The UK-based low latency provider for institutional capital markets has agreed to connect EQUANT’s users via its cloud system, thus adding the leading cryptocurrency exchange with prime brokerage services as a destination trading venue. Beeks currently hosts BEQUANT’s matching engine within its dedicated network, guaranteeing consistent speed of access for all participants.
BEQUANT’s professional trading clients, including investment banks,hedge funds, and other proprietary traders will benefit from the new partnership as they now can use the most demanding algorithmic strategies, with secure infrastructure and low latency connectivity for cryptocurrency trading on the exchange.
George Zarya, Chief Executive Officer of BEQUANT Exchange and prime brokerage services said: “We are delighted to have agreed to the extension of our partnership with Beeks. Both organizations are going through the same evolution pattern so it’s a great way to leverage each other’s brand and provide our users with a greater trading experience.”
Gordon McArthur, CEO of Beeks Financial Cloud, commented: “The digital asset landscape is constantly expanding and customers are looking for more high-speed, secure connectivity options to licensed exchanges. We are pleased to build on our partnership with BEQUANT Exchange, and offer our clients greater opportunities and advantages when trading.”
BeQuant launched its London-based cryptocurrency exchange last year,already supporting institutional trading as the emerging asset class increasingly makes a mark in Wall Street. Its Chief Compliance Officer is Erik Wilgenhof Plante, who helped Abu Dhabi to draft its cryptocurrency regulatory framework and was Head of Compliance for itBit and PayPal.
Earlier this year, Beeks acquired the assets of Commercial Network Services (CNS), a US-based online service provider specialized in hosting low latency algorithmic trading systems, virtual private networks, and streaming media from data centers, with approximately 1,000 retail traders across multiple geographies, bringing an annualized recurring revenue of approximately $1.0 million. The deal, for a total consideration of up to $1.4 million, is in line with the growth strategy drawn ever since the 2017 IPO, combining organical growth with tactical and strategic acquisitions. At the time, Beeks was valued at £24.5 million as it aimed to raise £7 million from several institutional investors such as Hargreave Hale, Octopus, and Livingbridge.
