The buzz around fintech has gained substantial attention from traditional financial institutions, startups, venture capitalists, and regulators. A wide gamut of fintech sub-sectors have emerged and have been adopted by key players of the financial sector globally. The Indian financial services sector has embarked upon its digital journey and is catching up fast with its global peers in terms of adoption.
Today, technology is disrupting practically every aspect of our daily lives on its way to discovering the most convenient, cheapest and efficient way of getting things done. The transformation can be clearly seen in the way we travel, shop, eat, entertain ourselves and take care of our health. Every sector is increasingly investing in technology.
The digitization of the enterprise is also opening up whole new markets, creating ecosystems that often extend across multiple sectors. It was with this vision that Jignesh Shah set up 63 moons technologies (formerly financial technologies (India) Ltd.), to provide technology solutions and domain expertise for digital transactions and financial markets across all asset classes.
With the launch of MCX in 2003, 63 moons pioneered in multi-asset class trading solutions and platforms across the globe. The company built robust and reliable technology products that enabled the faster spread of stocks market activity across the country within a short time. MCX was a financial product company that would not just restrict itself to trading systems for equity, but create products that would attack all high transaction density markets, whether commodity, equity, currency or bond.
It was established with the vision to create modern and state-of-the-art commodity exchange in India to help price risk management and efficient price discovery process. It was the first ever modern national commodity exchange set up in the post-reform India. When at its peak, MCX did an average daily volume of more than Rs. 100000 cr which was a record for any exchange in India.
