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In the dynamic world of finance, certain individuals emerge who donu2019t just participate but fundamentally reshape the landscape. Jignesh Shah is widely regarded as one such figure. Lauded as the u2018Innovator of Modern Financial Marketsu2019, he stands out as a first-generation entrepreneur whose vision led to the creation of numerous next-generation and multi-asset class exchange platforms.
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JIGNESH SHAH The Innovator and Czar of Exchanges
WHO IS JIGNESH SHAH? In the dynamic world of finance, certain individuals emerge who don’t just participate but fundamentally reshape the landscape. Jignesh Shah is widely regarded as one such figure. Through his innovative zeal, unwavering spirit, and ahead-of-its-time perspective, Jignesh Shah realised the dream to position India as a leader in the global marketplace by setting up ten world-class exchanges across continents.
Studio Shodwe PIONEERING EXCHANGES: A TIMELINE OF INNOVATIONS The story starts in the year 1995. This was the year when Jignesh Shah founded Financial Technologies India Limited (FTIL). The company, which is now named Jignesh Shah 63 moons technologies, was established to provide technology solutions and specialised domain expertise for digital transactions and financial markets covering all types of assets. When India was just beginning to open its financial systems, Jignesh Shah demonstrated pioneering spirit by creating ODIN (Open Dealer Integrated Network).
Studio Shodwe In 2003, Jignesh Shah 63 moons launched the country’s first demutualised and electronic commodities derivatives exchange, Multi-commodity Exchange (MCX). MCX went on to become the second-largest commodity exchange in the world and number one in gold and silver, while also becoming the first exchange to be listed on the Indian stock market. Venturing beyond Indian borders, Shah made his first international move in 2005 with the Dubai Gold & Commodities Exchange (DGCX) — the first-ever commodity derivatives exchange in Dubai. The global expansion continued into 2009 with the establishment of Bourse Africa. Jignesh Shah created this leading multi-asset exchange in Africa, opening significant opportunities on the continent.
Studio Shodwe THE ENDURING LEGACY OF THE CZAR What’s remarkable is that Jignesh Shah set up ten world-class exchanges in a decade and that too across asset classes and geographies. His work did not merely involve setting-up platforms; he fundamentally reshaped India’s financial markets and left an undeniable mark on the global exchange landscape. Thus, the title he earned, ‘Czar of Exchanges’, is seen as a fitting acknowledgement of a man who possessed the courage to dream grand visions and the capability to deliver on those promises.
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