The Jignesh Shah-promoted Financial Technologies Group is all set for the official launch of Global Board of Trade (GBOT), the first international multi-asset class exchange based out of Mauritius, on October 15.
GBOT will offer a basket of commodity derivative products – including metals, energy, agri-soft, and currency derivative products – on its electronic exchange platform. An official release said the GBOT would, to begin with, offer trading in gold, silver, Mautitian rupee/dollar, dollar/rand, euro/dollar, pound/dollar and yen/dollar.
Shah, chairman, Financial Technologies Group and vice chairman of GBOT, said: “The cumulative GDP of Africa is estimated to be $2.6 trillion by 2020, with consumer spending of over $1.4 trillion, ample testimony to the fact that the continent is well-poised to see high levels of growth in the next decade. GBOT will create an ideal risk mitigation platform to cater to increasing levels of business activity and revolutionise the financial markets’ landscape of Africa.”
Financial Technologies Group operates one of the largest exchange networks, comprising 10 exchanges and six ventures which address upstream and downstream opportunities around exchanges, including clearing, depository, information vending, and payment gateway, among others.
GBOT's chairman, Venkat Chary, added, “GBOT will surely play a key role in creating a vibrant financial market ecosystem in Africa from Mauritius.”