Markets computing company Beeks Financial Cloud said it has secured two notable contracts, further underpinning the board’s expectations.

Following the strong start to the financial year, the Renfrewshire-based firm has signed a three-year contract with a major Canadian bank, with a total contract value of $1.5m.

It has also agreed an additional £2m extension to a contract recently won with a large FX broker, taking the total contract to £4m over five years.  Revenue from the two contracts is expected to commence in the first half the financial year.

Gordon McArthur, CEO, commented: “As described at the time of our final results, we have a wide range of opportunities progressing through our sales pipeline across the breadth of our product offering, demonstrating the growing appetite for our cloud computing and connectivity solutions across the global financial markets.

“With the proof of concept for our newest offering, Market Edge Intelligence, progressing to plan, opening up a significant additional market for the group, and Exchange Cloud contracts with major exchanges approaching completion, we remain confident in continued momentum across our business.”