KnowledgeNet Announces Strategic Partnership with Beltone for Brokerage and Custody System Modernization
| Element List | Explanation |
|---|---|
| Introduction | KnowledgeNet Co, announces the signing of TradeNet Brokerage System - Back office and Custody System contract for
• Beltone Securities Brokerage • Beltone Securities Holding • Beltone Fixed Income |
| Date of Announcement of the Award | 2025-01-13 Corresponding to 1446-07-13 |
| Contract Subject Matter | To replace and modernize the existing brokerage and custody system to KnowledgeNet TradeNet Back office and Custody System. |
| The Entity with Which the Contract was Signed | • Beltone Securities Brokerage
• Beltone Securities Holding • Beltone Fixed Income |
| Date of Signing the Contract | 2025-01-13 Corresponding to 1446-07-13 |
| Contract Value | The contract value is SAR 3,200,625
(Three million two hundred thousand six hundred twenty-five Saudi Riyals only). |
| Contract Details | KnowledgeNet strategic announce a new partnership with Beltone Securities Brokerage, Beltone Securities Holding, and Beltone Fixed Income to replace and modernize the current brokerage and custody management system with the TradeNet Back Office and TradeNet Custody systems.
This project will provide a fully integrated software solution designed to manage, operate, monitor, and control all brokerage and custody operations with high efficiency and advanced automation |
| Contract Duration | Long term partnership and commitment to use TradeNet software perpetual license starting From January 2025 |
| Financial Impact and the Relevant Period | The contract is expected to have a positive financial impact on the company. |
| Related Parties | N/A |
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