�������������

�������������

�������������

VISION - MARKET FOR MASSES

� The modern tech-centric financial markets are the new electronic trade

routes, similar to silk and spice routes centuries ago that are democratizing

global trade and economies by creating inclusive and equitable growth

through propagation of transparent price discovery, efficient trade

execution, effective risk management, insurance against price volatility, and

access to structured finance.

� The business of creating and operating new generation tech centric

financial markets allows us not only to build unprecedented shareholder

value through a non-linear business model - but in the process also

transform economies, empower the common man and change lives.

� Markets are proxy to the growth of any region and the barometer of the

economy. In an increasingly globalizing world, markets have become ‘hubs’

of trade and commerce. Financial Technologies creates and operates these

new hubs connecting some of the fastest growing regions from Africa to

Asia.

Excerpts from Letter To Shareholder - Annual Report 2007-08

- Jignesh Shah, Chairman & Group CEO

�������������

������������ ���������������

��� � � � � � � ���������� �� � � �� � � �������� ��

� Global leader in creating &operating financial markets in Greenfield region of Africa to Asia

� 10 exchanges network and 6 ecosystem (74 million contracts traded with US$ 5+ billion average daily turnover on MCX & DGCX)

� 320,000+ trading terminal network with 80%-90% market share (2008, Frost & Sullivan) -1670+ million contracts traded on NSE, BSE & MCX in FY 08)

LEADERSHIP

GROWTH � Revenue - 243% (from Rs.34 cr to Rs. 1348 cr)

� EBITDA - 344% (from Rs. 14 cr to Rs. 1255 cr)

� Net Profit - 359% (from Rs. 10 cr to Rs. 961 cr)

� Diluted EPS - 352% (from Rs. 2.3 to Rs. 208.1)

� Dividend - 268% (from Rs. 0.4 to Rs.20)

CAGR for FY 2005-08The financials depicted above are standalone number

� Rs. 100 invested on Mar 31, 2003 would be worth Rs. 5118 as on Dec 31, 2008

� Cash Surplus of Rs. 1200 crore approx. including Bank FDs and Debt Mutual FundsLIQUIDITY POSITION

� 3000+ employees in FT Group with global presence in over 25 countriesHUMAN CAPITAL

� 63% of the total staff in FTIL consists of engineers & experts

CORPORATE OVERVIEW (contd..)

�������������

CORPORATE OVERVIEW (contd..)

UNPARALLELED COMPETITIVE EDGE

� Deep Domain Expertise : Super specialization in creating & operating markets +

� Technology IP : Lower opex & capex to build & manage Next gen markets +

� Non-linear Business Model : Transaction revenues & licensing revenues +

� First Mover advantage : Only company to set up 10 exchanges from Africa to Asia

SCALABLE OPERATING MODEL

� Perpetual, recurring and self fueling revenue model and annuity based revenue model

� High operating leverage resulting in average EBITDA margins of 62% over last 4 years

� Leveraging technology & operational synergies to create Economies of Scale for pre-trade, trade & post-trade operations

� Network effect in building liquidity & driving increased transaction volumes

RETURNS FOR SHAREHOLDERS

� EPS - 913% � ROCE - 67%

� Book Value - 611% � RONW - 84%

� Dividend - 150%For FY 2007 - 08Growth Y-o-Y 2007- 08 The financials depicted above are standalone number

GOVERNANCE Independent world class board includes:� P. G Kakodkar� Venkat Chary, Retired IAS� Narayanan Vaghul� Dr. S. Narayan

� G. N. Bajpai� Kiran Karnik� Ang Swee Tian� Myron Scholes

�������������

FINANCIAL GROWTH (STANDALONE)

* Standalone Total Income = Technology business revenue + Project divestment income + Other income� Financial Year : April - March� CAGR is calculated for FY 05-08

TOTAL INCOME*(CAGR: 243%) Rs. crore EBITDA (CAGR: 344%) Rs. crore

NET PROFIT (CAGR: 359%) Rs. crore Diluted EPS (CAGR: 352%) Rs./Share

�������������

FINANCIAL GROWTH (CONSOLIDATED)

� MCX has ceased to be a subsidiary of Financial Technologies w.e.f. October 29, 2007, the consolidated financial results for the year ended March 31, 2008 are not comparable with the consolidated financial figures of the previous year.

� Consolidated Revenue = Technology revenue + Exchange revenue + Ecosystem revenue + Other Income � Financial Year : April – March

TOTAL INCOME (CAGR: 183%) Rs. crore EBITDA (CAGR: 227%) Rs. crore

NET PROFIT (CAGR: 236%) Rs. crore Diluted EPS (CAGR: 240%) Rs./Share

�������������

BUSINESS OVERVIEW

MESSAGING SOLUTIONSEXCHANGE SOLUTIONS BROKERAGE SOLUTIONS

Back OfficeFront OfficeBack OfficeFront Office

EXCHANGEBUSINESS

ECOSYSTEM BUSINESS

COMMODITY MULTI-ASSET DERIVATIVES

ENERGY

KNOWLEDGE TRANNING

CREDIT RISK MANAGEMENT

TRANSACTION PROCESSING

INFORMATION RETAIL

EQUITY & FX DERIVATIVE

TECHNOLOGY BUSINESS

DEPOSITORY

�������������

EVOLUTION

2002 2004 2004 2006 2006 20081995 2002

PRODUCTS

EXCHANGES

ECOSYSTEMS

EXCHANGE

NETWORKS

� MCX kicks off live operations with DOME as the training platform

� 10000+ ODIN™Terminals installed.

� DGCX launched in Dubai

� NBHC launched as warehousing support to MCX

� GBOT announced in Mauritius

� SMX announced in Singapore

� MCX-SX commences operations

� IEX starts operations

� Bourse Africa announced in Africa

� 320,000 ODIN™terminals installed

� DMA and Connectivity services introduced

� Introduced Country's first Derivatives trading platform.

� ODIN™ goes live on NSE.

�������������

BUSINESS HIGHLIGHTS

TECHNOLOGY �SOLUTIONS OVERVIEW

SOLUTOIN PORTFOLIO GROWTH DRIVERS

EX

CH

AN

GE

BR

OK

ER

AG

EM

ES

SA

GIN

G

� Existing exchanges - revenue

from new products

� New exchanges- NSEL, IEX,

SMX & others

� Robust trading terminal growth

� As equity market penetration is

only 3-5%

� Cascading / force multiplier

effect coupled with trading

licenses growth

� STP-GateTM : Market leading Secure

Transaction Processing Gateway to

provide seamless STP infrastructure

services

� FTNET: First of a kind SaaS based Global

Connectivity solution for Indian market

participants

� DOME – No.1 in price / volume proposition

for integrated turnkey out of box solutions

for exchanges globally

� Powering more than 5 global exchange

including MCX and DGCX

� ODIN™: Largest financial network

distribution in India with over 320,000

trading licenses and 880 brokerage houses

� Access to over top 8 segments, 1,000

institutions & brokerage clients, top 30

banks and top 1,900 clearing member base

� Congenial Regulatory

environment for investment

across the national boundaries

� Need for reduced cost per

transaction to enhanced

participation across the investor

classes

�������������

TECHNOLOGY �SOLUTIONS ARCHITECTURE

EXCHANGE SOLUTIONS BROKERAGE SOLUTIONS

�������������

TECHNOLOGY �SOLUTIONS CUSTOMERS

BROKERAGE SOLUTIONS

MESSAGING SOLUTIONS

CONSULTING SERVICE

EXCHANGE SOLUTIONS

�������������

TECHNOLOGY �SOLUTIONS �EXCHANGES OVERVIEW

MULTI-ASSET

ASIA

� State-of-the-art electronic trading platform for

trading commodity & currency derivatives

contracts based out of Singapore catering to

Asian time zone between Tokyo and London

� Closely linked with major commodity trading

centers like Tokyo, London, New York and

Chicago

MIDDLE EAST

MULTI-ASSET

ENERGY

COMMODITY

EQUITY & FX DERIVATIVE

INDIA

� 5 exchanges in India with leadership in

Commodities, Energy and Currencies

Derivatives

� MCX- Ranked 8th amongst the global commodity

exchanges

� Marquee Global investors - Fidelity, Passport

Capital, IP Morgan , HSBC

� 10 International Alliances

� Diverse and vibrant markets participant

community - 1,900+ members in India, 200+

global institutions, 30+banks

� US$ 3.52 billion daily average turnover on MCX

MULTI-ASSET

AFRICA

� Global Board of Trade Ltd. (GBOT), -

the first pan-Asian derivatives exchange

based out of Mauritius

� Bourse Africa - pan-Africa spot and / or

derivatives multi asset exchange based

out of Botswana, that will connect all

the major countries in Africa through a

hub and spoke model

� Leading Commodities $ Currencies

Derivatives Exchange and the only

international currency exchange in

Middle East

� 1st international exchange in a free

trade zone with a 50-year tax holiday

�������������

TECHNOLOGY �SOLUTIONS �EXCHANGES ALLIANCES*

* - Partial Alliance List

EXCHANGE & ECO-SYSTEM VENTURES

GLOBAL ALLIANCES OF MCX

�������������

TECHNOLOGY �SOLUTIONS �EXCHANGES �ECOSYSTEMS

KNOWLEDGE TRANNING

TRANSACTION PROCESSING

DEPOSITORY

INFORMATION RETAIL

� TickerPlant provides a price performance

service to address middle of the pyramid market

at competitive price

� Precious key accounts like Axis Bank, IDBI,

DCB, Times of India, GE Shipping, Thomas

Cook & TATA Communications added

� #1 payment processing company enabling 'any

transaction on mobile‘

� Total value of transactions handled by atom

Paybuzz was Rs. 817 million as of September

30, 2008

� Depository business for facilitating structured

credit (trade finance) against commodities from

banks

� #1Indian Warehousing and Commodity

Management solution provider in India

� Pioneer in providing education and training

in financial markets

� Short and Long term training programmes

offered nationwide.

CMSL

� India’s First and leading provider for

creation of developed credit market by

creation of best market practices

� Best in class advisory services in the areas

centered around the credit market

�������������

FT GROUP �LEADERSHIP

Sol

utio

n O

fferin

g

Single Asset Multi - Asset

Sin

gle

Sol

utio

n

End

-to-e

nd

solu

tions

Lack of leadership in either of the aspects

Dependent on clients for Business knowledge and related innovation

Dependent on tech firms for innovation and support

Leadership in technology and domain for exchange creation & operation

Technology

MarketsDomain

expertise

�������������

FT GROUP �VALUE

MARKETS FOR MASSES

Growth

� Revenue - 253% (from US$ 8 million to US$ 337 million)

� EBITDA - 357% (from US$ 3 million to US$ 314 million)

� Net Profit - 374% (from US$ 2 million to US$ 241 million)

Shareholder return

� Earning Per Share - 365% (from US$ 0.05 to US$ 5.21)

� Dividend - 280% (from US$ 0.009 to US$ 0.5)

� 3rd most profitable company for FY 2007-08– Business World

Organizational Values

� Organization driven by Innovation and Value creation at the core

Diversified Growth Opportunities

� Opportunity to build expertise on domain and / or technology as well as both

Visionary Leadership

� Leadership Team and the Advisory Board consisting of Industry stalwarts bringing in years of knowledge and expertise

Technology

� Price-Value leadership leveraging economies of scale

� Time and Cost advantage with minimized Time-to-market and optimized TCO

Products

� End-to-end solution offerings for all market participants

Service

� Exemplary service standards with 24*7 support to all the customers

EMPLOYEES PARTNERS

INVESTORSCUSTOMERS

Opportunities

� Cross Product listing

� Cross Margining

� Development of Joint products and indices for Asian, Africa and middle eastern markets

� Joint research, education and awareness programs

� Product distribution

� Super clearing

�������������

FT GROUP � COMMUNITY

LARGEST ONLINE PLATFORM DEDICATED TO FINANCIAL MARKETS COMMUNITY FOR COLLABORATION & INNOVATION

One- stop-shop for all information on Financial Markets

One click access to third party neutral outlook on Financial Technologies

Community platform for financial markets

Online Comprehensive Toolkit for markets

Online video sharing tool focused on Financial markets

Platform to gauge your market expertise

Online research library for financial markets

Niche Blogging platform for financial markets

A web organizer to interact with the FT Leadership

Innovation and brain storming platform for financial markets

�������������

FT GROUP � CSO INITIATIVES

M S Swaminathan Research Foundation Partnership with MSSRF to educate about futures trading in agricultural commodities

Project PragatiPartnership with Rotary International Club to empower underprivileged with education and awareness

Gramin Suvidha Kendra (GSK)For dissemination of market information, warehousing, advisory and agri-input needs of farmers. GSK: 7 centres, 4 states, 529 villages, 70 branch post offices, 3442 farmers

Jaago ReMovement launched for bringing about voting right awareness

Khushi ki KiranMaking difference in the lives of the under privileged by volunteering for community service

Mouth and Foot Painting Artists (MPFA)To provide exposure and publicity to MPFA through various mediums such as corporate gifts, calendars and events

MOU with Indian Oil CorporationCommodity price dissemination in rural part of India through their petrol pumps kiosks

JagrutIn house peer education movement for HIV/AIDS awareness

HEALTH AND SAFETY COMMUNITY INVESTMENTEDUCATION

�������������

FTKMC � TRAINING , EDUCATION

ALLIANCES RESEARCH

CONSULTANCY TRAINING

� Customized risk management solutions

� Setting up of commodity desks for trading and

hedging

� Developing valuation models for various

commodities and other financial derivatives

� Sector Specific research

� Development of rules and regulations for

organized markets

� Setting up of Global Knowledge Centres

� Diploma in Commodities Market (DICM)

� Equity Market Operations

� Commodity Futures and Options: Trading

Strategies

� Fundamentals & Trading Strategies in Debt

Markets

� Financial Planning & Wealth Management

� Farmers' Awareness Programme

� Programme on Emissions Trading

� Fundamentals & Trading Strategies in Debt

Markets

� Domestic

� All the leading management institutes

including IIMs, Symbiosis , TERI

� International

� The Institute for Financial Markets (IFM), Washington, DC, USA

� Centre for Organized Markets, Mauritius

� S.P. Jain Centre of Management (Dubai & Singapore)

� Securities & Investment Institute, London, UK

� Applied market research, survey, and study at

regional, national, and international level.

� Publications include MCCP Reference Material,

An Insight into the Commodity Derivative

Markets, manuals on base metals, gold,

electricity

�������������

ALLIANCES RESEARCH AREAS

OVERVIEW PUBLICATIONS

� Commodity Vision - a quarterly semi-academic

journal published by TAER

� Back to the Future: The Roots of Commodity

Trade in India

� Agro-Commodity Futures in India: Impact on

Production and Prices

� Readings In Futures Market

� Price Risk Management in Cotton

� Domestic

� All the leading management institutes

including IIMs, Symbiosis , TERI

� University of Mumbai

� Carbonyatra.com

� International

� UNCTAD-India

� Vaxjo University, Sweden

� Swedish Research Council FORMAS

� Research based consultancy solutions for

Corporates and Institutions

� Impact of changes in market systems,

practices, and policies on economic growth and

welfare

� Influence of regulations and other measures,

fiscal and others, on markets

� Dissemination of research through seminars,

workshops, conferences, and policy briefings

� Independent academic group undertaking

economic research, offering research-based

consultancy and bringing out publications

� Think tank in the world of economic, social, and

policy research. With a focus on the market

economics in the emerging sustainable

development paradigm

TAER � RESEARCH

�������������

FT GROUP � INDUSTRY RECOGNITION & PARTNERSHIPS

NASSCOM Innovation Award 2007

Founder Member – “Community Of Global Growth Companies” World Economic Forum

IT People Award for Product Innovation: Exchange and Brokerage Products

Employer Branding Award 2007

Ranked 158th in ET- 500 rankings

Ranked No 6 in the BW Real 500

INTERNATIONAL PARTNERSHIPS*

NATIONAL PARTNERSHIPS*

* - Few alliances under process/renewal

INDUSTRY RECOGNITION

�������������

� Adherence & compliance with Clause 49 of Listing Agreement

CORPORATE GOVERNANCE STANDARDS

� CG Policy – Encompasses – transparency, accountability, trusteeship, ethical corporate citizenship and management responsibilities and Insider Trading Dealing Code to comply with the Insider Trading Regulations issued by SEBI.

� Audit Committee - Provides assurance on the adequacy of the internal control systems and financial disclosure & has a formal Risk Management Framework

ADVISORY BOARD

� Highly accomplished and acclaimed industry leaders with rich and diverse wealth of experience from managing MNC to exchange regulators, bureaucrats, advising GOI

COMMITTEES � Committees consisting of world-class professionals representing an appropriate and diverse mix of skills and experience committees

� Audit Committee (Chairman- Ashish Dalal)

� Remuneration and Compensation committee (Chairman- C.Subramaniam)

� Shareholders’/Investor Grievance & Share Transfer Committee (Chairman- C.Subramaniam)

BOARD � Globally recognized leaders from technology and financial market space

INFORMATION SHARING & DISCLOSURE

� 1800 229666- 24 hrs toll free phone and fax facility for uninterrupted investor interaction

� Financial Downloads - 5 year overview of both standalone and consolidated business, Quarterly financials and annual report

� My FT - Facility to customize the dashboard and subscribe to SMS & e-mail alerts

� Detailed section in the website on Corporate Governance section

� Participation in all financial market related investor events and conferences

FT GROUP � CORPORATE GOVERNANCE

�������������

FT GROUP � INVESTORS

*As on September 30, 2008** 1 GDR = 7 Shares

MAJOR SHAREHOLDERS (FII)*

������������

� ��� � � ��� � �� ��� � �

� ��� � � ��� � �� ������ ��� �

� � � � �� �� � ���� ���� ������

���� ! ��� �� � ������" � ������ �� ����

# ����$ �� �� ����� � � � �

# ���� � �� � �� ����� ��� ��

% � � � �� � ����

&� �" � � $ �% �����" $ �� ��

� � % " ���

No. of shares (million)

� � � � � ��� � '(

�������� ���)* + �+ , - '*

. � � / '

. 0 � 1 � 2 �3

. ��� ( *

. " � ������4 �� 5 � 2 �6

�� � � � � �� �� !� �� " ��# � !�$ ��% � � � & '

� � ��� ���� 7��8 �����! �� � ���'�� �� ��! ��

�������������

FINANCIAL TECHNOLOGIES � LEADERSHIP TEAM

DEWANG NERALLA� Director – Technology� Formerly Deputy Manager, Trading Technology

Division, BSE� Extensive training in exchange automation

technologies with Tandem Corporation (USA)

ARSHAD KHAN� Director – Business Development - MENA� Post Graduate Diploma in Business

Administration� A functional expert in the transaction processing

domain

MANJAY SHAH� Director – Business Development� Responsible for Marketing and Business

Development in Retail & Institutional segments

� Electrical Engineer

MITEN MEHTA� Director – Communications & Investor Relations� Worked with two Fortune 500 companies in the

USA� Held several senior management positions with

MobileMedia, MoConDi, InfoSpace, eComLive, Qualcomm and Uunet

JIGNESH SHAH� Chairman and Group CEO� Innovator of modern financial markets through PPP

model� Founder of MCX – World’s 8th largest commodity

futures exchange. Also DGCX, GBOT, IEX & SMX among others.

� Ranked among the Top 30 international financial technology innovators

SHREEKANT JAVALGEKAR� Director – Finance� Formerly India Advisor, NexGen Fin. Sol., Singapore� Formerly MD, Lazard India, Ex- Advisor, Lazard Birla

Fund� Formerly L&T, Crompton Greaves & Toyo

Engineering

PARAS AJMERA� Director – Operations and HR� 13 years exp. in equities and derivatives market,

domain knowledge of the stock market operations, and derivative operations at NSE and BSE

V HARIHARAN� Director – Strategy� Formerly Group Head, NSE.IT, Formerly assistant

vice president, NSE� Formerly Deputy General Manager, BSE� More than 25 years of IT Experience

�������������

ANJANI SINHA� MD & CEO - NSEL� 14 years experience in heading stock and

commodity exchanges� A chartered accountant, law graduate, MBA and

master of Economics and Commerce

ANIL CHOUDHARY� MD & CEO, NBHC� More than 23 years experience in Banking and

Business Management� Nominated by CII on its National Council on

Agriculture

MALCOLM WALL MORRIS� CEO, DGCX� Over 14 years experience in commodity

derivatives market� Former Head of Business Development,

Commodity Products at Liffe the derivatives business of NYSE Euronext

FRAMROZE POCHARA� Director, SMX� Former Vice President – Operations, NSE� Key role in the transition from physical to electronic

settlement at NSE

LAMON RUTTEN� JMD, MCX� Previously served as the Chief Finance,

UNCTAD� Member of the World Bank’s International Task

Force for Commodity Risk Management

JOSEPH MASSEY� MD & CEO, MCX � Former MD of Interconnected Stock Exchange of

India� Over 20 Years of experience with LIC RBI, SHCIL

and Vadodara Stock Exchange

LINUS KOH� President & COO, SMX� Former Executive Vice President at SGX� Council member of Singapore Institute of

International Affairs� Former member on Advisory Board of the

Centre for Financial Engineering at National University of Singapore

FT GROUP � GROUP LEADERSHIP TEAM

U. VENKATARAMAN� Chief Executive Officer, MCX-SX� Former Head of Treasury at IDBI Bank� Certified Associate of Indian Institute of

Banking and Finance

�������������

Dr. BANDI RAM PRASAD� President - FTKMC� 25 years of professional experience banking and

securities markets� Ex-Chief Economist - Indian Banks’ Association,

ex-Chief GM and Ex-Chief Knowledge Officer -Bombay Stock Exchange Ltd, Principal Consultant –D&B Information Services India Pvt. Ltd

FT GROUP � GROUP LEADERSHIP TEAM

GANESH RAO� CEO, IBS Forex� Over 25 years of experience in the banking industry

most of which in the area of foreign exchange trading

� A graduate in Commerce from the University of Mysore and a post graduate qualification in Banking

RAVI SHANKAR NATARAJAN� CEO, SNX� Over 25 years of diverse and rich experience

in Agri businesses in India and Africa� MBA from IIM(A) and MSC (Agri)

JOSEPH BOSCO� DMD & COO, GBOT� Former MD & CEO of OTCEI� Headed the Membership, Listings, Inspection and

Corporate communications departments at NSEIL & established the legal and compliance departments at ICICI securities

D. RAVISHANKAR� MD & CEO, CMSL� Over 25 years work experience in the BFSI

segment� Ex-MD, Risk Solutions, Asia Pacific, S&P� Ex- Executive Director of CRISIL Ltd.

JAYANT DEO� MD & CEO, IEX� Founding executive member of South Asian

Federation of Exchanges� Member of Maharashtra Electricity Regulatory

Commission (MERC)� Chairman of Energy sub-committee of

Maharashtra Chamber of Commerce & Industries and Agriculture

�������������

CHRIS GOROMONZI� Founding Executive Director, Bourse Africa� Established the Venture Capital Company of

Zimbabwe (VCCZ)

FT GROUP � GROUP LEADERSHIP TEAM

JOHN MATHIAS CBO, SMX� Chief Business Officer� Former Director of Financial F&O of Merrill

Lynch� Former Board Member of the SFOA and FOA,

London� Member of the editorial board of FIA

VEPA KAMESAM� Director – MCX-SX� Former Deputy Governor of RBI� Managing Director of Institute of Insurance and Risk

Management, Hyderabad

C.M. MANIAR� Director – MCX-SX� Director-MCX� Senior Partner in Crawford Bayley & Co

S.S.THAKUR� Director – MCX-SX� Former Controller of Foreign Exchange, RBI� Chairman of Central Depository

Services (India) Ltd.

B.D. SUMITRA� Director – MCX-SX� Former Managing Director, CCIL � Former Deputy Managing Director, SBI� Advisor to the Indian Banks Association, Mumbai

�������������

FT GROUP � GROUP BOARD / ADVISORY BOARD

G. N. BAJPAI� Member – Advisory Board, FTIL� Former SEBI Chairman� Former Chairman of LIC of India

DR. S. NARAYAN� Member – Advisory Board, FTIL� Former Economic Advisor to PM� Former Finance Secretary – Government of

India,.

NARAYANAN VAGHUL � Chairman - Independent Advisory Board � Chairman ICICI Bank,� Ex CEO of ICICI

MYRON SCHOLES� Member- Advisory Board, SMX� Winner of Nobel Memorial Prize in Economics,

1997,for the Black-Scholes pricing model.

KIRAN KARNIK� Member – Advisory Board, FTIL� Former President of NASSCOM� Former Senior Member of ISRO

ANG SWEE TIAN� Chairman, SMX� Former President of Singapore Exchange (SGX).� Established SGX AsiaClear.� Served in Monetary Authority of Singapore.

P. G KAKODKAR� Board of Director - FTIL & MCX� Advisor to Societe Generale, India.� Former Chairman of SBI.

VENKAT CHARY, IAS� Chairman - MCX� Ex-Chairman, FMC� Ex-Secretary to the Chief Minister of

Maharashtra� Ex-Vice Chairman, Maharashtra State Road

Transport Corporation

�������������

FT GROUP � GROUP BOARD / ADVISORY BOARD

A.V.RAJWADE� Member- Advisory Board, MCX-SX� ndependent consultant in foreign exchange and

interest rate risk management� Provided advisory services on treasury -related

issues to various well-known banks and financial institutions

JAMAL MECKLAI� Member- Advisory Board, MCX-SX� CEO of Mecklai Financial� A leading name in foreign exchange risk

management in the world� Prominent authority in market risk

management in India

NARESH DESHPANDE� Member- Advisory Board, MCX-SX� Former Principal Legal Advisor, RBI� Served as an “International Resource Person” on

legal and regulatory frameworks for financial sector reforms in Africa