We must learn from the past so that we can change the future! Change takes place in every field, including in the financial markets. Explaining the development of the financial system, from the Barter system up to the computerized systems of the present day, Hirander Misra explained to the audience at the TedXPanchgani event, how trading systems, commodities like gold, and marketplaces, gradually changed and evolved. He explained how a marriage of business and technology has changed the concept of financial trading. Setting up an Agricultural commodity exchange was the next step – this had the effect of eliminating the middlemen and ensuring that the farmers received the benefit of their labours. Small farmers, who were often women, were digitally empowered and saw their lives change. The Social and economic impact of small schemes can create major changes in the lives of those who are impacted by them. A Waste Exchange Scheme can bring immense change to those that generate the waste, as well as those who can recycle it. The changing ethos, with its emphasis on Social media and connectivity, is being felt not only locally, but globally as well! This fusion of the old and the new has the potential to change the world. We need to embrace change so that the world does not pass us by!

Hirander Misra is a financial wizard who is the co-founding Chairman and CEO of GMEX Group. This is a set of companies that are involved in the creation and operation of electronic exchanges and post trade infrastructure in equities, debt, FX, derivatives and commodities in both developing and developed markets through the establishment of a cohesive business and technology ecosystem. They offer sustainable and innovative solutions for the new era of global financial markets through an aligned, partnership driven approach with exchanges, clearing houses and central securities depositories. Formerly, he was the co-founder and Chief Operating Officer of Chi-X Europe Limited, and was instrumental in taking the company from concept to successful launch. When he left the company in February 2010, Chi-X Europe had grown to become the second largest equities trading venue in Europe.

This talk was given at TEDxPanchgani an event held at Ravine Hotel using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx