Financial Technologies is a well-reputed company, with more than 60,000 public shareholders, an accomplished Board and a dynamic management, considered to be one of the most respected and widely regarded technology solutions companies that pioneered multi-asset-class trading segment. Cost-effective and efficient technology solutions enabled Indian financial markets to expand the reach, benefiting millions, including financial institutions, intermediaries, investors and other stakeholders.
Since its inception, FTIL has not received any complaint from exchanges or intermediaries, which are its biggest clients and customers. Even competing institutions used to buy technology solutions from FTIL, which is a testimony to its integrity and business ethics. There was never any regulatory action of any sort, although the exchange and ecosystem ventures of the Group were operating in several regulatory jurisdictions in India and abroad.
Despite all these, the Group was declared ‘Not Fit & Proper’ and forced to exit from its exchange ventures after the NSEL crisis. This is a huge loss for the nation as one of the finest financial institutions that promised to take India to glorious heights has been savaged.
To know more, read the book ‘The Target Book’ by ShantanuGuha Ray.
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