NEW YORK – May 18, 2023 – Pico, a leading global provider of mission-critical technology services, software, data and analytics for the financial markets community, is pleased to announce the continued global expansion of services into the Middle East, launching managed colocation services at the Tadawul Advanced Solutions Company (WAMID) ("Saudi Exchange Company") data center in Riyadh.
The Saudi Exchange Company expansion is a strategic move for Pico as the Middle East emerges as a significant financial hub with growing demand for advanced electronic trading infrastructure and connectivity. Pico's ultra-low latency capabilities have been recognized across trading locations globally and will support clients to access this growing liquid venue and market ecosystem.
Pico's global colocation infrastructure is connected to PicoNet™, a resilient proprietary global network providing virtually seamless connectivity between the Middle East and Europe and to APAC and the Americas. Clients can use PicoNet to manage colocation environments with potential options to consume raw real-time and comprehensive, resilient tick data solutions. With a local presence now live in Riyadh, Pico can accelerate time to market for clients interested in technology, connectivity and other related services.
"We are excited to enter the Middle East market with our cutting-edge technology and services at Saudi Exchange Company," said Marc Hineman, Chief Operating Officer, Pico. "Our expansion aligns with our commitment to deliver the best possible trading infrastructure and connectivity for our clients to serve their need for globally comprehensive coverage of financial markets. We are confident that our access to local expertise and support will help them navigate markets in the region."
The addition of Saudi Exchange Company to Pico's global footprint is a testament to the company's continuing growth and dedication to serving the financial markets community across all regions. With access to local on-site engineering and data center management expertise, Pico now offers comprehensive connectivity and venue presence in many locations across Asia Pacific, Europe, the Americas, and the Middle East, solidifying its position as a leading global connectivity provider in the financial industry.
Pico is a leading provider of technology services for the financial markets community. Pico provides a best-in-class portfolio of innovative, transparent, low-latency markets solutions coupled with an agile and expert service delivery model. Instant access to financial markets is provided via PicoNet™, a globally comprehensive network platform instrumented natively with Corvil analytics and telemetry. Clients choose Pico when they want the freedom to move fast and create an operational edge in the fast-paced world of financial markets.
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