Financial Daily from THE HINDU group of publications
Sunday, Nov 27, 2005
Financial Daily from THE HINDU group of publications Sunday, Nov 27, 2005 |
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Corporate
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Overseas Investments Agri-Biz & Commodities - Commodity Exchanges Financial Tech sets up arm at Dubai metals centre Vimala Vasan
Abu Dhabi , Nov. 26 FINANCIAL Technologies (India) Ltd (FTIL) has set up a 100 per cent subsidiary Financial Technologies Middle East (FTME) at the Dubai Metals and Commodities Centre (DMCC). Mr Jignesh Shah, Chairman and Managing Director, FTIL, in Dubai for the launch of the Dubai Gold and Commodities Exchange - a joint venture between DMCC, FTIL and Multi Commodity Exchange of India (MCX) - told Business Line, that details for the exact nature and positioning of the new subsidiary as an international platform for FTIL was being worked out. "Details of the project will be finalised and disclosed by the first quarter of 2006," he said. Mr Shah was of the view that FTME could contribute significantly to this region where currently, important developments are taking place with regard to automating equity, financial and commodity exchanges and financial services. "FTME hopes to participate in these developments and make its contribution," he said.
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