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

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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

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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

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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.

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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.

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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.

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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

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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

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63 moons tech: A Tech evangelist’s dream for India

Jignesh Shah, an entrepreneur turned innovator, established 10 exchange ventures across the country and abroad, within a short span of 10 years. Mr Shah, being an expert in the financial market infrastructure conquered new heights across the globe through his ventures. Shah’s most significant contribution to the markets is that he crushed the monopoly and democratised the markets to all.

A decade ago, the Indian financial markets passed through a fascinating phase as it witnessed tremendous growth opportunities. The markets were booming and increased use of modern technology in the financial industry filled the void of inaccessibility to financial services to all in the country.

Applauded by global think-tanks as a pioneer in developing the financial markets, Jignesh Shah ensured inclusive growth from the top to bottom of the pyramid. For example, the launch of MCX had all stakeholders including the farmers from different villages across India contributing to the development of the commodities market. Shah's vision was such that he launched India's largest warehouse and collateral management facility, the National Bulk Handling Corporation (NBHC), so that farmers could store their products and enjoy the price advantage of the supply and demand chain.

It was a dream come true to the ‘Innovator of Modern Financial Markets’ Jignesh Shah. His vision was cherished, nurtured and developed through 63 moons technologies limited (formerly, Financial Technologies (India) Limited). Earlier, the rural-urban divide as well as poor market infrastructure had created a wedge between India and other global markets. 

The use of fintech has transformed the way businesses are carried out in the global financial markets. The ability of the new technology to capture and process data in real time is changing the work process and is taking them to new heights.  How products and services are conceived in the new economy and the way consumers participate in this process have evolved considerably in the past few years Convenience, speed and transparency are the major factors that fintech firms are leveraging to capitalise on the Indian economy.

 63 moons through its next-generation technology ventures, innovations, platforms, and solutions placed India on par with global markets.

       
            Read more :- 63 moons - the fintech per excellence

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A social business entrepreneur: Jignesh Shah

63 moons technologies has always had an approach of 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.

The Group, led by Mr Jignesh Shah, focussed on creating newer types of jobs and vocations and building new market segments.  It pioneered growth in several market segments in India, including commodities, currencies, and energy and brought in efficiencies in practices and processes on a proactive basis.

63 moons opened a gateway for Indian businesses to explore opportunities in Asia, Africa and the Middle East. With a vision to make India a major international financial centre, it witnessed development of an extensive financial markets infrastructure with Indian enterprise and entrepreneurship.

The company takes pride for coming up with cost-effective products and solutions in real-time information and mobile payments so vital for financial markets, exclusive facilities for developing knowledge and skill-sets in financial markets operations, and for its extensive contribution to promote financial education, financial literacy and special programmes for the less privileged.

Read more:- 63 moons tech’s contributions to Exchange markets

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63 moons technologies: Creating value for nation-building

63 moons technologies, led by the visionary Jignesh Shah, has always had a strong connect with physical markets and real economy. This commodities exchange and ecosystem created a huge network of players in the real economy with opportunities of gainful business and sustainable incomes.

All of Mr Jignesh Shah’s exchanges and ecosystem ventures were job-oriented, revenue generating and employment intensive and also created newer types of jobs and vocations.

A national study showed creation of a million jobs by MCX alone with its extensive connect with the real economy players.

The 63 moons technologies Group made significant contribution to the tax revenue without seeking any subsidies or tax reliefs like the IT sector. The operations of the exchanges and ecosystem institutions generated a number of taxes, such as sales tax, income tax, VAT, STT and CTT.

Rural Focus

Gramin Suvidha Kendras were set up, in collaboration with India Post, to expand the reach and access of the commodity exchange benefit to farmers and other producers in the rural areas.

The 63 moons technologies Group’s international ventures put India on the world map of global finance. The Group’s exchange development strategies have become case studies for emerging markets.

Read more:- A STELLAR OFFERING

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63 moons – the fintech par excellence

The distinction that visionary Jignesh Shah brought to the Indian markets is to create new vistas in market development strategies, build capacity, innovate in product offering and adopt an inclusive approach.

Though every market segment that he nurtured and developed was new to Indian markets, he made it successful in terms of scale and significance. Be it the trading platform ODIN that revolutionized stock trading in India or commodities exchange that was the first to reach global league tables within a short time or energy exchange, one of the most innovative and needed intervention that benefited scores of SMEs, or the pursuit of international exchanges by any exchange group in India.

While growth was the prime objective, touching the core of the real economy and making the development process inclusive are all embedded in the business philosophy that made all his ventures stand out from the crowd. It is this passion that saw him growing from a start-up entrepreneur in the late 1990s to that of a major change agent and an institution builder.

63 moons technologies has been instrumental in creating and changing the landscape of various market segments and building global size and

significance. Most of the market infrastructure that was created was in

greenfield ventures with FTIL vision making each of these ventures into

markets of national importance.

63 moons designed and developed cost-effective and customised real-time

information and data analytics to meet the emerging requirements of

small businesses to big corporates. It developed electronic payment platforms and solutions that became a basis for the growth of E-Commerce and mobile payment systems. It also developed domain knowledge solutions across all the major market segments and conducted professional courses and programmes, certification examinations and skill tests.

It was the first exchange group in India in the private sector to sign up for Right to Information Act. 63 moons was also the first major software product company in India with proprietary products that were introduced in India for the first time.

63 moons enabled companies to procure power on competitive rates through open access to exchange trading, thereby reducing dependency on expensive,

single-source boards.

Read More:- WHEN TECH MEETS SOCIAL

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The impact of 63 moons technologies on Indian ecosystem

63 moons technologies, led by the visionary Jignesh Shah, has always had a strong connect with physical markets and real economy. This commodities exchange and ecosystem created a huge network of players in the real economy with opportunities of gainful business and sustainable incomes.

All of Mr Jignesh Shah’s exchanges and ecosystem ventures were job-oriented, revenue generating and employment intensive and also created newer types of jobs and vocations.

A national study showed creation of a million jobs by MCX alone with its extensive connect with the real economy players.

The 63 moons technologies Group made significant contribution to the tax revenue without seeking any subsidies or tax reliefs like the IT sector. The operations of the exchanges and ecosystem institutions generated a number of taxes, such as sales tax, income tax, VAT, STT and CTT.

Rural Focus

Gramin Suvidha Kendras were set up, in collaboration with India Post, to expand the reach and access of the commodity exchange benefit to farmers and other producers in the rural areas.

The 63 moons technologies Group’s international ventures put India on the world map of global finance. The Group’s exchange development strategies have become case studies for emerging markets.

Read More

63 moons tech created world class markets

Whenever an individual turns an entrepreneur, his risk-taking ability and unflinching faith in his own ideas, are the most talked about traits among young aspiring entrepreneurs as well as fellow businessmen in the industry. The distinction that visionary Jignesh Shah brought to the Indian markets is to create new vistas in market development strategies, build capacity, innovate in product offering and adopt an inclusive approach.

Though every market segment that he nurtured and developed was new to Indian markets, he made it successful in terms of scale and significance. Be it the trading platform ODIN that revolutionized stock trading in India or commodities exchange that was the first to reach global league tables within a short time or energy exchange, one of the most innovative and needed intervention that benefited scores of SMEs, or the pursuit of international exchanges by any exchange group in India.

While growth was the prime objective, touching the core of the real economy and making the development process inclusive are all embedded in the business philosophy that made all his ventures stand out from the crowd. It is this passion that saw him growing from a start-up entrepreneur in the late 1990s to that of a major change agent and an institution builder.

63 moons technologies has been instrumental in creating and changing the landscape of various market segments and building global size and significance. Most of the market infrastructure that was created was in greenfield ventures with FTIL vision making each of these ventures into markets of national importance.

63 moons  designed and developed cost-effective and customised real-time information and data analytics to meet the emerging requirements of small businesses to big corporates. It developed electronic payment platforms and solutions that became a basis for the growth of E-Commerce and mobile payment systems. It also developed domain knowledge solutions across all the major market segments and conducted professional courses and programmes, certification examinations and skill tests.

It was the first exchange group in India in the private sector to sign up for Right to Information Act. 63 moons was also the first major software product company in India with proprietary products that were introduced in India for the first time.

63 moons enabled companies to procure power on competitive rates through open access to exchange trading, thereby reducing dependency on expensive, single-source boards.

Read More