WAMID

Tadawul Advanced Solutions Company

WAMID was established to support the Saudi financial market through innovation, in line with the Saudi's ambitious Vision 2030. It is a leading company in creating new products and services, developing the latest technologies to provide value-added solutions to market participants and businesses, and helping them deal with real-world challenges by optimizing the use of modern technology and date capabilities. WAMID is also committed to grow the Saudi financial market, increasing acquisition operations, and supporting initiatives to digitize products and services available in market.

Ownership
100%
Owned by the Saudi Tadawul Group
Paid up share capital
SAR 75 million
Number of shares
30 million
(SAR 10 each)
Location
Kingdom of Saudi Arabia, Riyadh

Vision

WAMID is Saudi Tadawul Group’s technology innovation subsidiary targeting Saudi and regional capital markets, providing innovative services focusing on data and AI, market infrastructure, and disruptive technologies.

Mission

To partner with capital market participants, and the wider business community, to build ambitious and dynamic solutions that leverage emerging technologies to address real-world challenges.

Key activities and services

  • Enhance the experience for investors in the Saudi Capital Market.
  • Create the technology infrastructure required for new products and services.
  • Build partnerships to drive innovation in Saudi Arabia and the region.

WAMID in 2023

24
Clients

listed companies, exchange members, high-frequency traders, network providers, and non-market participants

Target audience of WAMID services in the financial market:

Acquisition of

Case Study

DirectFN Acquisition: Accelerating Innovation and Impact

In line with WAMID’s strategic vision of expanding its digital and technological footprint in the financial market, it identified an opportunity to build scale, capabilities, and capacity through inorganic growth in 2023.

WAMID’s SAR 118.26 million (USD 31.54 million) majority acquisition of 51% of DirectFN, which was finalized in the first half of the year, was based on three key strategic drivers.

1

Market expansion and diversification

Market expansion and diversification

The acquisition opens up significant opportunities for market expansion for both companies. DirectFN’s global presence provides a platform for WAMID to extend its services globally and diversify its revenue streams.

2

Enabling advancement of the Saudi Capital market

Enabling advancement of the Saudi Capital market

DirectFN’s capabilities in emergent technologies – coupled with WAMID’s leadership in capital market infrastructure – position the company at the forefront of innovation in financial services supporting long-term growth and profitability.

3

Operational synergistic benefits

Operational synergistic benefits

DirectFN’s skilled workforce, which includes a significant number of software developers, enhances WAMID’s human capital. This infusion of talent will accelerate product development and innovation, making WAMID a more dynamic and competitive player in the market. In addition to talent, there are operational efficiencies that can be realized.

DirectFN at a Glance

DirectFN has a global footprint of over 530 professionals distributed across 13 countries. It serves over 100 clients in Saudi Arabia with a range of products that span both market data and investment applications.

+100
Clients globally
5
Offices
2
Development centers
530
Multinational professionals