63 moons technologies limited is a well-run company, with close to 60,000 public shareholders, an accomplished Board and a dynamic management, that has steered this company from being a start-up in early 2000s to one of the most respected and widely regarded technology solutions company that pioneered multi-asset-class trading segments, which stood the tests of competition from global majors such as IBM. Cost-effective and efficient technology solutions enabled Indian financial markets to expand the reach and access nationwide, benefiting millions, including financial institutions, intermediaries, investors and other stakeholders.
Since its inception, 63 moons has not received any complaint from exchanges or intermediaries, which are its biggest clients and customers. Even competing institutions used to buy technology solutions from 63 moons, which is a testimony to its integrity and business ethics. There was never any regulatory action of any sort, although the exchange and ecosystem ventures of the Group were operating in several regulatory jurisdictions in India and abroad.
Despite all these, 63 moons were declared ‘Not Fit & Proper’ and forced to exit from its exchange ventures after the NSEL crisis. This is a huge loss for the nation as one of the finest financial institutions has been savaged and crippled by certain vested interests.
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