Board of Directors

• Vision: Markets for the Masses
• Innovator of modern financial markets through PPP model
• Founder of MCX - the world's 8th largest commodity futures exchange. Also DGCX, GBOT, IEX, and SMX among others
• Driven to bring Wall Street to Man on Street
• Ranked among the 'Top 30 Global Innovators in e-finance' by Institutional Investors in 2008
• Listed among 'Dominant Financial & Futures Industry Leaders for 2008' by Futures Industry Association (FIA), Washington
• Recipient of Ernst & Young Business Transformation award
• Recognised by CLSA as one of India's top 20 entrepreneurs and inducted in their Hall of Fame

Mr. Shah is the founder, Chairman, and CEO of the Financial Technologies Group, a US$ 1.84 billion global leader in creating and operating technology centric financial exchanges for stocks, commodities, currency, and bonds among other asset classes.

Mr. Shah is often called the ‘Innovator of modern financial markets’ for his role in creating a successful public private partnership (PPP) model to build world class financial institutions from emerging economies. His vision is to bring ‘Wall Street to the Man on the street’ and drive inclusive and equitable growth through technology. He launched MCX in 2003 to create ‘Markets for Masses’. MCX is the world’s 8th largest commodity futures exchange as per the UNCTAD.

MCX’s success has inspired several countries and government entities to partner with Financial Technologies and promote various global exchanges such as Dubai Gold and Commodities Exchange (DGCX), Indian Energy Exchange Limited (IEX), IBS Forex Limited (IBS Forex), National Spot Exchange Limited (NSEL), Safal National Exchange of India Limited (SNX), Global Board of Trade (GBOT) in Mauritius, Singapore Mercantile Exchange (SMX) in Singapore and other commodity ecosystem ventures.

Mr. Shah is a recipient of the ‘Ernst & Young Entrepreneur of the Year’ award for business transformation. He has been recognized by CLSA as one of the ‘Top 20 Indians’ who can change the face of world business and has been inducted in their Hall of Fame. He has been honored with the ‘US-India Businessman of the Year’ and has been chosen by the World Economic Forum (WEF), Geneva, as the ‘Young Global Leader’. He has been presented with the ‘Global Social Entrepreneur’ award by Rotary International.

Mr. Shah is deeply passionate about the role of markets in corporate social responsibility activities (CSR) and has launched initiatives such as ‘Gramin Suvidha Kendra’ in association with India Post and ‘Pragati’ with Rotary International to empower underprivileged communities with education and training within the group.

• MD and CEO of NBHC
• Over 23 years of experience in banking and business management
• Handled major assignments in areas such as credit, international and branch banking
• Nominated by CII on its National Council on Agriculture
• Led NBHC to become the leading provider of complete commodity management solutions in India

Mr. Choudhary is Managing Director and CEO of National Bulk Handling Corporation Ltd. (NBHC), an initiative of Financial Technologies India Ltd. Under his leadership, the company has catapulted to international standards with enhanced competitiveness. Mr. Choudhary has conceived and implemented the NBHC brand identity as India’s leading provider of complete commodity management solutions.

Mr. Choudhary joined NBHC in December 2005, after having been initially deputed by SBI to MCX as Vice-President (Banking & Collateral Lending). A banker by profession, he has handled numerous challenging and high-profile assignments in areas such as credit, international and branch banking. He headed the San Jose (California) office of SBI and has to his credit the opening of a new office in Central Valley (Fresno) of California and making it profitable in a short time. He has worked extensively in branches in rural and semi-urban areas dealing with farm and SME credit.

Mr. Choudhary has over 23 years experience in banking and business management. He has held various leadership positions with SBI and MCX. He has been nominated by CII on its National Council on Agriculture. He led a CII delegation to the Parliament’s Standing Committee on Food, Consumer Affairs and Public Distribution, to present the industry’s viewpoint on the Warehousing (Development & Regulation) Bill, 2005.

Mr. Choudhary has played a crucial role in NBHC’s successes such as: the ISO 9001:2000 and ISO 22000:2005 certification (the only company of its kind nationally to have been ISO 22000-certified); Food Corporation of India (FCI) consultancy and assignments related to procurement, hedging and disposal of agro commodities; successful procurement of paddy in Madhya Pradesh for FCI and wheat in Uttar Pradesh and Rajasthan for NAFED; membership of GAFTA and NPMA; and tie-ups with a growing number of leading public and private sector banks including regional and rural banks, and District Cooperative Banks for collateral management and allied services

• Responsible for Financial Technologies’ end-to-end solutions for any multiasset exchange
• Instrumental in Financial Technologies attaining the ISO 27001:2005 and 9001:2000 certifications
• Responsible for Financial Technologies' HR initiatives
• Implemented Organizational Growth Commitment (OGC) plan for Financial Technologies Group
• Designed HR policies that won the India Brand Summit - 'Employer Branding Award 2007' for Financial Technologies Group

Mr. Ajmera, a computer science engineer, has been closely involved in product design and engineering efforts at Financial Technologies to suit its trading solution needs and to optimize system performance for the user. He possesses a unique combination of deep technical skills and extensive electronic trading experience enabling him understand, design, and apply technology from a trader’s perspective. He is responsible for all delivery operations for Member’s/Institute Dealing Room Solution including control over projects, reviews, staffing, customer escalation handling, enforcement of methodologies, productivity management and efficiency improvements.

Mr. Ajmera is responsible for all end-to-end solutions required for any multi-asset exchange including solutions for order management, matching, risk management, surveillance, and clearing house operations. He leads a team which provides solutions with practically zero downtime for trading activities for exchanges such as MCX, DGCX, SNX, and IEX. As a director of NBHC, a Financial Technologies Group company, Mr. Ajmera’s strong credentials and domain knowledge in providing IT solutions for development of new generation markets, have added immense value to NBHC’s efforts in delivering value-added IT enabled solutions to the clients.

His expertise in MIS, initiation of cost control measures and lead role in streamlining account handling processes have added immense value to the organization. He has played a significant role in helping Financial Technologies achieve ISO 27001:2005 and 9001:2000 certifications.

Mr. Ajmera is also responsible for the Group’s HR initiatives, including workforce development and organizational effectiveness, talent enablement, succession planning, and information management. Under his stewardship, the Group was able to bag the India Brand Summit - ‘Employer Branding Award 2007’ for the best HR strategy in line with business, and the Asia Pacific HRM Congress - ‘Global HR Excellence Award 2008’, for ‘innovative HR practices’ and the NASSCOM innovation awards 2007 for its Distributed Order Matching Engine (DOME).

• Specialist in Company Statutory Audits, Internal Audits, and both Company & Personal Taxation
• Member management Consultancy Division, N M Raiji & Co.
• Established his own accountancy firm named R Devarajan & Co.
• Director of Financial Technologies (India) Limited.
• Former Director Spectrum Computer Services ( P) Limited

Mr. Devarajan specializes in Company Statutory Audits, Internal Audits and both personal and company taxation. He is also a specialist in formation and audits/taxation of public charitable trusts.

During his stints with N M Raiji and Co, Mr. Devarajan was the Head of the statutory audits of several large sized companies and was also part of its Management Consultancy division. In 1979, he established an accountancy firm named R. Devarajan & Co., while continuing to work with N M Raiji & Co. The firm has been in existence for almost 30 years and has staff strength of 50 employees.

Mr. Devarajan was also a Director of Spectrum Computer Services (P) Limited, Spectrum Corporate Services Limited and Spectrum Business Solutions Limited.

Mr. R Devarajan is a Commerce graduate. He did his articleship with M/s N M Raijii & Co., Chartered Accountants, and in 1978, he became a Chartered Accountant.