ODIN Company

　　

Odin Company: A Comprehensive Overview

　　

1. Company Overview

　　

Founding Date and Background

　　Odin Company, primarily recognized for its trading platform, was founded in 1998. It was developed by Financial Technologies, which later rebranded as 63 Moons Technologies Limited in 2016. The platform was designed to provide comprehensive trading solutions for brokers and financial institutions in India.

　　

Parent Company/Ownership Structure

　　Odin operates under the ownership of 63 Moons Technologies Limited, a prominent trading technology provider for financial exchanges. The company was founded by Jignesh Shah, who played a significant role in establishing Indias first commodity exchange, the Multi Commodity Exchange (MCX).

　　

Headquarters Location

　　Odin's headquarters is located in India, with its primary operations based in Mumbai, Maharashtra. The company also maintains offices in various locations across the country and internationally.

　　

Global Business Scope

　　Odin offers a wide range of trading solutions and services to brokers and financial institutions not only in India but also in several other countries. The platform supports trading across multiple asset classes, including equities, commodities, and derivatives.

　　

Main Regulatory Bodies

　　Odin operates under the jurisdiction of several regulatory bodies in India, primarily the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI). However, it is important to note that the company's regulatory status has been under scrutiny due to past legal issues related to its parent company.

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2. Company History and Development

　　

Key Milestones

• 1998: Launch of the Odin trading platform.
• 2003: Establishment of the Multi Commodity Exchange (MCX) by 63 Moons.
• 2013: Legal issues arose when the National Spot Exchange Limited (NSEL), associated with 63 Moons, faced insolvency.
• 2016: Rebranding of Financial Technologies to 63 Moons Technologies Limited.

　　

Business Expansion Journey

　　Since its inception, Odin has expanded its offerings to include a variety of trading solutions. Initially focused on equities, the platform has grown to support commodities, currency derivatives, and mutual funds. The company has also ventured into providing API services for brokers, enhancing its technological capabilities.

　　

Customer Base Growth

　　Odin has seen significant growth in its customer base over the years, boasting over 1,000 clients across 400 cities in India and more than a million active users as of December 2019. However, this growth has faced challenges due to the legal and regulatory issues stemming from the parent company's past.

　　

Platform Development History

　　The Odin platform has undergone several updates and improvements since its launch. Key developments include the introduction of the Odin Diet trading application, a browser-based trading platform, and a mobile app known as Odin Wave. These innovations have helped Odin maintain its position as a leading trading platform in India.

　　

Important Awards or Recognitions Received

　　While specific awards are not extensively documented, Odin's platform has been recognized for its stability and comprehensive trading solutions, making it a preferred choice among traditional stockbrokers in India.

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3. Trading Services Offered

　　

Forex Trading Options

　　Odin provides access to a range of forex trading options, allowing users to trade in multiple currency pairs. The platform supports trading in major, minor, and exotic currency pairs, catering to a diverse clientele.

　　

Stock Trading Options

　　Odin facilitates trading in various stock segments, including cash, futures, and options on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This extensive offering allows traders to engage in both intraday and delivery-based trading.

　　

CFD Trading Products

　　The platform also offers Contracts for Difference (CFDs) across various asset classes. This enables traders to speculate on price movements without owning the underlying asset, providing flexibility in trading strategies.

　　

Other Financial Instruments

　　In addition to forex and stock trading, Odin supports trading in commodities and mutual funds. The platform has integrated features for online IPO applications, making it a comprehensive trading solution.

　　

Special Services or Unique Advantages

　　Odin's unique advantages include its integrated risk management and order management systems, which enhance trading efficiency. Additionally, its API offerings allow brokers to develop customized solutions tailored to their needs.

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4. Regulatory and Legal Background

　　

Detailed Regulatory Information

　　Odin operates under the oversight of several regulatory bodies:

• Securities and Exchange Board of India (SEBI)
• Reserve Bank of India (RBI)

　　Despite this oversight, the company has faced challenges due to the insolvency of NSEL, leading to increased scrutiny.

　　

Legal Entity Structure by Region

　　Odin's legal entity structure is primarily based in India, with its operations governed by Indian laws. The company has faced legal challenges in the past, particularly related to its parent companys financial issues.

　　

Client Fund Protection Measures

　　Odin implements various measures to protect client funds, including segregated accounts and adherence to regulatory guidelines. However, the lack of a robust regulatory framework has raised concerns among users regarding fund safety.

　　

Countries/Regions Served

　　Odin primarily serves clients in India but has expanded its reach to include international markets, providing trading solutions to brokers and financial institutions in various countries.

　　

Compliance History

　　Odin‘s compliance history has been marred by the legal issues faced by its parent company. The insolvency of NSEL and subsequent legal actions have impacted the perception of Odin’s regulatory compliance.

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5. Competitive Landscape

　　

3-5 Main Competitors

　　Odin faces competition from several key players in the trading technology space, including:

• Zerodha: A leading discount broker in India known for its user-friendly platform and low-cost trading.
• Upstox: Another popular trading platform that offers competitive pricing and a robust mobile app.
• Angel Broking: A traditional brokerage firm that has transitioned to digital services, offering a comprehensive trading platform.

　　

Positioning in the Industry

　　Odin has positioned itself as a comprehensive trading solution provider, catering primarily to traditional stockbrokers and financial institutions. Its long-standing presence in the market has contributed to its reputation as a reliable trading platform.

　　

Market Differentiation Factors

　　Odin differentiates itself through its integrated trading solutions, including risk management and order management systems. The platforms ability to support multiple asset classes from a single interface is a significant advantage over some competitors.

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　　In summary, Odin Company has established itself as a significant player in the trading technology landscape, offering a wide range of trading services and solutions. Despite facing regulatory challenges, the platform continues to evolve and adapt to the needs of its users. For more information about Odin Company and its services, learn more.