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KnowledgeNet announces the signing of TradeNet and Asset management solution contract with SICO company.
| Element List | Explanation |
|---|---|
| Introduction | KnowledgeNet announces the signing of TradeNet and Asset management solution contract with SICO company. |
| Date of Announcement of the Award | 2025-04-15 Corresponding to 1446-10-17 |
| Contract Subject Matter | KnowledgeNet will provide SICO with a comprehensive technology platform to meet their trading, brokerage, and asset management requirements |
| The Entity with Which the Contract was Signed | SICO Company |
| Date of Signing the Contract | 2025-04-15 Corresponding to 1446-10-17 |
| Contract Value | The contract value is SAR 6,641,250 (six million six hundred forty-one thousand two hundred fifty Saudi Riyals only). |
| Contract Details | KnowledgeNet will provide SICO with a comprehensive technology platform to meet their trading, brokerage, and asset management requirements for SICO company and its subsidiaries. TradeNet Modules required to support client’s institutional, and retail business as well as asset management. KnowledgeNet plan was to introduce the Asset Management Solution to the Saudi Market beginning of 2026. However, since there is increased interest from our partners and prospects, KN is expediting the development efforts to introduce the AMS earlier. Our Solution will include: 1. Trading channels (Desktop, Web, Mobile) 2. Digital customer onboard and KYC 3. Back Office 4. Market Data connectors 5. Exchange connectors and gateways 6. AMS (Front – to – Back solution) |
| Contract Duration | Long term partnership and commitment to use TradeNet software perpetual license |
| Financial Impact and the Relevant Period | The contract is expected to have a positive financial impact on the company. |
| Related Parties | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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