63 Moons Technologies Ltd
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BSE Code:
526881
NSE Code:
63MOONS
Business Profile
Business Profile
Financial Technologies (India) (FINTECH), incorporated in 1988, is among the global leaders in offering technology IP (intellectual property) and domain expertise to create and trade on next-generation financial markets. Earlier known as e.Xchange on the Net, the company got its present name with effect from Aug. 29, 2001. It is a flagship company of the Financial Technologies Group, which has set up eight exchange ventures and six ecosystem ventures. MCX, IEX, DGCX (Dubai), GBOT Mauritius, IBS Forex, NSEL and SNX are all exchange ventures, while NBHC, TickerPlant Infovending, atom technologies, Riskraft Consulting, FT Knowledge Management Company, and FTME are ecosystem ventures.
The ISO 9001:2000 and ISO/IEC 27001:2005 certified company offers comprehensive end-to-end solutions for the securities industry vertical encompassing the entire trade lifecycle of pre-trade, trade and post trade processing. The products on offer are exchange solutions like DOME - No.1 in price/value proposition for integrated turnkey solutions for exchanges globally, and CNS - an industry leading clearing and settlement solution; brokerage solutions such as ODIN - No.1 brokerage solution with 90% market share offering a complete front-office solution offering built-in order routing, risk management and display engine with real-time connectivity to the back-office system, Match - a multi-user, multi-exchange, multicurrency integrated back office accounting and settlement system and DMA LIVE! - a next-generation technology innovation to provide unmatched price/value competitive advantage to India`s institutional brokerage and buy side firms; and FTNET, a network solution which is a fully-managed private network providing hosted FIX protocol enabled solutions.
A technology development center in Mumbai provides transaction automation technologies for equities, derivatives, forex and commodity markets. In FY08, it developed new products and versions including ODIN version 9.0; ODIN Netz; E-Mutual Fund, an online mutual fund facility; Portfolio Tracker, a facility to create investment portfolios for online investors; Net.net Lite, a browser-based trading platform that creates a multimode environment; DMA solutions for its front office suite of products in line with SEBI`s guidelines; and FIX Transaction Hub (FT Net) to enable automation of pre-trade flows from those who desire to invest from and into international financial markets.
Recent awards include the NASSCOM Innovation Awards 2007 and the Global HR Excellence Award 2007-2008 for the category of Organization with Innovative HR Practices in February 2008. Tickerplant Infovending, IBS Forex, Atom technologies, Riskraft Consulting, National Spot Exchange, National Bulk Handling Corporation, Financial Technologies Middle East - DMCC (FT ME), Global Board of Trade, Singapore Mercantile Exchange, Knowledge Assets, FT Group Investments, Financial Technologies Communications, Global Payment Networks, FT Knowledge Management Company, Trans-Global Credit & Finance, Capricorn Fin Tech, ICX Platform, and Apian Finance & Investment are subsidiary companies. Indian Bullion Market Association, Singapore Mercantile Exchange Clearing Corp., Financial Technologies Middle East FZ-LLC are step-down subsidiaries.
The registered office is located at Doshi Towers, 1st Floor, 1A & B No.156, Periyar, EVR Salai, Kilpauk, Chennai-600010.
Financials
Financial Technologies (India) registered a 2.79 times growth in net profit to Rs 1,698.73 million for the quarter ended June 2008 from a profit of Rs 608.42 million for the quarter ended June 2007.
Net sales rose 64.63% to Rs 440 million for the quarter ended June 2008 from Rs 267.27 million for the quarter ended June 2007.
Total income rose 147.04% to Rs 2,540.28 million for the quarter ended June 2008 from Rs 1,028.28 million for the quarter ended June 2007.
The earnings per share (EPS) of the company stood at Rs 37.02 for the quarter ended June 2008.
Recent Developments
07-AUG-08
Financial Technologies (India) has launched DMA LIVE! (direct market access) solution which is being welcomed by the financial market industry and community.
DMA LIVE! from Financial Technologies is built on ODIN suite of products and will allow clients direct control of their trades without depending on the broker for trade execution. DMA LIVE! will leverage the integration with ODIN solution platform, the market leading OMS (Order Management Solution) that Financial Technologies provides to over 80% of the large institutional and brokerage clients. DMA LIVE! offers direct control over orders, faster execution, reduced errors, greater transparency, increased liquidity, lower impact costs for large orders, and better audit trails. Financial Technologies has implemented DMA LIVE! solutions for large brokerage and financial institutional clients that are potential users of DMA, and has also provided them with a complete solution connecting domestic buy side with sell side through an Execution Management System (EMS) that gives them an edge over other providers. Domestic and foreign brokers can provide this facility to their high volume Institutional clients.
31-JUL-08
The company has acquired Apian Finance & Investment, a RBI Registered `NBFC` at a cost of Rs 15 million.
09-JUL-08
The company is planning to open similar commodity exchange in Singapore titled `Singapore Mercantile Exchange` (SMX).
10-APR-08
Financial Technologies India acquired 90% stake in ICX Platform (Pty), a technology company situated at Johannesburg, South Africa, having IPR & corporate ownership of electronic warehouse receipts technology, at a cost of upto USD 1.50 million, subject to applicable approvals and fulfillment of certain representations and warranties by the sellers of ICX.
Future Plans
The company is planning to set up a international multi commodity exchange in Mauritius against the invitation given by the Financial Services Commission, Mauritius.