Page 35 - Beeks Financial Cloud Group Annual Report 2021

Beeks Financial Cloud Group PLC
Chairman’s Introduction For the year ended 30 June 2021

Chairman’s

Introduction

As chairman of the Board it is and below there is an explanation ultra-low latency compute power
my responsibility to ensure that of the approach taken in relation in the exceedingly fast-moving
the highest standards of corporate to each. The Board considers that capital markets sector.
governance are embraced it does not depart from any of the
throughout The Group. All members principles of the QCA Code. Beeks provides:
of the Board believe strongly in / Managed private, hybrid and
the value and importance of good Set out below is an explanation public cloud solutions
corporate governance and in at a high level of how The Group / Dedicated and virtual servers
The Group’s accountability to all currently applies the principles of that host traders and brokers in
of Beek’s stakeholders, including the QCA Code and, to the extent data centres around the world GOVERNANCE
shareholders, staff, contractors, applicable, those areas where The with secure set up
clients and suppliers. Group’s corporate governance / Ultra-low latency connectivity
structures and practices differ from between clients and key financial
The corporate governance the expectations set out in the venues and exchanges
framework which The Group QCA Code. / Analytics; traditional
operates, including Board software-based solutions or
leadership and effectiveness, Board We are confident that our hosted in a Beeks environment
remuneration, and internal control approach to corporate governance in key financial data centres
is based upon practices which the will underpin the development of a
Board believes are proportional strong organisation, well positioned The business model focuses on
to the size, risks, complexity and to take the business to the next efficiency and flexibility, offering
operations of the business and is phase of growth. our clients the ability to scale up
reflective of The Group’s values. Of and scale down as needed. Due
the two widely recognised formal PRINCIPLE 1: ESTABLISH A to market fluctuations and the
codes, The Group decided, on STRATEGY AND BUSINESS inherent risk involved in algorithmic
admission of its shares to AIM in MODEL WHICH PROMOTES trading strategies, this makes our
November 2017, to adhere to the LONG-TERM VALUE FOR services highly attractive to clients.
Quoted Company Alliance’s (“QCA”) SHAREHOLDERS
Corporate Governance Code Beeks Financial Cloud Plc The Group’s strategy can be viewed
for Small and Mid-Size Quoted is a leading managed cloud on pages 4 to 23.
Companies (revised in April 2018 to computing, connectivity and
meet the current requirements of analytics provider exclusively
AIM Rule 26). for capital markets and financial
services, offering Infrastructure
The QCA Code is constructed as a Service (IaaS) to global
around ten broad principles and institutional and retail companies
a set of disclosures. The Group across multiple asset classes.
has considered how it applied
each principle to the extent that Beeks’ strategy is to ensure
the Board judges these to be maximum security, optimise
appropriate in the circumstances, performance and deliver
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