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63 Moons Technologies

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63 moons technologies
FormerlyFinancial Technologies (India) Limited
Company typePublic company
BSE: 526881
NSE: 63MOONS
IndustryComputer services on finance/banking[1]
Founded12 April 1988[2]
HeadquartersMumbai, India
Key people
S Rajendran, Managing Director and CEO
Venkat Chary, Chairman[3]
ProductsSoftware
Revenue₹4.926 billion (US$59 million)[4] (March 2017)
Number of employees
857[5] (December 2016)
Websitewww.63moons.com

63 Moons Technologies Limited (stylised as 63 moons technologies), formerly Financial Technologies (India) Limited until 2016,[6][7][8] is an Indian company which provides technology solutions to financial platforms and supports the creation of digital marketplaces.

History

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It is headquartered in Mumbai, India and was founded in 1988 by Jignesh Shah.[9][10] The company offers technology-based intellectual property to create and trade on financial markets.[11] It had its first IPO in 1995. The company introduced its first commodity derivatives trading platform, the Multi Commodity Exchange (MCX) in 2003.[12] FTIL has divested of its domestic and international ventures.[13]

The company’s name was officially changed to 63 Moons Technologies Limited on 27 May 2016, after receiving approval from the Registrar of Companies following a one-year process.[14][7] However, the Securities and Exchange Board of India (Sebi) fined the company ₹1 lakh (equivalent to ₹1.4 lakh or US$1,700 in 2023) for failing to obtain prior approval from the NSE and BSE before changing its name.[15]

Operations

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Exchanges

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The company launched many domestic and international ventures. It owned several subsidiaries that included National Bulk Handling Corporation (NHBC),[16] Multi Commodity Exchange (MCX), Dubai Gold & Commodities Exchange (DGCX),[17] Indian Energy Exchange (IEX),[18] MCX Stock Exchange (MCX-SX),[19] Singapore Mercantile Exchange (SMX)[20] and Bourse Africa.[21] In October, 2010, Financial Technologies (India) launched Global Board Of Trade (GBOT), an international multi–asset exchange in Mauritius.[22] In February 2011, Financial Technologies launched Bahrain Financial Exchange (BFX), the first multi–asset exchange in the Middle East and North Africa.[23]

Softwares

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  • Atom Technologies is a digital payment service providers, offering payment collection facilities over Internet, IVR, Mobile App and Point of sale using credit, debit, net banking, cash cards and IMPS.[24] FTIL divested a controlling stake to NTT Data Corporation in late 2018.[25]
  • Distributed Order Matching Engines (DOME) is an order matching system that supports all stages of the trading lifecycle. It connects key components like risk management, market data management, and order matching. It facilitates operations for traders, administrators, and external systems using various protocols, and allowing them to trade across multiple platforms.[citation needed]
  • MATCH; it is an enterprise application integration tool designed to streamline middle and back office operations while supporting multi-asset, multi-exchange, and multi-branch activities, along with accounting functions.[citation needed]
  • ODIN, the flagship product of the company, was used for trading in securities and commodities.[17] As of 2020, ODIN accounted for around 70% of the retail broking market share in trading software.[26]
  • STP-Gate, launched in 2017, is a straight-through processing system designed for the Indian financial markets, facilitating brokers and fund houses in the seamless post-trade settlement of obligations. In August 2024, 63 Moons sold this system to Synapsewave Innovations.[27]
  • TickerPlant is an analytics platform with real-time streaming of market information on domestic and international exchanges as well as OTS markets. In the areas of commodities, forex and equity, TickerPlant provides IT-enabled services.[28] The global financial content provider has also launched its own cryptocurrency super application called CryptoWire.[29][30]

Subsidiaries

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Awards

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See also

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References

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  1. ^ "63 Moons Technologies Ltd. Stock Price, Share Price, Live BSE/NSE, 63 Moons Technologies Ltd. Bids Offers. Buy/Sell 63 Moons Technologies Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes". www.moneycontrol.com.
  2. ^ "63 Moons Technologies - Company Info - History". The Economic Times. Retrieved 4 January 2022.
  3. ^ Board of Directors. Archived 16 August 2012 at the Wayback Machine
  4. ^ "BSE Plus". Bseindia.com. Retrieved 25 September 2010.
  5. ^ "63 moons | Jignesh Shah's foremost contribution to the Financial Sector". www.63moons.com.
  6. ^ "Financial Technologies renames itself as 63 Moons Technologies". The Financial Express. 19 August 2015. Retrieved 4 January 2022.
  7. ^ a b Rukhaiyar, Ashish (19 August 2015). "Financial Technologies changes name to 63 Moons". mint. Retrieved 4 January 2022.
  8. ^ "ROC approves Financial Technologies name change to 63 Moons Technologies". The Economic Times. 27 May 2016. Retrieved 4 January 2022.
  9. ^ Rukhaiyar, Ashish (19 August 2015). "Financial Technologies changes name to 63 Moons".
  10. ^ Saritha Rai (24 September 2014). "Jignesh Shah: After Phenomenal 15-year Run, MCX Founder Loses Commodities Empire". Forbes. Retrieved 20 December 2022.
  11. ^ "63 Moons Technologies Ltd". Business Standard India.
  12. ^ "The amazing story of Jignesh Shah and MCX". www.rediff.com.
  13. ^ "Jignesh Shah Resigns as FTIL MD, to Become Chairman Emeritus".
  14. ^ "FTIL gets RoC nod for name change to 63 moons tech". BusinessLine. 27 May 2016. Retrieved 22 November 2024.
  15. ^ "Sebi slaps penalty on 63 Moons Technologies". The Indian Express. 27 December 2017. Retrieved 22 November 2024.
  16. ^ "FTIL completes sale of NBHC stake to IVF for Rs 241.74 crore".
  17. ^ a b c "63 Moons Technologies Ltd".
  18. ^ "IEX to transform electricity trade in India".
  19. ^ "Financial Technologies-promoted MCX to exit 3 exchange ventures".
  20. ^ "FTIL to launch bourses in Singapore, Bahrain, Mauritius in 2010".
  21. ^ "Financial Technologies Acquires 60% Stake In Bourse Africa".
  22. ^ "Global Board of Trade Ltd (GBOT) Formally Launched by the Prime Minister of the Republic of Mauritius Today".
  23. ^ "Financial Technologies launches Bahrain Financial Exchange; BFX to go live from 7th February".
  24. ^ "Japan's NTT Data buys 55% stake in Atom Tech for $9 million".
  25. ^ "NTT Data buys 55.35% in Atom". The Hindu. 27 November 2018. ISSN 0971-751X. Retrieved 11 May 2024.
  26. ^ "63 moons offers trading software Odin at 50% discount as NSE shuts NOW". Business Standard. 10 June 2020. Retrieved 22 November 2024.
  27. ^ Srivats, K. R. (14 August 2024). "63 Moons to sell three business units for ₹135 crore". BusinessLine. Retrieved 22 November 2024.
  28. ^ "The great enabler - Jignesh Shah".
  29. ^ SHAH, PALAK (6 December 2021). "Jignesh Shah's 63Moons announces a comeback with Blockchain, cryptocurrency foray". @businessline. Retrieved 17 December 2021.
  30. ^ "TickerPlant launches cryptocurrency super app CryptoWire: All you need to know". cnbctv18.com. 13 December 2021. Retrieved 17 December 2021.
  31. ^ Mishra, Arushi (28 May 2024). "63 Moons Technologies announces new tech initiatives". The Hindu Business Line. Retrieved 30 September 2024.
  32. ^ "63 moons forays into cybersecurity, ties up with 10 global IT firms". BusinessLine. 21 February 2024. Retrieved 11 May 2024.
  33. ^ "Jignesh Shah places next bet on cybersecurity". The Hindu. 21 February 2024. ISSN 0971-751X. Retrieved 11 May 2024.
  34. ^ Jain, Ankur; Kakani, Ram Kumar (5 December 2009), Applying Population Dynamics Theory on Entrepreneurial Survival Strategy: Case of Financial Technologies and its Promoter (SSRN Scholarly Paper), Rochester, NY, doi:10.2139/ssrn.1538222, SSRN 1538222, retrieved 2 March 2024{{citation}}: CS1 maint: location missing publisher (link)
  35. ^ "Data Security Council of India (DSCI)". www.dsci.in. Retrieved 2 March 2024.
  36. ^ "Financial Tech wins 'Golden Peacock HR Excellence Award' 2011". BusinessLine. 23 August 2011. Retrieved 2 March 2024.
  37. ^ "Untold story of NSEL: Who were the real culprits behind the crisis?". Financialexpress. 28 May 2019. Retrieved 15 June 2024.
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Further reading

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