Zero hurdles, all gains: Shoonya's revolutionary approach to trading in India | Interview
Shoonya pioneers a 'True Zero Trading Platform' in India, revolutionising investing with no brokerage fees, making it accessible and affordable for all.
Highlights
- Shoonya by Finvasia offers trading
- The venture was founded in 2013
- Sarvjeet Virk and Tajinder Virk co-founded the fintech platform
Amidst the growing interest in diverse investment avenues among the Indian populace, a subset of individuals remains intrigued by optimizing their investment strategies. With an abundance of investment options available, many are exploring multi-asset trading as a means to diversify their investment portfolios.
Shoonya, a multi-asset trading platform developed by Finvasia, has taken proactive steps to introduce novel opportunities for investors, aiming to maximize their returns. One notable approach has been the incorporation of 'smart trading' technology powered by artificial intelligence.
Additionally, Shoonya has revolutionised the investment landscape by offering 'Zero-fee' trading, thereby minimizing costs for investors. This initiative by Shoonya not only opens doors to diversified investment portfolios but also underscores their commitment to empowering investors with cutting-edge tools while minimizing financial barriers.
Web3cafe had the exclusive opportunity to sit down with the founders of Shoonya, Sarvjeet Virk (MD) and Tajinder Virk (CEO), ex-Wall Street professionals and visionaries behind this innovative venture. The heart of their disruption lies in the claim of being a 'True Zero Trading Platform,' eliminating brokerage fees, clearing charges, account opening fees, and AMC fees. But what technological innovations make this bold claim a reality?
Could you explain the technology behind Shoonya's claim of being a 'True Zero Trading Platform'? What specific technological innovations have allowed you to offer zero brokerage, zero clearing, zero account opening, and zero AMC fees?
Shoonya is transforming how people trade in India. Since the inception of Shoonya, we have focused on providing traders with low-cost solutions by deploying advanced technologies and democratising trading to encourage more people to participate in the capital markets. Leading the disruption in the Indian trading landscape with our Zero Commission trading model, we have generated a positive impact for investors with customer experience at the core of our operations.
Our Zero-Commission model eliminates brokerage fees across a multitude of services from opening an account to even doing away with clearing charges. Our platform has no hidden costs as well l which otherwise negatively impact the profitability of traders or investors. Cumulatively there are 16 services for which we have ‘zero charges’ when benchmarked against our competitors, which makes us a ‘true zero trading’ platform.
It has enabled us to make investing easy and affordable for everyone, regardless of their level of experience or to the amount in which they wish to invest. Our unique approach has not only brought in a lot of users but has also given many people the confidence to join the financial markets, making trading accessible to more people than ever before. We've been pioneers in technology by introducing the first AI-powered analytical tool in the industry and addressing major customer pain points.
The trading tools help traders save time spent on research and make smart trading decisions as they can predict market movements and improve their portfolio's performance. This tool helps traders manage risks and exposures, understand market volatility, and optimise the balance between risk and reward for effective strategies, saving them valuable research time.
The AI-powered trading platform at Shoonya has achieved an impressive average accuracy rate in market trend predictions. Can you provide insights into the technology and algorithms that power these predictions? What data sources and machine learning techniques are involved?
Shoonya has achieved an impressive accuracy rate in market trend analysis based on signals on the back of the 'I Know First' algorithm. The algorithm's core technology relies on artificial intelligence and machine learning, integrating components from artificial neural networks and genetic algorithms. It empowers us to scrutinise, simulate, and forecast stock market behaviour.
Notably, this algorithm is flexible and can grow with demand, boasting a Decision Support System (DSS) to enhance the insights derived from years of data input. This algorithm produces daily forecasts for various financial assets, including stocks, commodities, ETFs, interest rates, currencies, and global indices. It provides signals for various time frames, spanning short, medium, and long-term horizons.
With the association with I Know First, how does the integration of their technology enhance the decision-making capabilities of traders on Shoonya's platform? Are there any unique features or tools that result from this collaboration?
Shoonya is committed to advancing the Indian trading landscape through its innovative and user-friendly trading platform. The association with 'I Know First' aligns perfectly with our strategy to ensure a seamless trading experience for our users. This partnership aims to assist Shoonya’s customers in optimising their portfolio performance and making informed investment decisions.
The AI-powered insights are derived from predictive analysis of 1,500 Indian stocks, built upon extensive historical research. Features like AI-generated Colour-Coded Signals, Instant Heatmaps, Wave Trend Prediction, and Performance Signals open the doors to sophisticated market analysis for modern traders and investors. Traditionally, only institutional investors, hedge funds or extremely seasoned professionals with ample resources had access to such in-depth insights.
However, AI-driven tools like I Know First are simplifying access to predictive analysis and data-backed insights, thereby enhancing trading strategies and improving their success rates.
In terms of technology and scalability, what market potential is Shoonya aiming for in the coming years, especially looking ahead to 2024? Are there any technological advancements or product developments in the pipeline to achieve these goals?
As of September 2023, India boasts an impressive 120 crore internet users, 8 crore stock market investors and 3.5 crore mutual fund investors. All internet users are our potential customers because if people are using e-commerce platforms, then they can carry out transactions on a tech platform/app and are eligible to be an investor.
So, we will focus a lot of our energies on the New to Trading (NTT) segment while we continue to direct our efforts toward individuals from beginners and passive investors to active traders, day traders, and long-term investors. Our Zero Commission approach, combined with our customer-centric philosophy, is democratising investment access, enabling people of all backgrounds to engage in the financial markets confidently.
Technologies like AI and ML are the driving forces behind the growth of the Indian stock market, and we play a pivotal role in facilitating this growth through our technological advancements.
