How Jignesh Shah’s Innovative Vision Put India on a Global Commodity Map

1. HOW JIGNESH SHAH’S INNOVATIVE VISION Put India on a Global Commodity Map 01

2. INTRO- duction Jignesh Shah is a name synonymous with groundbreaking fintech leadership in India. Before the term ‘fintech’ became a global buzzword, Shah had already pioneered the concept by setting up an IP-driven technology company, Financial Technologies India Ltd., now known as Jignesh Shah 63 Moons Technologies, in 1995. His mission was clear: to provide path-breaking fintech solutions to the broking industry and institutional players, a feat that would eventually revolutionise India’s financial markets. Jignesh Shah’s relentless will and visionary foresight culminated in 2003 with the establishment of the Multi Commodity Exchange (Jignesh Shah MCX). This commodity exchange was conceived as a platform to bring order and openness to India’s tumultuous and fragmented commodity markets. 02

3. Jignesh Shah MCX’s Ascent A Technological Marvel • Under Jignesh Shah’s exceptional leadership, MCX stood out as a technological marvel, owing to Shah’s earlier leadership in his state-of-the-art fintech ventures. Launched in November 2003, Jignesh Shah MCX swiftly transformed India’s commodity market landscape. Soon after its inception, the exchange was clocking daily trading volumes worth over ₹1,00,000 crore. Jignesh Shah’s adept use of a Public-Private Partnership (PPP) approach played a significant role in MCX’s meteoric growth and unprecedented market penetration. 03

4. ECONOMIC EMPOWERMENT: THE SHAH EFFECT • More than just a trading platform, Jignesh Shah’s MCX played an instrumental role in transforming India’s economy. A comprehensive nationwide study conducted by the Tata Institute of Social Sciences (TISS), titled “A Million Jobs and a Million More Opportunities,” highlighted how MCX had directly and indirectly contributed to the creation of more than a million jobs and self-employment opportunities across diverse social groups and regions. Over the years, Jignesh Shah MCX has made a significant mark on the national economy. It contributed nearly 1% to India’s GDP 04

5. GLOBAL AMBITION SHAH’S INTERNATIONAL LEGACY • Jignesh Shah did not stop at revolutionising Indian markets. He ambitiously expanded his legacy to an international scale by setting up electronic trading networks across Africa, the Middle East, and Southeast Asia. Notable ventures included the Dubai Gold and Commodities Exchange (DGCX), Bahrain Financial Exchange (BFX), the Singapore Mercantile Exchange (SMX) and Bourse Africa. These initiatives not only connected global markets but also highlighted India’s prowess in fintech and exchange infrastructure. 05

6. Shah’sIndomitable Spirit • At the heart of Jignesh Shah’s enduring success was his remarkable capacity for innovation under pressure. His creation of ODIN, a flagship broking solution that achieved an 80% market share despite fierce competition from national and international players, demonstrated his flair for disruptive technology, a philosophy he carried forward into Jignesh Shah MCX. • After relinquishing all executive roles, Jignesh Shah has taken on the role of a mentor and coach at 63 Moons Technologies, nurturing the next generation of business leaders. His philosophy — “Every step we take is copied in 3–6 months” — reflects his relentless pursuit of innovation, consistently keeping his ventures ahead of competitors. 06

7. THANK YOU 07