KnowledgeNet signs brokerage, custody services management contract with Beltone

Logo of KnowledgeNet Co.

KnowledgeNet Co. signed on Jan. 13 a SAR 3.2 million contract with Beltone Securities Brokerage, Beltone Securities Holding, and Beltone Fixed Income, to run financial brokerage and custody services using its TradeNet products.

 

According to a statement to Tadawul, KnowledgeNet will replace and upgrade the current brokerage and custody system with the TradeNet Back Office System and the TradeNet Custody System.

 

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The project will provide a fully integrated software solution designed to enhance the management, operation, monitoring, and control of all brokerage and custody operations with high efficiency and advanced automation.

 

The statement pointed out that this is a long-term partnership, with a commitment to using an indefinite-term license for the TradeNet program starting from January 2025.

 

The contract is expected to have a positive financial impact on the company, the statement added.

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