63 moons technologies, formerly known as Financial Technologies, on Tuesday said it will provide next-generation technology solutions to Italy-based Spuma SRL as it targets pan-European markets.
In addition, 63 moons said it will evaluate global giants in cloud computing services like Amazon’s AWS, Microsoft’s Azure and Google cloud for deploying the technology, the provider of technology solutions to financial markets said in a regulatory filing to the BSE. 63 moons provides next-generation technology ventures and solutions for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across industry segments.
The announcement comes a day after 63 moons said that it will not provide technology support to Multi Commodity Exchange (MCX) after September 30. As per the filing, Spuma SRL will leverage 63 moons’ expertise on real-time mission critical solutions, using the latest technology suite.
The company will be offering a SaaS (Software-as-a-Service) model with earnings by way of share in revenue by transaction charges and services earned by the digital ecosystem, which is its innovative model for high-growth IP monetization similar to Indian exchanges.
The company said it “would back and boost Italy-based Spuma SRL, with its next generation technology capabilities and solutions to create a digital market ecosystem for revitalised goods in the pan-Europe multi-million euro project and offering efficient and high value procurement and exchange proficiencies of revitalised goods”.
Spuma SRL will be offering these services initially from Italy, followed by extending to all the European Union countries and users of the platform. 63 moons would be offering technology support for the production, installation, and maintenance of the software application for the entire project, while the remaining operational functions will be carried out by Spuma SRL