Financial Tech to launch 3 international exchanges in 2010
Billionaire Jignesh Shah-promoted Financial Technologies said it will launch three new international exchanges, including Bahrain Financial Exchange and Singapore Mercantile Exchange, this year.
The SMX (Singapore Mercantile Exchange) will go live in August 2010, the GBOT (Global Board of Trade, Mauritius) in September and the BFX (Bahrain Financial Exchange) in October this year.
The bourses, as regulated market platforms, will endeavor to be the enablers of financial inclusion through efficient transmission of fiscal and monetary policies of their respective governments and regulators and will democratise 'access' to financial products and services, Financial Technologies said.
They aim to propagate inclusive and equitable growth and an investment cult in regions they operate in to further propel economic growth and job creation in their respective local markets, it said.
"Financial Technologies Group is perhaps the first company in the history of modern civilization to successfully set up three greenfield regulated exchanges from ground-up which would go live in the same year," Financial Technologies Group Chairman and Group CEO Jignesh Shah said.