Financial Technologies India

Financial Tech to acquire 90% stake in ACE Group

Financial Technologies India Ltd has informed that it has inked a pact with the aim to take over 90 percent stake in ACE Group for a consideration of USD 22.5 million.

ACE Group is an international Credit Support Organization providing third party Asset Management, Quality Assurance and Inspection Services. 

ACE is acknowledged by most of the worldwide financial institutions for the Quality of its Collateral Management Services, especially for the Credit Support Financing of traditional crops. 

Financial Technologies To Launch MCX - SX

Financial Technologies India has informed that MCX Stock Exchange (MCX - SX) will be flagged off on Oct. 06, 2008.

According to the sources, MCX Stock Exchange has bagged necessary sanctions from SEBI and RBI for the roll out of exchange traded currency derivatives segment 

Shares of the company declined Rs 27.35, or 2.56%, to settle at Rs 1,041. The total volume of shares traded was 25,464 at the BSE (Friday).