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

Read More

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.

Read More

Jignesh Shah- a technology evangelist

Jignesh Shah, a go-getter, always knew what he wanted unlike many who lead a good but aimless life. He knew he wanted to do engineering and he did. He knew he wanted to set up his own business and he did. He knew he wanted to do something game-changing in the Indian fintech sector and he did. Jignesh Shah was a visionary who thought ahead of his time. With the dream to make India the finest commodity trading hub, he set out on a road less traveled. His tremendous qualities are his ability to be customer and quality focus, down to the minutest of detail.

He could make anything a commercial success. He started off as an aspiring entrepreneur and became a business magnate in the Indian ecosystem. Shah’s spectacular rise seems nothing less than a Bollywood movie script. A few names to his credit are Multi Commodity Exchange (MCX) to Dubai Gold & Commodities Exchange (DGCX), Bourse Africa, Indian Energy Exchange (IEX), to Bahrain Financial Exchange (BFX), and Singapore Mercantile Exchange (SMX). The list is never-ending.

Read More

Phenomenal Achievements of 63 moons Technologies

Jignesh Shah is a pioneer of FinTech innovations. His company is credited with introducing end-to-end solutions that support high-density transactions in the Indian financial markets. He set up FTIL in 1995 to provide technology solutions and domain expertise for digital transactions and financial markets across all asset classes. FTIL's conceptualization led to a brilliant technological innovation in Intellectual Property (IP) and helped propel trade on next-generation financial markets including equities, commodities, electricity, currencies, and bonds, among others through 63 Moons Technologies.

Jignesh Shah launched the Multi Commodity Exchange (MCX), India's premier commodity derivatives exchange that became the second largest commodities exchange in the world in a short span of 10 years.

At MCX, Shah used ODIN, a financial market trading product that he had conceptualized and created and Odin went on to capture the second largest market share in Trading Terminal segment globally. His Indian Energy Exchange (IEX) was India's No.1 electricity exchange and a leader among world energy exchanges. Shah created similar wonders when the group’s National Bulk Handling Corporation (NBHC) became India's No.1 private sector warehouse management company as well as a leader in Asia.

The SMX, DGCX, BFX and Bourse Africa, the international exchange ventures set up by the group in Singapore, Dubai, Bahrain and Africa respectively, became leading exchanges in Asia, Africa, and the Middle East.

Read More

63 moons – Cutting- edge technology solutions

The exchanges and ventures created by Jignesh Shah of 63 moons technologies Group were highly competitive in global markets and were leaders in many of their segments thus bringing huge benefits to stakeholders. Not seen in many countries, Jignesh Shah created a vast expanse of ecosystem ventures to support the exchanges that enabled them to pursue growth and expansion within a short time.

Atom Technologies –

A pioneering idea that FTIL introduced to develop mobile payment solutions well before any of the digital payments began to take shape.

National Bulk Handling Corp-

A nationwide system of warehousing and collateral management with warehouse receipt financing and participation of banks.

Ticker Plant -

Customized real-time solutions to trading and business community with cost-effective data analytics.

Financial Technologies Knowledge Management Co.  -

A dedicated knowledge management facility to develop and disseminate domain knowledge and related expertise across various asset classes traded. Financial education and literacy and skill-set enhancement were one of the main thrust areas of FTIL.

All these massive institutions created by Jignesh Shah are of global standards in operations, scale, and significance and encouraged public financial institutions to be stakeholders.

Read More

Mr. Jignesh Shah, a visionary ahead of his time

Mr. Jignesh Shah began with creating a digital platform for trading purposes, known as 63 moons technologies and thereafter he kept on setting up new entities in India as well as abroad, giving competition to the likes. The list of his achievements and recognition is never-ending. FTIL, MCX, IEX, DGX names which could give shudders to National STOCK Exchange.

The 63 moons group has 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 market's ecosystem leading to financial inclusion and last mile connectivity to the end users who otherwise were not a part of the mainstream 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 democratizing the markets for the masses by bringing in transparency and efficiency.

Read More

The Dawn Of Invention- 63 Moons Technologies

Jignesh Shah, the promoter of 63 moons technologies had a vision of changing the scenario of India’s finance sector. His brief stint with the Bombay Stock Exchange gave this Mechanical Engineer an impetus to develop a futuristic model that revolutionized the stock market with technology.

The result was for all to see. Shah’s 63 moons not only initiated online trading in India, but it also changed the way we perceive stock trading. It was 63 moons that enabled the Indian stock market to spread far and wide and reach out to millions of investors. That’s not all. 63 moons has given a lot of tech edge to its investors. Tailor-made affordable technologies dispense, real-time information that keeps the investors updated every single minute. 63 moons also ensure the payment processes are hassle-free.

A report prepared by MCX, in association with Tata Institute of Social Sciences have pointed that 63 moons has made a positive social impact too. 63 moons has created job opportunities, opened up financial access to local communities, and thus contributed to the growth of local entrepreneurship. It’s the passion of the innovator Jignesh Shah that has been driving Indian financial market to global level. Thanks to his efforts, India gained an edge in the global exchange markets.

Read More