FOR IMMEDIATE RELEASE
14 July 2020, London: Beeks Financial Cloud (AIM: BKS) and Velocimetrics announce today the appointment of Matthew Cretney as the head of product management. Cretney is an experienced technologist with decades of working in FinTech and infrastructure, with most of those years spent with Reuters/Refinitiv. At Thomson Reuters he was the technical product lead for Refinitiv’s SaaS multi-tenant white-labelled FX eTrading capability and oversaw the development of Refinitiv’s FX Spot and Forwards Matching services.
Cretney was attracted to the role at Beeks after its acquisition of Velocimetrics in April 2020. He sees the combination of Beeks and Velocimetrics as an important evolution in financial markets because it is uniquely positioned to provide independent real-time monitoring for the significant increases in data volumes which the industry is seeing, at greatly reduced operating costs. Cretney has a specific interest in the FX market and is keen to bring the full benefits of the Beeks/Velocimetrics solution to this fast-moving and complex market sector, where the increasing proliferation of venues and diversity of trading platforms makes accurate monitoring a competitive differentiator for market participants.
Cretney commented: “It’s a recurring theme in technology: when a solution or an established methodology appears to have run its course, the next new technology appears and quickly takes the lead over established legacy systems or approaches. With the ongoing investment in the Velocimetrics product set, Beeks and Velocimetrics are demonstrating a better, faster, cheaper answer to an increasingly complex set of requirements and I want to be part of that new future.”
He added: “Velocimetrics’ real-time network performance analytics, together with Beeks’ innovative financial cloud are a very powerful combination.”
Gordon McArthur, CEO of Beeks, said: “I’m delighted to welcome Matthew to our team and for him to lead our product management. Matthew brings a valuable depth of knowledge and experience to Beeks. But, even more importantly, he is well-aware of the frustrations and limitations across the FinTech sector and shares our vision of developing and supporting significant change for the better. In Matthew, we have a real asset joining Beeks, and I look forward to seeing his contribution to our growth and development.”
Beeks is the global provider of Infrastructure as a Service (IaaS) for low-latency financial markets and acquired Velocimetrics in April 2020. Velocimetrics technology provides businesses with tracking and real-time, in-stream performance analytics. It recently announced the release of its unique, modular, software-only approach to monitoring and analytics of 100Gbps network feeds for exchanges and trading companies across the globe.