The Glasgow-headquartered company will deploys its exchange cloud platform across the SET market to deliver a “suite of connectivity market data and co-location services within a single managed environment”.

Beeks said in a statement that its technology will underpin the SET’s market infrastructure and is expected to go live in the first half of 2027 with “revenue recognition” following under a revenue sharing model to support Beeks’ “base of long-term, high-quality recurring revenues.”

The group added: “The agreement represents a significant milestone in expanding Beeks’ footprint in the Asia-Pacific region, establishing Beeks as the partner of choice for major exchanges across multiple target regions. It marks the eighth exchange to adopt Exchange Cloud, as global traction continues to build, paving the way for future expansion in APAC and beyond.”

Beeks chief executive Gordon McArthur said: “This adoption of Exchange Cloud by the Stock Exchange of Thailand demonstrates the growing global appetite for on-premise cloud as an exchange’s infrastructure. SET is one of Southeast Asia’s most important and dynamic exchanges, and we are proud to be the infrastructure partner they have chosen.

“The contract expands our presence in the strategically important APAC region, strengthens our forward revenue visibility, and further reinforces the substantial market opportunity for Exchange Cloud.”