It’s 63 moons technologies’ stellar contribution that positioned India among the top in the world in financial markets infrastructure business.
Quite a few developed countries have successfully established high-tech financial hubs, which over time have become international financial services centres. These centres create a business environment to promote talent and increase capital flow. As they develop they create significant economic value for their domestic economies, e.g. London and New York account for 10% of the GDP and about 5% of jobs. Emerging financial services centres like Singapore and Hong Kong have achieved similar levels of concentration of economic activity over short periods of time. In a very short span of time, 63 moons (formerly FTIL), 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. A national study by TISS showed that MCX alone created a million jobs with its extensive connect with the real economy players. For the first time in India, MCX provided an opportunity to the Indian corporate houses to hedge their commodity price risks on an Indian bourse. The marginal exporters/importers, who did not have access to banks, could easily participate on MCX-SX to hedge their currency risks. As India experiences continued economic growth, the financial sector could generate about 10-11 million jobs and a GDP contribution of US$ 350 to 400 billion by 2020. With a sustained growth and rapid development in technology and infrastructure, an increasing share of financial services would get centralized. McKinsey & Company’s market assessment report estimates potential of about 6 million centralized jobs across multiple service roles.
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Fintech is rapidly changing how financial information is disseminated, administered, and analysed. Leaders who are able to effectively leverage Fintech will disrupt the industry and earn competitive advantage.
While the world is today 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. 63 moons is involved in the development of technologies and innovative intellectual property in new-generation businesses such as medicine/life sciences, space, sports, education, digital media, robotics, e-commerce, financial markets and agri tech. The long list of its products and services include- Exchange Solutions, Brokerage Solutions, Messaging Solutions, Connectivity Solutions, Consulting Solutions and Banking Risk Solutions. All these revolutionary solutions have been envisioned by FTIL founder and ace innovator, Jignesh Shah. Jignesh Shah, a rare genius who transformed the landscape of Indian Financial Markets in less than a decade, realised his dream of ‘Make in India’ by taking Indian innovations to global standards in terms of operations, scale and size. It was Jignesh Shah who pioneered multi-asset-class trading platforms in India that made stock market industry dependent on technology and trading solutions. It was Jignesh Shah who thought about the importance of an ecosystem so vital for all the stakeholders to gain from the markets. A series of ecosystem ventures were started by him to support the exchange system that included; risk and collateral management (National Bulk Handling Corporation), real-time information (Ticker Plant), payment solutions (Atom), knowledge management (FTKMC), research (Takshashila), etc. Jignesh Shah has always believed in empowering India with the presence of robust markets systems and simultaneously aimed at creating more skills and jobs. All his ventures created more than a million job opportunities and generated massive revenue for the nation. 63 moons is one place that lets you focus on your business and takes charge of building and maintaining your market place solution. With the core mission to enable digital ecology and having a vast network of resources, 63 moons helps you come up with your ideas, go to market and enable expansion. Read More - Fintech innovations that were way ahead of its times |
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September 2020
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