India’s financial markets evolved from small, scattered trading places to advanced digital systems because of strong ideas and consistent technological improvements. At the heart of this shift is Jignesh Shah, founder of Financial Technologies India Ltd, now called 63 moons technologies. 63 moons did more than just join the growth of India’s markets; its influence helped build the tech foundation that changed how trades took place nationwide. Shah combined innovative thinking with steady effort to show technology could transform financial systems and put India on par with global financial infrastructure. From day one, Shah focused on solving real and fundamental problems in finance; this was not a passing trend, it was a clear vision guided by his visionary decisions, and every step stayed aligned with market needs. The results spoke for themselves: efficiency improved, costs dropped, and access expanded rapidly, giving rise to technologically cutting-edge and self-sufficient domestic markets.
The Beginning of a Bold Vision
The story of Shah’s vision starts in 1995 when Jignesh Shah founded Financial Technologies India Ltd. His aim was straightforward but bold: to modernise India’s outdated financial systems and bring in technology-powered tools and solutions. Before the word ‘fintech’ became popular, Shah and 63 moons built digital platforms for fast, open, and easy trading.
One big breakthrough from FTIL was the IP-based broking software ODIN. This system served brokers, large investors, and regular traders with a strong digital interface to trade nationwide. Owing to the innovative qualities of the software, it gained traction fast; ODIN soon became the top choice nationwide, capturing over 80% of the market share even with strong competition. That success pushed Shah further in his plan to make India a global financial power. He often said he wanted to turn the country into the Manhattan of the East.
Transforming India’s Exchange Landscape
63 moons’ goals under Jignesh Shah went beyond creating trading platforms; following Shah’s innovative vision, the company helped launch several exchanges that became key parts of India’s financial system.
One of the most important of the exchanges was the Multi Commodity Exchange, which started in 2003. MCX changed how commodities were traded by moving transactions into a clear digital setup. Farmers, traders, and investors now joined a formal market where prices were set through live electronic trading. The exchange grew fast and gained worldwide traction. Soon enough it became the second-largest commodity exchange globally and number 1 in gold and silver futures. At its height, MCX’s daily trading volumes reached over one lakh crore rupees, an unheard-of achievement for an Indian exchange. Beyond trading volume, MCX added real economic benefits to the society at large. It paid nearly 600 crore in taxes to state and central governments and supported over a million jobs in trading, logistics, warehousing, and connected fields. In many cases, Jignesh Shah MCX raised new standards for openness and efficiency in commodity markets.
Shah’s vision included more than just commodities; starting with the MCX Stock Exchange, his push brought a fresh depth to India’s equity markets. Through MCX-SX instead of old methods, traders gained access to currency derivatives through a streamlined network. Futures and options found new ground thanks to 63 moons’ proprietary exchange technology that powered MCX-SX. Debt segment and currencies also got revitalised within the same framework. Out here, the Indian Energy Exchange sparked change across the power industry through digital tools. Because it allowed scientific pricing in electricity trades, grids ran smarter and regions with low supply found some breathing room.
Building a Complete Market Ecosystem
What set 63 moons apart wasn’t just the trading platforms it created; rather, it was the full network of services and institutions built around them. Jignesh Shah knew markets work best when they include more than just exchanges, they require strong systems for holding goods, handling payments, and moving information smoothly.
To meet those needs, 63 moons launched multiple supporting institutions. The National Bulk Handling Corporation grew into the biggest private firm for warehousing facilities, managing agricultural products, and offering financing options from the leading banks of the country against the produce in the warehouse. At its highest, it handled commodities valued at over 42,000 crore. atom Technologies provided online payment services for the trade way before the advent of UPI.
Ticker became a top live financial data provider, giving investors strong, reliable and real-time information to guide their choices.
These organisations created a solid network that backed 63 moons’ exchanges and boosted efficiency and smooth operations throughout the financial system.
A Legacy That Continues to Inspire
The journey of Jignesh Shah shows how technology and innovative thinking can revolutionise not just ecosystems but the destiny of a whole country. It seems clear that Shah’s approach of public and private partnerships accelerated the financial progress of the country; through this approach, Shah infused a much-needed trust in the market systems.
Shah’s vision also focused a substantial portion of his efforts on helping communities because he believed that real progress comes from empowering the society at large. Programs like Pragati, started with Rotary International, showed he believed financial growth should include social impact.
And now, as chairman emeritus and coach and mentor at 63 Moons Technologies, he continues to empower the new and innovative ideas of the new crop of entrepreneurs of the company. His story proves market change isn’t just about numbers of charts; it needs innovation, consistent effort, and the strength to break old norms.
