63 moons technologies: Highlighting Company’s Approach Towards Leadership and Business Structure

Jignesh Shah, a luminary of Indian entrepreneurship, envisioned transforming India into the “Manhattan of the East”, a transformative force in the global finance ecosystem alongside the top economic centers. It is said that it takes 10 years to establish 1 exchange but Jignesh Shah, with his drive and acumen, built a network of 10 world-class multi-asset class exchanges around the globe in a span of just ten years, setting a stepping stone for the financial infrastructure of the country. His journey, which is rooted in the ethos of building from the grassroots, stands as the precursor to the “Make in India” success story. The success of the institutions and exchanges on the world stage is a testament to his innovative spirit, resilience, and a dream to elevate India’s global stature. 

The Dreamer’s Blueprint: Jignesh Shah’s Vision

Jignesh Shah was born with an entrepreneurial spirit that he turned into a groundbreaking vision. Shah envisioned an India where its financial Infrastructure could stand shoulder to shoulder with New York or London, featuring smooth, tech-driven exchanges that everyone could access. “India can be the financial capital of the East,” he declared, dreaming of a country where farmers, traders, and industries could flourish through interconnected markets.

A Decade of Disruption: Building 10 Exchanges

Jignesh Shah's most impressive accomplishment was setting up 10 world-class exchanges between 2003 and 2013, making his company 63 moons the only entity in India to establish 10 world class exchanges covering all the asset classes including equity, debt, currency, commodities and energy, both in India and around the world, a feat that truly highlighted his strategic genius. These included:

1. Multi Commodity Exchange (MCX): Became the world’s second-largest commodity exchange and #1 in gold and silver, created more than 1 million jobs and India’s first commodity exchange to go public.
2. Indian Energy Exchange (IEX): India’s premier power exchange, #1 in electricity futures, addressing energy shortages with transparent trading..
3. MCX Stock Exchange (MCX-SX): A stock exchange offering from 63 moons group, it climbed on top in global league tables in just 2 years in trading currency derivatives, against the stiff competition from the monopoly of BSE and NSE.
4. Dubai Gold and Commodities Exchange (DGCX): A Middle Eastern hub for commodity futures established as a joint venture between the Government of United Arab Emirates and the MCX.

The First Make in India Story

Jignesh Shah’s establishment of these exchanges was the heart of India’s original “Make in India” movement, a grassroots effort aimed at creating world-class institutions through homegrown innovation. Unlike the financial models brought in from abroad, Shah’s exchanges were specifically designed to meet India’s distinct needs, empowering farmers, small traders, and various industries. Take Jignesh Shah MCX, for example; it transformed commodity trading by allowing farmers to protect themselves against price fluctuations, while IEX made affordable electricity accessible to energy-deprived states.  

Shah’s influence went well beyond just trading platforms. Initiatives like NBHC offered warehousing and credit services, generating rural employment and enhancing agricultural earnings. His tech platforms, including ODIN, which captured a whopping 80% of India’s broking market, and Ticker, provided real-time data that helped stakeholders make informed choices.