Beeks Financial Cloud Group PLC shares rose on Monday as it named ICE Global Network as its first Exchange Cloud customer.

Shares in the Glasgow-based cloud computing and connectivity provider were up 9.8% to 157.00 pence each in London on Monday morning.

Beeks said that in its financial year to June 30, it has delivered a ‘record’ trading performance, in line with upwardly revised market expectations.

The company added that it has ended the year with annualised committed monthly recurring revenue of over £19.3 million, up 40% from the previous year.

It expects to released its final results for the 2022 financial year in early October

Further, Beeks named ICE Global Network as its first customer for Exchange Cloud. ICE Global Network is part of ICE Data Services, a division of Intercontinental Exchange Inc, the operator of the New York Stock Exchange.

‘Exchange Cloud is a multi-home, fully configured and pre-installed physical trading environment that has been fully optimised for global Exchanges to offer cloud solutions to their end users,’ the company explained.

Back in June, Beeks said that an unnamed major equities exchange is under contract to deploy Exchange Cloud later this year.

This is a multi-year deal with a period of exclusivity, with the collaboration enabling the customer to provide their client base with compute and analytics, on demand.

‘IGN can now deliver additional value to their clients with Beeks Group’s Exchange Cloud infrastructure, compute and analytics offering private cloud services at their NY4 data centre in Secaucus, New Jersey with plans to further expand the service in IGN data centres around the world,’ it added.

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