63 moons technologies: From Inception to Impact

Jignesh Shah’s vision as the coach and mentor of Jignesh Shah 63 moons technologies has been its cornerstone, a company that has redefined financial markets and now is set to lead in next-generation technologies. Founded in 1995 as Financial Technologies India Limited (FTIL), the company continues to exemplify Jignesh Shah’s entrepreneurial zeal in creating IP based solutions that drove economic progress and fostered inclusive growth. Though Shah holds no executive role in the company, his philosophy and mentorship continues to steer Jignesh Shah 63 moons into pioneering ventures in various sectors. This article explores the company’s journey and its transformative impact across financial markets.

Inception: A Vision for Financial Innovation

●   Founding FTIL: In 1995, Jignesh Shah, an engineer-turned-entrepreneur, established Jignesh Shah FTIL in Mumbai with a vision of modernising India’s financial infrastructure. His vision was to create technology-driven platforms that integrated India with global markets while bridging economic divides.

●   Early Innovation with ODIN: In 1998, Jignesh Shah introduced ODIN (Open Dealer Integrated Network), a pioneer multi asset class trading platform that revolutionized brokerage operations. Against all odds, it captured more than 80% market share and enabled stock trading activity across 400 Indian cities with about 5 million trading terminals, ODIN became the backbone of multi-asset trading, empowering brokers and investors.

●   Public-Private Partnership (PPP) Model: Jignesh Shah’s PPP approach combined entrepreneurial innovation with institutional support, laying the foundation for world-class financial institutions that created millions of jobs and contributed to India’s growth.

Impact on Financial Markets

FTIL, under Jignesh Shah, built ten multi-asset class exchanges across the globe, establishing India as a global financial epicentre. These platforms transformed trading, risk management, and economic connectivity.

●   Multi Commodity Exchange (MCX): Launched in 2003, Jignesh Shah MCX became India’s #1 commodity derivatives platform and #2 in the world. It revolutionised trading in gold, oil, and agricultural products, enhancing price discovery and risk management for all the stakeholders. According to a survey conducted by TISS, MCX also created more than a million jobs and contributed 1% of India's GDP. Its 2012 IPO drew $7 billion in subscriptions for a $132 million issue, reflecting market confidence.

●   MCX Stock Exchange (MCX-SX): When century old stock exchanges were struggling to create market depth, MCX-SX brought financial inclusion by democratising the trade in futures & options, currency derivatives and debt market segments.

●   Indian Energy Exchange (IEX): IEX revolutionized electricity trading, making power markets efficient and accessible. It reduced costs for industrial consumers in various states, fostering energy security and economic growth.

●   Global Exchanges: Jignesh Shah’s vision extended globally with exchanges like the Dubai Gold and Commodities Exchange (DGCX), which was the only of its kind venture between MCX and the Government of United Arab Emirates, the Singapore Mercantile Exchange (SMX), which connected Asia to world markets, the Bahrain Financial Exchange (BFX), which introduced Shariah-compliant trading offerings, Bourse Africa and Gbot further expanded financial inclusion, energizing bond markets and rural investment.

●   Tech Solutions: Beyond exchanges, FTIL developed tools like atom Technologies pioneered mobile payments way before its popularity, and Ticker, that delivered real-time market data, empowering all the stakeholders in the trade to make a well-informed decision, reinforcing India’s fintech leadership.

ALSO READ: How Jignesh Shah's Innovative Vision Put India on a Global Commodity Map

Trailblazing New-Age Technologies

As markets evolved, Shah’s mentorship inspired Jignesh Shah 63 moons’ pivot towards disruptive new-age technologies with ventures in domains like, cybersecurity, legal tech, and Web 3.0, positioning the company as a global tech leader.

Cybersecurity: 63 SATS

●   Market Need: Jignesh Shah firmly believes that “If the data is oil, AI is brain then cybersecurity is oxygen.” With cyberattacks posing a $10.5 trillion annual risk by 2025, cybersecurity is critical. 63 SATS promises to address this need-of-the-hour through innovative solutions.

●   Products: 63SATS offers comprehensive cybersecurity for individuals, enterprises, as well as the nation against cyber-attacks via three state-of-the-art offerings: CYBX , 63CSF, and CYBERDOME.

●   Global Partnerships: Collaborations with firms like Blackberry, Resecurity, and many more, ensure world-class solutions. Advised by Yigal Unna, former Director of Directorate's Cyber Technologies Unit in the INCD., 63 SATS aims to protect India’s cyber infrastructure.

●   Expansion: 63 SATS has conducted multi-city roadshows to build a nationwide franchise network, targeting a ₹1 lakh crore Indian cybersecurity market by 2029.

●   Impact: By addressing these cyber threats, 63 SATS strengthens India’s digital infrastructure, fostering trust in its growing digital economy.

Legal Tech: QiLegal

●   Market Potential:  The Supreme Court currently faces a backlog of over 80,000 pending cases, making technological adoption in the legal field unavoidable. QiLegal aims to digitize India’s judicial system.

●   Features: QiLegal aims at providing an AI-powered, cloud-based SuperApp that digitalizes legal workflows by providing arbitrators, mediators, and dispute resolution professionals with an impartial, technology-driven alternative to traditional court litigation.

●   Vision: Jignesh Shah’s mentorship inspires QiLegal to empower justice delivery, aligning with PM Modi’s push for judicial digitization. It streamlines legal processes for professionals and citizens, reducing delays.

●   Impact: By modernizing the legal framework, QiLegal supports India’s ambition to become a global digital hub, ensuring faster, transparent justice delivery.

Web 3.0 and Blockchain: 3.0 Labs

●   Emerging Opportunity: With the digital economy at the path of surpassing the physical, blockchain’s potential for asset tokenization is immense. 3.0 Labs leverages blockchain, AI, and the metaverse to redefine digital markets.

●   Applications: 3.0 Labs enables businesses to establish a presence in Web 3.0, facilitating tokenized assets and decentralized platforms. It aligns with Shah’s goal of creating “decacorns” in tech.

●   Impact: 3.0 Labs positions Jignesh Shah 63 moons at the forefront of Web 3.0, driving innovation in wealth management and digital ecosystems.

Shah’s Mentorship: Guiding the Future:
Jignesh Shah’s role as the coach and mentor fosters a culture of innovation, evident in Jignesh Shah 63 moons’ shift from financial markets to tech frontiers. His belief in technology’s societal impact, drives the company’s new ventures.

Conclusion: A Legacy of Disruption

From its inception as Jignesh Shah FTIL to its current avatar as Jignesh Shah 63 moons, Jignesh Shah’s vision brought disruption to the financial markets. The company’s exchanges revolutionized trading, while tech solutions set global benchmarks. and Now as the coach and mentor of the company, Shah’s legacy of disruption continues to shape the future of technology.