Expanding a newly established business is equally challenging, especially when an individual takes the charge of everything, single-handedly strengthening the base and managing the establishment. Jignesh Shah is one of those mavericks, who went an extra mile to make sure that his innovative products ease the trading process and act as an inspirational driver for interested aspirants across the globe.
Jignesh Shah established Financial Technologies (India) Limited in his home-turf, Mumbai, 2 decades back. In a short span of time, he went on to explore other continents apart from his native one. Other than the expansions, acquisitions were another means of holding major interests in other companies across the industry, by FTIL. Some of these companies are under development and others are functioning in India and overseas.
These exchanges of FTIL are operational in numerous continents including Africa, Asia and the Middle East. These exchanges deal in various commodities, currencies, energy, forex and precious metals industries. Following is the list of exchanges of FTIL in India and abroad:
IBS Forex: Almost half a decade old, this electronic trading platform was brought to life, in order to facilitate India’s inter bank market in spot and forward forex trading.
IEE: FTIL joined hands with PTC India Financial Services Ltd, which is an energy-investment group based in India, to lay the foundation of Indian Energy Exchange (IEE), which started trading pan-Indian electricity contracts from June 2008.
MCX: Multi Commodity Exchange is India’s largest exchange for trading commodity derivatives. MCX was recently ranked in ‘Top 25 Derivatives Exchanges’ across the globe, by Futures Industry Association. NYSE Euronext and the National Stock Exchange of India (NSE) are amongst its shareholders.
MCX-SX: MCX was spun-off into MCX-SX, which is trading currency derivatives on a greater scale, irrespective of being a stock-exchange.
NSEL: A spot-market commodity exchange, based in Mumbai, National Spot Exchange Limited is billed as the first exchange to cover the pan-India market. NSEL is a joint initiative of FTIL and National Agricultural Cooperative Marketing Federation of India, Ltd. (NAFED).
BA: Bourse Africa is a Botswana-based multi-asset exchange that trades commodities, currencies, bonds and diamonds, with the aim to serve the pan-African market.
BFX: Bahrain Financial Exchange is expected to initiate its trading functioning any time sooner, where the exchange will deal in trading of currencies, derivatives, structured products and Islamic finance (sukuk) contracts.
Bourse Africa Limited: Located in beautiful island of Mauritius, east of Madagascar, Bourse Africa Limited exchange aims to trade in pan-African and international commodity with currency derivatives contracts. It is the sole venture exchange of Financial Technologies (India) Limited.
DGCX: established in 2005, Dubai Gold and Commodities Exchange is the first commodity derivatives exchange in the Middle East. It is a collaborative effort between FTIL and free trade zone of Dubai government, Dubai Multi Commodities Centre (DMCC).
SMX: Singapore Mercantile Exchange is a multi-product exchange, with the mission to enlist global commodity derivatives.