Back in the 1990s, Stock and Commodity exchanges in India were far from being technologically sound. The markets used to work on a highly traditional platform that needed advancements.
Not many entrepreneurs or entities sensed the need of a technological breakthrough. But there are visionaries who possess the ability of thinking out of the box. One such visionary, a former Bombay Stock Exchange employee, realized that he could contribute to India’s financial market. His name is Jignesh Shah, the founder of Financial Technologies (India) Limited (FTIL).
Jignesh Shah founded FTIL in 1995, with a clear goal of transforming financial markets in India.
FTIL began providing technological assistance to numerous stock exchanges in India, which included the National Stock Exchange (NSE). The company provided software and technical solutions for online trading. During this period, the involvement of Indian markets in commodity exchange was nearly non-existent. Jignesh Shah saw the scope for an incredible growth in the two sectors.
FTIL and Jignesh Shah’s exceptional work was appreciated and recognized by many. Some of the prestigious awards bagged by this genius include:
- Global IT Innovation Award (12 Jan, 2007)
- Deloitte Technology Fast 500 Asia Pacific Ranking And CEO Survey 2006 (12 Dec, 2006)
- IMM Top Organization Award (17 Jan, 2007)
- IT People Award For Product Innovation (19 Jan, 2007)
- NASSCOM Innovation Awards 2007 (13 Feb, 2007)
Jignesh Shah’s path-breaking ideas about commodity exchanges were not just limited to India. Markets in Singapore, Dubai, Bahrain and Africa also invited FTIL to work on their functionalities.
As a result of Jignesh Shah’s determination and diligence, FTIL’s tech-driven products were able to connect different financial markets for a better financial growth.