A visionary called Jignesh Shah

 

After successfully setting up 10 exchanges across 6 continents in a short-span of just 10 years Mr. Jignesh Shah aspires to venture into his second innings with 100- times bigger business potential in Start-up industry. He also feels that it can create a greater number of jobs and opportunities in the country. He feels the Start-up ecosystem if promoted can create up to 10 crore jobs over next decade.

Jignesh Shah said that this time he is even more confident as all court orders are absolving his companies of all the fabricated charges one after another as no agency could prove even a single wrongdoing on his part and or on the part of his companies.

Jignesh Shah, known as 'India's Exchange Man' for launching 10 exchanges across six continents including the top commodity bourse MCX, had to exit all those businesses in the aftermath of the Rs 5,600-crore payment crisis which he says was engineered by then finance minister P Chidambaram and his bureaucratic cronies since they wanted to protect their vested interests in a rival exchange.

By setting up a chain of exchanges in India and overseas, he wanted to make country the Manhattan of the East. But that was derailed by P. Chidambaram by conspiring against him. This resulted in the loss of a million jobs and the reversal of the trajectory of the economy towards world leader status. Now under Modi 2.0, Jignesh Shah hopes to be able to achieve this objective and help put India as the Silicon Valley of the East. Instead of body shopping, the new India would have an IP-based innovation drive, for which he would be a catalyst. 

In the current scenario, Jignesh Shah is hopeful and during his second innings he will be more active in the Start-up ecosystem and which will not be restricted to exchange and marketplace. "It will be a majority of IP-based field and we will be nurturing and inspiring entrepreneurs on varied scales which will be agriculture, genetics, robotics, to name a few. Rather than having a monolithic structure, it will be a diverse structure with an understanding of entrepreneurship". Jignesh Shah’s role will be of a coach vis a vis the entrepreneurs wanting to flourish in the start-up ecosystem. 

Read More

Make in India ticks right boxes in case of Jignesh Shah

Our Prime Minister Narendra Modi's ‘Make in India’ initiative, when it took off, had ticked all the right boxes. The policy promised to clear the red tape that shrouded any potential inbound investor, create world-class infrastructure required by modern manufacturing industry, and bring in policies that helped foster a climate of innovation and, importantly, protect the intellectual property that resulted from such innovation. So, we had a plan, it was workable and it was well-timed. Investors, should, logically, have been beating a path to India to set up mega manufacturing plants to supply the world. 

In some sectors, ‘Make in India’ appears to be doing exceedingly well. There are over 100-mobile phone manufacturers are operating in India including the market leader Samsung that upped one of its largest manufacturing set-ups from China and moved it to Noida in Uttar Pradesh. Apple and Xiaomi have also invested in Indian manufacturing capacities. All these shows the booming FDI investments flowing to India under the leadership of PM Narendra Modi.

PM Modi's vision and initiatives are being lapped up by the industry. Innovators like Jighesh Shah have fully supported Modi in these ventures. Jignesh Shah's contributions have had an immense impact on the growth and development of the financial sector. 

 

According to Shah, the idea is to make India a powerhouse of technology and related ecosystem. The idea was borne out of the untiring efforts of Jignesh Shah and his colleagues. Jignesh Shah, an engineer by education, an entrepreneur by aspiration, and an evangelist by interest for financial markets development, his numerous efforts and endeavours led to the advancement of the financial market infrastructure that India could take pride in, especially for the pathbreaking work that he has done in the financial market development and promotion of multi-asset class exchanges across multiple geographies.

Also Read: Jignesh Shah: Creator of ecosystem

Read More

Jignesh Shah: Creator of ecosystem

Jignesh Shah, often acknowledged as the ‘Innovator of Modern Financial Markets,’ is known to lead from the front. Shah has spoken in a series of media interviews about his future plans, and said that this time he wants to focus on the start-up ecosystem, since he believes that start-up ecosystem wouldn’t be restricted to any exchange or marketplace at all. He said his focus will be more on nurturing and inspiring entrepreneurs on varied scales including agriculture, genetics and robotics in which he would play the role of a mentor because he feels that it will be a diverse structure with an understanding of entrepreneurship 

Shah is known for his innovative zeal, entrepreneurial aggression, and a distinct vision which can scale up markets, be it start-ups or any other industry with the focus on creating huge employment and value for all stakeholders. His MCX had created 10 lakh jobs in the market ecosystem and Shah believes he can act as a catalyst to create 10 crore jobs in the next decade in the start-up ecosystem.

Mr. Shah explained what kind of 'ecosystem' he wishes to create and what areas those start-ups would work. He further added, It can be in agriculture, which attracts me the most today, it can be in genetics and it can be in robotics also. There won't be any constraints.

Also Read: India to become growth engine of world economy: PM Modi

Read More

India to become growth engine of world economy: PM Modi

 

Prime Minister Narendra Modi believes that India is passing through an era of “unprecedented social and economic changes” and would become the engine of world economic growth in the coming decades. India was the ideal investment destination in the world today because of the sweeping social and economic changes taking place in the country, he added.

The initiative ‘Make in India’ is a major new national programme of the Government of India designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build best-in-class manufacturing infrastructure in the country. The primary objective of this initiative is to attract investments from across the globe and strengthen India’s manufacturing sector.

“My message to investors is ‘Make in India’, but not just for Indians but for the whole world,” the PM said. He said schemes like Ayushman Bharat would not just provide health insurance coverage to a huge population but would also open up huge opportunities for investors in the sector.

These developments have lifted the spirits of seasoned entrepreneurs and innovators like fintech czar Jignesh Shah who dreamt and worked on the Make in India model in the mid-1990s. Jignesh Shah’s entrepreneurial journey has exhibited and inspired millions of young entrepreneurs of India provoking them to work for India’s growth through start up models.

Jignesh Shah’s foresight with deep-rooted interest in domestic strength had a strong connection with the real economy and generation of newer jobs and growth opportunities. 63 moons technologies limited is the only group with holistic understanding of financial markets ecosystem and an ability of innovate and establish internationally acclaimed financial institutions that are India-centric.

In a short span of time, his flagship company, 63 moons technologies limited (formerly known as ‘Financial Technologies India Limited) has made a mark and has been named as one of the most powerful and influential companies in biz-tech innovations. A global leader in providing next generation technology innovations, platform and solutions for digital markets and marketplaces, the entry of 63 moons into the exchange space brought competition that benefited the stakeholders enormously.

Also Read: INSPIRATIONAL TALE OF TRUTH AND JUSTICE THAT IS JIGNESH SHAH

Read More

63 moons technologies: Growing with a sense of responsibility

 

Apart from striving to take business to global heights, 63 moons technologies  believes in  going the extra mile to give a little something back to their employees, the community, and the world at large. The Group has been extremely socially responsible and actively involved in the social good of the people.  

It has made extensive contribution to promote financial education, financial literacy and cost special programmes for the less privileged. It launched a Post Graduate Certificate Program in Financial Markets jointly with Indira Gandhi National Open University.

ENHANCED FINANCIAL LITERACY

The Group extended the scope of competition in Indian financial markets, thereby contributing to efficiency. In an otherwise dormant and stagnant market, the innovations by the group promoted ventures expanded the depth and spread of the financial markets ecosystem leading to financial inclusion and last mile connectivity to the end users who otherwise were not a part of the main stream financial markets. 

The competition posed by the Group has led to market efficiency, rapid market growth, expansion of new markets, technology innovations, product innovations, rural and retail participation, and easy access to the markets. The group has played a definitive role in democratising the markets for the masses by bringing in transparency and efficiency. 

Independent assessment of the contribution of the exchange and ecosystemin creation of jobs, incomes and sustainable livelihoods.

There has constantly been a productive engagement through Corporate Social Responsibility.

Also Read : Creative disruptions by 63 moons technologies

Read More

Creative disruptions by 63 moons technologies

 

Success through innovation means continuous disruption. Disruptive companies tend to grow manifold, changing the trajectory of consumers’ viewpoint of the brand and the marketplace.  They are vibrant, daring and authentic, and often are challengers. 

63 moons technologies too is all about creative disruptions. In every field or market segment it created or entered into, it disturbed the status quo and ushered in innovation and new-found growth. Perhaps, it is this trait and characteristic of the Group that made the vested interests harm it and undermine its contribution and significance. 

Founded multi-asset-class trading

The first one to introduce multi-asset-class single trading platforms in India. A game changer in financial markets trading that expanded the scope of markets. 

Generated markets where none existed

MCX was one of the three modern national electronic exchanges to be given licence for trading in commodity derivatives, but it very soon established global leadership in trading of gold, silver and energy contracts. In 2012, eight out of the 20 top metals contracts traded worldwide on exchanges came from the MCX stable. IBS Forex introduced by the Group was the first electronic forex dealing platform in the country.

Exchanges of global size

IEX was one of the most successful exchange stories in the world, becoming the second largest in the world and revolutionising electricity trading in India. MCX-SX topped the league tables in trading of USD-INR contracts within a short time after its establishment. The turnover itself reached record levels. 

International exchanges promoted by the Group such as DGCX and SMX have emerged as leading exchange institutions in the Middle East and South East Asia. 

Jobs, incomes and sustainable livelihoods, all Made in India

Each of the ventures was a big contributor to society. MCX created a large number of jobs in rural areas and self-employment opportunities for youths and women. Gramin Suvidha Kendra was established by MCX to spread price discovery process across the country.

Trendsetter

MCX was the first exchange from India to be listed on the capital markets. Its listing in 2012 emerged as the biggest listing in Asia Pacific in mid-size companies. 63 moons was the first Group to conceive Hub and Spoke model with the establishment of Bourse Africa in collaboration with different markets in the Africa region. 

Cost-effectiveness and customization

Ticker Plant, the real-time information vending company of the Group provided unbundled, customized, modular, and cost-effective services instead of bundled and high-cost real-time information provided by global companies.      

Also Read :  Jignesh Shah applauds Modi’s vision on technology & innovation

Read More

INNOVATION AT ITS BEST

While the world today is increasingly turning towards e-commerce, it was more than a decade ago that 63 moons technologies India Limited, then known as Financial Technologies India Ltd, had taken the Exchange markets by storm with its various tech-innovations.

                                       

63moons introduced some revolutionary products in categories such as Exchange Solutions, Brokerage Solutions, Messaging Solutions, Connectivity Solutions, Consulting Solutions and Banking Risk Solutions.

All the years, the company has transformed the landscape of Indian financial markets in less than a decade and realized its ‘Make in India’ dream by taking Indian innovations to global standards in terms of operations, scale and size.

As a company, 63 moons have always emphasized on the importance of an ecosystem where all stakeholders are able to gain from the markets. A series of ecosystem ventures started by 63 moons to support the exchange system included real-time information (Ticker Plant), payment solutions (Atom) and knowledge management (FTKMC) among others.

It’s 63 moons technologies’ the stellar contribution that has positioned India among the top in the world of financial markets. Exchanges and ecosystem ventures of the 63 moons group have been revenue generating and employment-intensive.

READ ALSO:-  MANAGING RISK THE RIGHT WAY

Read More

MANAGING RISK THE RIGHT WAY

63 moons technologies are among the global leaders that offer technology IP (intellectual property) and domain expertise to create and trade on next-generation financial markets, which are transparent and efficient.

The company’s focus has always been on providing technology solutions, building user-friendly platforms and creating digital marketplaces in India and abroad, thereby positioning India in the international marketplaces.

The risk solution division of 63 moons provides highly secure software applications which are categorically designed as a risk management system to the banking financial services and insurance (BFSI) sector in the area of information management.

Risk solutions product suites comprise:

1)      Data collector: A web-based application software that helps regulators with efficient collection of information from downstream regulated entities. This software enables users to make informed and timely decisions.

2)     A web-based risk management application comprises modules such as ADF, Market Risk, Operational Risk, ALM and Credit Risk.

 READ ALSO:-  The fintech that refined Indian financial markets

Read More

High-tech institutions of 63 moons

63 moons technologies set up high-tech exchange institutions in leading international financial centers, making India the first exchange industry MNC, in United Arab Emirates, Mauritius, Singapore, Bahrain and Botswana.

 63 moons technologies has been the only private sector company in joint venture with the Government of UAE at the time of setting up of the Dubai Gold and Commodities Exchange, which now enjoys premier position as a leading commodities exchange in the Gulf.

The Group operated exchanges in 10 regulatory regimes across the regions of Asia, Africa and the Middle East.

Extensive ecosystem of institutions to support the financial markets in the form of separate subsidiaries for warehouse and collateral management, real-time information, mobile payment systems, which are all vital for the sustained growth of domestic financial markets.

Read More

Empowering Indian financial markets: 63 moons tech

63 moons technologies developed a strong connect with physical markets and real economy. It brought about 360-degree financial market development covering equities, bonds, currencies and commodities with extensive ecosystem to provide support of information, payment and settlement solutions, knowledge management and financial literacy and education.

63 moons technologies set up high-tech exchange institutions in leading international financial centers, making India the first exchange industry MNC. It created extensive ecosystem of institutions to support the financial markets in the form of separate subsidiaries for warehouse and collateral management, real-time information, mobile payment systems, which are all vital for the sustained growth of domestic financial markets.

Some of the technology products like ODIN have created social benefits and have successfully contributed towards the nation are: Employment opportunities across the country, increased scope for self-employment opportunities, financial access to local communities, increased participation of local talent and expertise. Growth of local entrepreneurship and most importantly benefits flowing into local community.

63 moons revolutionized the way to interact with your clients by introducing ODIN Bot (Build operate transfer). ODIN Bot is an automated chat Bot which can respond to chat based queries which makes it more convenient for the concerned parties. It provides information like news, portfolio holdings, market price, ledger balance, last transactions and it also transacts into multiple systems to setup alerts, notifications, purchase, redeem, etc.

The application is cloud based and it uses technologies like artificial intelligence, natural language processing and machine learning to deliver customer delight.

One of the best feature that it offers is, it saves costs by eliminating dependence on customer care executives as it offers a feature to directly interact with clients through chat based queries.

The second-best feature of this product is its consistency. Chat bot can work consistently and continuously without the need of a break.

63 moons always focused on introducing such efficient and convenient products which definitely helps in empowering the Indian financial market.

Also, in a very short span of time, 63 moons through its inventive planning and innovative product range, emerged as a leading financial market infrastructure group in India. All the exchanges and ecosystem ventures developed by the 63 moons group are India-centric with all operations conducted by Indians in India with the benefits flowing to India. Exchanges and ecosystem ventures of the 63 moons group have been revenue generating and employment intensive.

Read More

63 moons tech created a wave in exchange markets

A close look at the indigenous fintech market and 63 moons technologies find a special place. The company has played a crucial role in defining the Indian financial sector to its current state and position. This fact can be substantiated by the gamut of products the company has rolled out in no time, provided a fillip to innovation in markets and its growth.

One of the finest products that 63 moons has launched in the Indian financial sector is ODIN, a platform that is used by brokers as a trading terminal. Needless to say, the company’s flagship programme has revolutionised the way brokerage services are offered and trading takes place in the Indian markets. So much so that in a short span of time post its launch, ODIN has been able to corner more than 80% of exchange solutions market share and is growing manifold.   

Abiding by company’s efforts to innovate, coupled with unmatched success, ODIN Bot (Build operate transfer) was introduced to the existing platform. The invention was added to disrupt the way people are transacting in futures. Equipped with an automated chat bot that responds to chat-based queries, the platform is even more user-friendly.

 The chat bot can work consistently and continuously without break. The clients can use chat language with short words and unstructured sentences, as if interacting with a human agent. All in all, the feature eliminates users’ dependency on customer care executives, thereby saving time and cost.

Adding on to the features, the cloud-based app uses AI, natural language processing and machine learning to provide a plethora of information such as market news, portfolio holdings, information on transactions to name a few.

What’s more, the platform provides consistency with no down time. It is available across platforms such as Twitter, FB Messenger, Skype or Telegram and even on client’s own business application. The system is self-learning and becomes more enriched over time with the increase in the number of queries. The platform can integrate with multiple sources at the back end via APIs, to provide any sort of business relevant information.

Needless to say, the platform with its new features is creating a massive social impact that has resulted in a massive financial inclusion in the Indian scenario.

Read More

A true ‘Make In India’ story that generated a millions jobs

63 moons technologies limited is a true ‘Make In India’ story that generated a millions jobs, incomes and crores of sustainable livelihoods through tech-innovative entrepreneurship. The company, formerly known as FTIL, brought a change in the brokerage technology solutions by introducing the cutting-edge ‘ODIN’ solution that revolutionized the Indian financial markets. Brokerage Technology Solutions is the pioneer in providing end-to-end solutions for Brokers in Indian as well as in International Markets. Brokerage Technology Solutions suite comprises Front Office, Middle Office, Back Office Clearing, Settlement, Accounting and Messaging Solutions. Exchanges and ecosystem ventures of the 63 moons group have been revenue generating and employment intensive.

63 moons has always been very keen on the changing trends in the financial markets and has always made sure to keep a track and successful implementation of the same to succeed in the long run. ODIN is result of the same thought process and is successful even today and enjoys a great market share.

When the nation just started getting into online financial trading systems, 63 moons pioneered the finest trading system ODIN for the country. This was one of the great innovation so far and this innovation was a cost-effective brokerage technology solution that enabled trading of securities in India. ODIN has the distinction of being the No 1 trading software with over 80% of market share.

ODIN has also opened up various APIs to support real-time integration with 3rd party products for Order Management System / Back-Office / Middle-Office / News & Analytics / Charting Tools / Client Risk Management / Portfolio Management System, etc. and is now looking at Open Architecture-based design to provide modular expandability with similar designs.

63 moons is credited in terms of bringing the much needed transformation in the exchange markets. 63 moons main vision is innovation, which helps the Indian financial market in many ways.

63 moons have always found solutions that not only empowered market systems, but which also contributed to product innovation, skill development, job creation, and generation of sustainable incomes for one and all, especially small investors and stakeholders in semi-urban and rural areas.

 The vision materialized into world-class institutions that were built by competitive leadership and an effective management team. 63 moons changed the dynamics of the Indian financial markets by enabling trade routes within India through trading technology for financial exchanges. Some of the technology benefits that 63 moons offers are: developed cost-effective technologies, low-cost real-time information dissemination, and innovative payment solutions.

To read more :- A Social busnicess enterpreneur

Read More

Empowering Indian financial markets: 63 moons tech

63 moons technologies developed a strong connect with physical markets and real economy. It brought about 360-degree financial market development covering equities, bonds, currencies and commodities with extensive ecosystem to provide support of information, payment and settlement solutions, knowledge management and financial literacy and education.

63 moons technologies set up high-tech exchange institutions in leading international financial centers, making India the first exchange industry MNC. It created extensive ecosystem of institutions to support the financial markets in the form of separate subsidiaries for warehouse and collateral management, real-time information, mobile payment systems, which are all vital for the sustained growth of domestic financial markets.

Some of the technology products like ODIN have created social benefits and have successfully contributed towards the nation are: Employment opportunities across the country, increased scope for self-employment opportunities, financial access to local communities, increased participation of local talent and expertise. Growth of local entrepreneurship and most importantly benefits flowing into local community.

63 moons revolutionized the way to interact with your clients by introducing ODIN Bot (Build operate transfer). ODIN Bot is an automated chat Bot which can respond to chat based queries which makes it more convenient for the concerned parties. It provides information like news, portfolio holdings, market price, ledger balance, last transactions and it also transacts into multiple systems to setup alerts, notifications, purchase, redeem, etc.

The application is cloud based and it uses technologies like artificial intelligence, natural language processing and machine learning to deliver customer delight.

One of the best feature that it offers is, it saves costs by eliminating dependence on customer care executives as it offers a feature to directly interact with clients through chat based queries.

The second-best feature of this product is its consistency. Chat bot can work consistently and continuously without the need of a break.

63 moons always focused on introducing such efficient and convenient products which definitely helps in empowering the Indian financial market.

Also, in a very short span of time, 63 moons through its inventive planning and innovative product range, emerged as a leading financial market infrastructure group in India. All the exchanges and ecosystem ventures developed by the 63 moons group are India-centric with all operations conducted by Indians in India with the benefits flowing to India. Exchanges and ecosystem ventures of the 63 moons group have been revenue generating and employment intensive.

To Read more :- Steller Contributions of-63 moons tech

Read More