| Technology |
Financial markets worldwide are
focusing on greater transparency, higher liquidity,
wider participatory base, more efficient price discovery,
and better risk management. Regulated exchange platforms
are intrinsically better equipped to cater to these
developments vis-à-vis off-exchange or Over-the-Counter
(OTC) platforms. Over the last few years there has
been a surge in the volumes of exchange-traded products
across various asset classes, be it commodities, equities,
bonds or currencies.
FTIL’s robust and scalable exchanges and trading
technology platforms (Intellectual Property), coupled
with deep domain expertise, uniquely positions your
Company to create electronic, organised, and regulated
financial markets for ‘new asset classes’
and ‘new investor classes’ that are either
under-served by traditional economic vehicles or unviable
for economic considerations. |
| New Markets |
The region from Africa to Asia is
driving production and consumption of almost all asset
classes. These emerging economies are also increasingly
influencing global pricing and trade. The Financial
Technologies Group is focused on setting up efficient
and profitable exchanges and ecosystem ventures in
the emerging economies from Africa to Asia.
Regulations permitting trading in asset classes such
as equities, interest-rate derivatives, credit default
swaps, cross-currency derivatives, bonds, etc., are
likely to be introduced in India and other markets
in which the Group operates. Our domain expertise
will enable us to introduce trading in new asset classes
on our efficient tech-centric exchange platforms in
different regions. We also intend to cater to the
needs of new market participants such as the micro,
small and medium enterprises (MSMEs), foreign institutional
investors (FIIs), mutual funds, among others, as and
when regulatory reforms are introduced. |
| Inorganic Growth Opportunities |
| While organic growth has been the
most important driver of FTIL’s growth in India
and other emerging markets, your Company believes
in forging alliances and working jointly with market
leaders across business verticals and geographies.
We believe, this will foster growth and transform
your Company in to a truly global entity. FTIL constantly
evaluates various inorganic growth opportunities and
will continue to do so to complement its organic growth
model. |
| |
| |
|
 |
| Leveraging on Exchange Business |
| The growth of the Group’s
exchange business has a direct impact on its products
business. Being a leader in providing front-end and
back-end transaction products and STP solutions to
the financial services industry, FTIL continues to
‘disrupt’ legacy processes and replaces
them with cutting-edge breakthroughs—while,
at the same time, we continue to nurture our deep
domain expertise to create and operate exchanges. |
| |
| FINANCIAL POSITION AND RESULT OF
OPERATIONS |
| CONSOLIDATED |
| The consolidated financial results
for the year ended 31st March 2009, are not comparable
with the consolidated financial figures of the previous
year as one of the material subsidiary company ‘Multi
Commodity Exchange of India Ltd. (MCX),’ ceased
to be the subsidiary of the Company w.e.f. 29th October
2007 and hence analysis of consolidated financials
is not provided. |
| STANDALONE |
| Shareholder’s Equity |
FTIL currently has only one class
of shares – equity shares of face value of Rs
2/- (Rupees Two only) each. The Company’s authorised
share capital is Rs 300 million, divided into 150
million equity shares of Rs 2/- each.
During the year under review there was no change in
the paid-up equity share capital of the Company and
stood at Rs 91.77 million as on 31st March 2009. |
| Reserves & Surplus |
During the year, Financial Technologies’
total reserves and surplus position improved by 19%
to Rs 17,405.22 million from Rs 14,602.01 million
for the financial year 2007-08.
Balance in Securities premium account as at 31st March
2009 stood at Rs 4,977.28 million as compared to Rs
5,147.68 million in the previous year. The Securities
premium account has been adjusted during the year
to the extent of provision created for premium payable
on redemption of ZCCB as permitted by section 78 of
the Companies Act 1956. |
| |
| |
|
