Exchange Ventures

Dubai Gold & Commodities Exchange (DGCX), the middle-east’s first derivatives and commodities exchange, is a joint venture between Financial Technologies (39%), MCX (5%), other international investors(5%) and the Dubai Multi Commodities Centre (DMCC) (51%). DGCX is strategically positioned between the time zones of London and Tokyo and enjoys a 50-year tax holiday, being in the free trade zone. DGCX, currently facilitates trading in gold, silver, currency ($: Euro, $: Japanese Yen, $: Pound, $: INR), steel rebar and marine fuel oil derivatives, with electronic trading accessible from anywhere in the world. The members associated with DGCX include JP Morgan, Man Financial, HSBC, Deutsche Bank, Standard Chartered Bank and FIMAT.

DGCX offers huge advantages to existing participants in physical commodities markets in the region which include an effective regulatory structure, Futures and Options trading on a range of commodities, robust risk management and surveillance systems and settlement guarantees provided by Dubai Commodities Clearing Corporation (DCCC).

IBS Forex is India’s No. 3 online inter-bank Forex trading system with average daily volumes over US$ 30 million. IBS Forex has 26 banks subscribing to FX-Direct™, the digital currency trading platform created by Financial Technologies. IBS Forex has recorded a cumulative turnover of more than US$ 55 billion to date. The esteemed banking clientele of IBX Forex includes Canara Bank, Corporation Bank, Union Bank of India, State Bank of Hyderabad and State Bank of Indore to name a few.

IBS Forex enables deal matching in an online, real-time and anonymous environment. The FX-Direct™ platform delivers liquidity, efficiency and deep functionality in foreign exchange dealing, for both spot and forward trading in USD: INR, along with optimal 'price-performance' features. With the introduction of Futures & Options, other derivatives contracts, retail and corporate participation and global currencies on the platform, subject to the relaxation of regulations by the RBI, IBS Forex has positioned itself for robust growth.

National Spot Exchange Limited (NSEL) is India’s first nationwide spot exchange for agricultural produce. It was set up by Financial Technologies in partnership with National Agricultural Cooperative Marketing Federation of India Limited (NAFED), the leading government agency engaged in food procurement, distribution, and storage activities. NSEL services the Rs.17,500 billion physical trade market in agricultural commodities, providing opportunities to physical trade participants as well as investors.

NSEL is a pan-India electronic, institutionalized and structured market for procurement and disposal of commodities where farmers can sell their produce and realize sale proceeds at the best prevailing price. On the other hand, the processors, end users, exporters, corporates and traders can procure agricultural produce at the most competitive price, without any counter party risk and quality risk. NSEL is also set to benefit arbitrageurs by allowing them to take advantage of cash-futures arbitrage electronically which will ensure the healthy growth of the futures market through development of the structured spot market.

NSEL is also undertaking initiatives to empower farmers and usher in the next “Green revolution” by harnessing technology to improve cultivation and provide spot trading facilities so as to create a common Indian market.

Global Board of Trade Ltd (GBOT), licensed by the Financial Services Commission of Mauritius, will be the first pan-African, derivatives exchange and a gateway to serve the African continent. GBOT, promoted by Financial Technologies, will be an electronic trading platform with its central matching engine connected by VSAT / internet to terminals of members in their own offices, in any part of the world. GBOT will start operations with trade in commodity derivatives and subsequently, expand to include other asset classes such as equity, bonds, and currency derivatives as well as ‘exotic’ commodities such as carbon credits, and indices.

GBOT will provide a comprehensive framework encompassing electronic exchange trading and clearing solution, risk management and online risk-based supervision, membership development, contract specification and structuring, banking system interface leading to real-time settlement, business rules and by-laws, effective corporate governance framework, investor awareness and knowledge development. GBOT endeavors to introduce modern market mechanisms into Africa’s commodity ecosystem and to serve as a one-stop window for the global investing community.

The Bahrain Financial Exchange (BFX) aims to provide the region’s most sophisticated, transparent and liquid exchange; offering access to a diverse range of multi asset products within a unique customer centric environment.

The BFX will be an efficient platform for regional and international businesses to raise capital by issuing and listing various types of financial instruments on BFX markets.

Via a multi access trading model, BFX will offer multi-asset class trading of conventional products whilst also pioneering Sharia compliant products within the regulatory framework of the Central Bank of Bahrain (CBB).

Indian Energy Exchange Ltd. (IEX) is Asia’s first-ever power exchange for spot trading in electricity. IEX is an automated and demutualised bourse with nationwide operations within the regulatory parameters of the Central Electricity Regulatory Commission (CERC).The estimated physical market of power trading in India is 3% of generation (US$ 1,875 million of the total volume of US$ 62,500 million) as against 10-40% globally. Power-deficient India is attracting new means of power generation and regional disparity in the availability of power calls for redistribution. To meet this need, IEX envisions to create a world class, national-level, online trading platform for electricity to provide an efficient and transparent price discovery mechanism to the generator, distribution licensees, traders, consumers and other stakeholders.

Promoted by Financial Technologies with Power Trading Corporation (India) Ltd. as co-promoter, IEX’s key stakeholders include prominent names such as Tata Power Company, Reliance Energy, Lanco Infratech, Adani Enterprises, Rural Electrification Corporation (REC), and Infrastructure Development Finance Company. IEX facilitates equitable, transparent and efficient trading of power and bridges the demand-supply mismatch by bringing larger players together for buying and selling in an auction-based system, thereby giving liquidity to the power generated markets.

Singapore Mercantile Exchange (“SMX”) an international commodity derivatives exchange situated in Singapore will offer a state-of-the art electronic trading platform for trading a diversified basket of commodities including futures and options contracts on precious metals, base metals, agriculture commodities, currencies and commodity indices. SMX is currently in the process of obtaining the necessary regulatory approvals from the Monetary Authority of Singapore (MAS).

Dealers, brokers and their customers will be able to connect to SMX’s trading platform through a number of connectivity options, including leased lines, dial-up, multi-protocol label switching and the Internet either with the native front-end provided by the SMX or the front-end developed by independent software vendors.

SMX’s platform will provide a fair, transparent and efficient mechanism for price discovery with orders being matched electronically. The best buy order will be matched with the best sell order based on a price-time priority, ensuring best prices for both buyer and seller. SMX will act as the counterparty for each transaction executed on its platform through settlement guarantees provided by its clearing house, the Singapore Mercantile Exchange Clearing Corporation, a 100% subsidiary of the Singapore Mercantile Exchange.

MCX Stock Exchange (MCX-SX) is a stock exchange recognised by the SEBI & RBI and has been allowed to operationalize the exchange traded currency derivatives.

The exchange will allow importers, exporters, investors, corporations and banks to hedge their currency risks with greater transparency and safety. With a large number of banks, corporates, brokerage houses and actual users as trading members, MCX-SX will provide the desired liquidity and depth for all categories of users. Further, MCX-SX will guarantee settlement of all transactions which will enhance safety by eliminating counterparty risk. Besides large users, MCX-SX will also benefit small and medium enterprises (SMEs) who hitherto did not have easy access to the currency markets. MCX-SX has been promoted by Multi Commodity Exchange of India Ltd. (MCX) and Financial Technologies (India) Limited (Financial Technologies)

Bourse Africa is the first pan- African spot and / or derivatives multi asset exchange to offer trading in commodities, currencies, bonds and diamonds, under the regulatory framework of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). The exchange will have a pan-Africa presence through a hub and spoke model that will connect all the major countries in Africa. Operating out of Botswana, Bourse Africa is accredited to the Botswana International Financial Services Centre (IFSC).

Bourse Africa will serve financial and commodity market participants and investors, both African and international, to provide possibilities for hedging, arbitrage and investment. The exchange will catalyse improved performance in African commodity and financial markets through enhancing price discovery, market transparency, risk management, cross-border economic integration, finance and investment on the Continent.