CaaS) collaboration with the Singapore Exchange (SGX), allowing customers to gain swift and reliable access to securities, fixed-income and derivatives trading platforms on the exchange.

The collaboration provides an on-demand virtual or bare-metal infrastructure from Beeks Financial Cloud within the SGX co-location rack space. CaaS offers ultra-low-latency access to the SGX trading platforms via a choice of shared or dedicated fibre uplinks from Beeks. It can be activated within 24 hours. The CaaS packages are available on 30-day commitments via the Beeks Marketplace.

“The digital transformation of businesses worldwide has been accelerated by the Covid pandemic, underscoring the role of infrastructure and co-location as a service in the face of global disruptions and travel restrictions,” says Ng Kin Yee, managing director, head of data, connectivity and indices at SGX.

“We are delighted to be partnering Beeks to provide our customers with access to SGX’s mission-critical engines at the fastest speeds, without the need for physical access to the data centre and the associated upfront costs. As more firms migrate to cloud-based services, we will continue to provide innovative and resilient solutions to cater to changing industry needs.”

Beeks added SGX to its infrastructure in June 2018 to provide cloud services and access to market data to facilitate automated trading in assets on the Singapore Exchange, connecting to their Tokyo, Hong Kong and London locations directly and providing the ability for ultra-low-latency trading between these locations.

According to Beeks, SGX Co-Location offers the fastest access to SGX trading platforms and provides hosting services in a secure, reliable and robust environment. Housed in one of Singapore’s most advanced data centres and designed to meet the rigorous demands of global financial institutions, the services present an opportunity to place customer systems in the same data centre as SGX's mission-critical trading and market data engines.

Beeks chief executive officer Gordon McArthur notes: “Singapore is a key global trading hub and we have received substantial demand from our institutional clients to expand low-latency trading solutions. Growth throughout Asia-Pacific is a key part of our growth strategy and I’m pleased our collaboration with SGX is another step to achieving this.”

Beeks’ infrastructure comprises a growing network of data centres that allow direct, secure access to key financial hubs and exchange locations in the global market. As well as Singapore, Beeks is currently live in Hong Kong, Tokyo and Sydney, allowing customers a variety of trading opportunities across both over-the-counter and exchange-based markets in the Asia-Pacific region.