SMX is a wholly-owned subsidiary of Financial Technologies, which is a leading player in creating and operating exchange platforms.
Billionaire Jignesh Shah-promoted Financial Technologies today said it will launch three new international exchanges, including Bahrain Financial Exchange and Singapore Mercantile Exchange, this year.
In the first major international exchange business initiative by an Indian entity, a new commodity and currency bourse, Singapore Mercantile Exchange (SMX) on Tuesday commenced trading here with derivatives contracts like gold, crude oil and Euro-US dollar.
The turmoil in financial markets seems to be affecting the global expansion plans of Financial Technologies, promoter of top domestic commodity bourse MCX, and trading at its overseas exchange ventures in Singapore, Mauritius and Bahrain may get delayed by about a year.
The PM was also seen chit-chatting with Japanese Prime Minister Shinzo Abe, Russian Prime Minister Dmitry Medvedev and Malaysian Prime Minister Najib Razak at the reception for the leaders who have arrived in Manila for the 31st ASEAN summit and related meetings.
Few top honchos of India Inc did very well in 2014.
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