63 moons contributions to fintech

63 moons technologies Ltd. empowered multi-asset-class markets in India by focusing on Intellectual Property Rights (IPR) creation in the financial markets and trading industry by harvesting intellectual capital. To pursue growth of people-centric and inclusive markets.

•         It pioneered multi-asset-class trading solutions and trading platforms in India

•         Its robust and reliable technology enabled faster spread of stock market activity across the country within a short time

•         Designed and developed ODIN, the trading solution, which emerged as the largest with a market share of over 80 percent against stiff competition from national and international companies such as TCS, CMS, Reuters, and NSEIT

•         There are nearly one million trading terminals across the country powered by ODIN

•         In spite of NSE offering trading platform solutions freely to its members, ODIN still continues to be a leader, speaking of the trust and confidence reposed by the customers

Its the first-ever group from India to be invited by governments in international      financial centers such as Dubai, Mauritius, Bahrain, Botswana and Singapore for setting up multi-asset-class market exchanges

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63 moons’s Creative Disruption

The forte of Financial Technologies is a creative disruption. 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.

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.

MCX was one of the three modern national electronic exchange to be given license 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

IEX was one of the most successful exchange stories in the world, becoming the second largest in the world and revolutionizing 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. 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. GraminSuvidha Kendra was established by MCX to spread price discovery process across the country.

MCX was the first exchange from India to be listed on the capital markets. It's listing in 2012 emerged as the biggest listing in the Asia Pacific in mid-size companies. FTIL 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.

TickerPlant, 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.

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TickerPlant - A global content provider for financial services

TickerPlant Limited is one of the leading global content providers in the financial information services industry that integrates and disseminates ultra-low latency data feeds, news and information to support investment decisions of professionals and investors.

The real-time market data & information is distributed in user-friendly and flexible formats on TickerPlant's own state of the art platforms as well as on third-party sites, including mobile phones, at competitive prices. TickerPlant is a wholly owned subsidiary of Financial Technologies Ltd. 

TickerPlant adoption of open technology standards allows it to integrate content with rich features and analytical tools whereby enhancing customers experience and use of the data and information. The delivery and display of data and tools can be tailor-made to meet specific needs of customers.

Resilient data management system and dedicated teams of information and technology specialists ensure the highest standards of data security, completeness, quality and authentication. TickerPlant vision is to emerge as a leader in the financial content and solution space with comprehensive datasets which are complete, customizable, in-depth and authentic.

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Some great milestones achieved by 63 moons

63 moons technologies limited (formerly known as FTIL Group) was among the first companies in the mid-90s to make financial market trading products from India and its ODIN suite of products has a second largest market share in Trading Terminal segment globally.

Built with painstaking attention by the promoter company FTIL to ensure quality and best-in-class infrastructure, the companies attracted industry leaders from across the world and good valuation during the acquisition process. MCX, set-up by FTIL, is the second largest commodities exchange in the world in a short span of 10 years and is also recognized for multiple innovations in the world.

IEX, set-up by FTIL, went on to become India’s No. 1 energy exchange and among the leading exchanges globally. NBHC, set-up by FTIL, also ranked India’s No.1 private sector warehouse management Company and among the top leaders in the segment in Asia. SMX and DGCX, international exchange ventures set-up by FTIL in Singapore and Dubai, are the leading exchanges in Asia and the Middle East.

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63 moons technologies: A key contributor to India’s growth

63 moons technologies, led by innovator founder, Mr. Jignesh Shah, established strong connect with physical markets and the real economy. Commodities exchange and its ecosystem have created a huge network of players in the real economy with opportunities for gainful business and sustainable incomes.

Exchanges and ecosystem ventures were job-oriented,

revenue-generating, employment intensive and creating newer types of

jobs and vocations. A national study showed creation of a million jobs by

MCX alone with its extensive connect with real economy players.

The 63 moons Group has significantly contributed 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.

Gramin Suvidha Kendra, set up in collaboration with India Post to expand

the reach and access to the commodity exchange extended benefits to

farmers and other producers in the rural areas.

Created capacity in organized markets, making much-needed

transformation of the real economy. All the exchanges and ecosystem

institutions of the Group were in the organized sector.

63 moons have extended the scope for competition in Indian financial markets, thereby contributing to efficiency.

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All about an innovator and global institution creator

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.

India is on the verge of financial revolution. The total investment that the fintech industry has witnessed it has boomed in 2015-17. There is still considerable momentum in the industry and we will continue to see this trend continuing hereafter

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63 moons’ ground-breaking innovations in Fintech space

FinTech is a fast-moving trend; it focuses on emergent technological innovation in the financial sector. Historically applied mostly at investment banks and hedge funds, FinTech is now exploding with new ideas and startups in digital payment systems, cloud-based techniques for behavioral analytics, risk management, etc.

Somehow, the visionary Jignesh Shah could discern this as an opportunity in an uncharted area and used his technology innovation to set up a first technology-driven company with a focus on financial and exchange markets (FTIL).

It’s the vision of the innovator Jignesh Shah that elevated 63 Moons Technologies Limited (formerly known as FTIL Group) into the inventor of electronic, organized, and regulated financial markets for new asset and investor classes. Such markets were economically unviable to be served by traditional markets at that time.

OODIN, MCX, NBHC, DGCX, MCX SX, IEX, atom, Ticker…. are a few ventures pioneered by Shah which became global leaders in financial and technological innovations and contributed to the eco-system and the organized markets.

One of the main contributions of 63 Moons Technologies Limited was to channelize the unorganized markets and bring about transparency & cost-effectiveness in markets, thus enabling substantial revenue generation which otherwise was getting lost in the organized markets.

• All his contributions have had a tremendous impact on the business ecosystem.
• All the ventures are extremely job-oriented, revenue generating and employment-intensive.
• Commodities exchange and ecosystem have created a huge network of multiple players in the economy with plenty of opportunities for profitable business and sustainable incomes.
• According to a study by Tata Institute of Social Sciences (TISS), MCX alone generated more than a million jobs in the commodities ecosystem.
• The Grahmin Suvidha Kendra was set up with a focus on rural areas, to expand the reach and access of the commodity exchange benefits to farmers and other producers in the rural areas.
• The international exchange Institutions put India on the world map of global finance.

63 Moons Technologies Limited is the first Indian organization that has been invited by governments in international financial centers such as Dubai, Mauritius, Bahrain, Africa and Singapore for setting up multi-asset class market exchanges.

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