About
Shaping the Future of Financial Market Intermediaries with Customized Solutions
Who we are?
MCQube was set up in July 2023 after having commenced its operations as the Consulting Division of Scymes Services Private Limited. With a combined experience of over 200+ years in the global financial markets, our team brings unparalleled expertise and insight to the most complex challenges facing today's financial landscape. We are a group of former senior bankers and financial market professionals, each with deep knowledge and hands-on experience in Capital Markets, Exchanges, Commodities, Currencies and Custody & Fund Services.
Having worked with some of the world's leading financial institutions, we understand the intricacies of global markets and the ever-changing regulatory and economic environments. Our extensive experience allows us to deliver innovative solutions that are both strategic and practical, helping clients navigate risk, seize opportunities, and optimize performance.
Scymes Services Private Limited (https://scymes.com) is a KPO/BPO offering Outsourcing Solutions to BFSI Segment and specializes in BFSI Operations. Scymes is known for following strict guidelines of governance and compliance with a no-compromise policy on regulatory requirements. Our goal is to create an environment of care and performance. We promote diversity and endeavour to make the workplace an enriching nest designed for teamwork and fun. (Visit Scymes)
What we do
We are a consulting firm dedicated to helping businesses navigate complex markets and achieve sustainable growth in India, ASEAN and GCC markets.
We specialize in crafting customized solutions that meet and exceed the sophisticated requirements of businesses aiming to make their mark in the intermediation of financial markets. Our commitment to depth over breadth equips you with the strategic insights and support necessary to navigate the complexities of the financial markets confidently. Trust MCQube for a partnership that transforms challenges into opportunities, ensuring your journey through the securities markets is both successful and strategic.
Markets
At MCQube, we specialize in empowering securities Market Infrastructure and Intermediaries (MII) by developing innovative products and tailored business strategies. Our expertise extends to market structural research, policy advocacy, and comprehensive market entry strategies that tackle competitive challenges. We focus on transforming compliance hurdles into strategic opportunities and conduct detailed market scoping to identify new trends and prospects. Additionally, we emphasize market efficiency and structure research to ensure our clients remain competitive and well-informed. By leveraging in-depth market research, we help businesses navigate complexities and drive sustainable growth in this dynamic environment.
We also offer specialized services to Market Infrastructure Institutions (MIIs), including exchanges, depositories, clearing corporations, brokerages, custodians, and asset management companies. Our goal is to assist them in developing their businesses and enhancing their product and process efficiencies. To enhance customer satisfaction, we suggest implementing regular feedback loops, offering personalized services, and optimizing communication channels to better respond to client needs and concerns.
Capital
We also offer specialized services to Market Infrastructure Institutions (MIIs), including exchanges, depositories, clearing corporations, brokerages, custodians, and asset management companies. Our goal is to assist them in developing their businesses and enhancing their product and process efficiencies. To enhance customer satisfaction, we suggest implementing regular feedback loops, offering personalized services, and optimizing communication channels to better respond to client needs and concerns.
Commodities
Volatility and regulatory shifts define today’s commodity markets, making informed decision-making crucial for businesses. At MCQube, we emphasize that risk management is a comprehensive process that begins with commodity price risk measurement and culminates in reporting to the board and investors after effectively managing these risks through derivative markets. We also focus on commodity price risk management, policy advocacy, and the study of physical markets while ensuring strong connectivity with local market stakeholders. Additionally, we help build a culture of risk management and assist Market Infrastructure Institutions (MIIs) and intermediaries in product development and policy advocacy. Our cutting-edge advisory services in commodity derivatives and market development strategies are tailored to meet these needs. We work closely with stakeholders across the agriculture, metals, and energy sectors to create robust hedging frameworks and trading strategies. Whether you're a producer, trader, or institutional investor, our expertise helps you navigate commodity cycles effectively.
Currencies
Foreign exchange markets are dynamic, with global trends and policy shifts creating constant fluctuations. At MCQube, we specialize in helping corporations effectively navigate currency risks through sophisticated strategies utilizing currency derivative markets. We perform comprehensive assessments to inform risk management planning and help develop robust risk management policies. Additionally, we support stakeholders in advocating for better market conditions and improved regulations to foster efficient markets and enhance financial products for improved access to businesses and market stakeholders. Whether you're an exporter, importer, or institutional investor, our expertise ensures that you stay ahead of currency volatility.
Our Team
Mrugank Paranjape
Managing Partner
Mrugank Paranjape – Managing Partner MC3
With 34+ years in financial services, he brings extensive experience across capital markets, commodities, securities services, global markets and transaction banking. He has covered all facets of financial services – broking, asset management, asset servicing and exchanges on a Pan India and Asia Pacific level. Currently, as the Managing Partner at MCQube, he leads strategic advisory services in financial markets, helping organizations navigate complex market structures and regulatory landscapes. He also serves as an Independent Non-Executive Director at State Bank of India and Oracle Financial Services Software. His focus is on risk management, technology innovation, and sustainable finance. He is passionate about sustainability and also serve humanitarian causes at Sewa International.
Samba Sivan
Director
Samba Sivan S – Founder Director Scymes Services
30+ years in financial services, he brings extensive experience across transaction banking, securities and retail finance. Samba has delivered in country and regional roles and has worked in ASEAN markets extensively. Currently serves as a promoter director of Scymes and driving the growth journey of Scymes. has played a pivotal role to building Scymes. Very entrepreneurial in thought and action and constantly exploring avenues to add value to clients.
Richard Falcao
Director
Richard Falcao – Founder Director Scymes Services
Over 40 years in banking he brings extensive experience across commercial, transaction and retail banking. Richard has played a key role in several product evolution journeys, operational models and build teams for delivery. The operating models are still in vogue and lasted the test of time. After a very successful stint with a large MNC bank Richard is a promoter director at Scymes. Richard supports several leaders in industry in terms of consulting in domain and content specifically in areas of transaction banking, treasury and trade. Richard has a passion in giving back to community and plays a key role in rural health care.
Praveen KS
Partner Consulting
Praveen K. S. – Partner MC3
With over 34 years of experience in technology management, product delivery, and business operations across multiple industries, Praveen KS has successfully led large-scale transformations and strategic initiatives. He possesses deep expertise in technology offshoring, capital markets solutions, HR technology, and vendor management. His accomplishments include repatriating tech IP, managing global teams, and overseeing complex migrations, which have delivered significant cost savings. Notably, he has led teams through intricate transitions, such as the migration of 2,000 employees to a new technology hub, built to reach 8000+ employees and implementation of large-scale systems like Workday for global workforce planning and analytics. Beyond banking and finance, he has also worked with leading organizations like Reliance Industries, driving tech automation for retail petroleum and logistics operations.
Mrugank Paranjape – Managing Partner MC3
With 34+ years in financial services, he brings extensive experience across capital markets, commodities, securities services, global markets and transaction banking. He has covered all facets of financial services – broking, asset management, asset servicing and exchanges on a Pan India and Asia Pacific level. Currently, as the Managing Partner at MCQube, he leads strategic advisory services in financial markets, helping organizations navigate complex market structures and regulatory landscapes. He also serves as an Independent Non-Executive Director at State Bank of India and Oracle Financial Services Software. His focus is on risk management, technology innovation, and sustainable finance. He is passionate about sustainability and also serve humanitarian causes at Sewa International.
Samba Sivan S – Founder Director Scymes Services
30+ years in financial services, he brings extensive experience across transaction banking, securities and retail finance. Samba has delivered in country and regional roles and has worked in ASEAN markets extensively. Currently serves as a promoter director of Scymes and driving the growth journey of Scymes. has played a pivotal role to building Scymes. Very entrepreneurial in thought and action and constantly exploring avenues to add value to clients.
Richard Falcao – Founder Director Scymes Services
Over 40 years in banking he brings extensive experience across commercial, transaction and retail banking. Richard has played a key role in several product evolution journeys, operational models and build teams for delivery. The operating models are still in vogue and lasted the test of time. After a very successful stint with a large MNC bank Richard is a promoter director at Scymes. Richard supports several leaders in industry in terms of consulting in domain and content specifically in areas of transaction banking, treasury and trade. Richard has a passion in giving back to community and plays a key role in rural health care.
Praveen K. S. – Partner MC3
With over 34 years of experience in technology management, product delivery, and business operations across multiple industries, Praveen KS has successfully led large-scale transformations and strategic initiatives. He possesses deep expertise in technology offshoring, capital markets solutions, HR technology, and vendor management. His accomplishments include repatriating tech IP, managing global teams, and overseeing complex migrations, which have delivered significant cost savings. Notably, he has led teams through intricate transitions, such as the migration of 2,000 employees to a new technology hub, built to reach 8000+ employees and implementation of large-scale systems like Workday for global workforce planning and analytics. Beyond banking and finance, he has also worked with leading organizations like Reliance Industries, driving tech automation for retail petroleum and logistics operations.
Manoj Bhat
Partner Consulting
Manoj P. Bhat – Partner MC3
More than 25 years of leadership experience in Fund Administration and Securities Services in Asia and Middle East. In depth experience of handling diverse functional roles in Fund Administration Services such as Operations, Operations Offshoring, Product Management, Business development, System Management, and Product Risk & Compliance. As head of Fund Administration Product, implemented multiple projects for launching of new services, entering new markets, creation of offshore operations hubs, transition of processes, new clients. The role also included continuous process improvements and cost savings and operational risk management. Manoj played a pivotal role in conceptualizing and successfully launching fund administration services in 8 markets, managing over 400 member teams, and establishing Centers of Excellence.
Jacqueline Sebastian
Partner Consulting
Jacqueline William Sebastian – Partner MC3
Backed by three decades of experience within Global Transaction Banking and navigating the complexities of Securities Services, Trade Finance, and Cash Management in ASEAN. As a former Managing Director at Deutsche Bank and a Non-Independent Director on five boards, she has consistently delivered strategic growth while maintaining robust risk management frameworks. Her journey has been marked by pioneering initiatives in the banking sector, from growing a securities services portfolio exceeding USD150 billion, to successfully advocating several key regulatory changes. She is passionate in partnering with financial institutions, government bodies, and other players in financial transformation and in solving complex problems related to global transactions and financial markets. As an accredited trainer with HRDF Malaysia and the Asian Banking School, she leverages on practical experience and academic background to develop comprehensive training programs for financial institutions. Her approach combines strategic thinking with hands-on experience, whether it’s developing market entry strategies, driving regulatory changes, or mentoring future banking leaders
V Shunmugam
Partner Consulting
Dr. Venkatachalam Shanmumgam – Partner MC3
With 27 years of experience in financial markets, he has been at the forefront of regulatory policy, market research, and stakeholder engagement. His career began in the U.S., where he worked on trade policy alignment between the U.S. and India, later contributing to WTO negotiations on non-tariff barriers. As Chief Economist at MCX, he spearheaded policy reforms that linked financial markets with the real economy, boosting transparency, efficiency, and investor confidence. His expertise spans global and domestic markets, where he has driven sustainable growth, designed innovative market solutions, and mentored future industry leaders. Beyond work, he is deeply committed to financial literacy initiatives and economic development efforts that create lasting impact.
His journey isn’t just about numbers—it’s about shaping markets, policies, and institutions to drive meaningful change. Over the course of his career, which has spanned over 27 years, he has worked at the intersection of economic policy and financial markets, leading reforms that have strengthened market ecosystems. His early work with the USDA focused on resolving trade barriers between India and the U.S., and he later expanded to international regulatory consulting, including projects with the Food and Agriculture Organization/World Bank.
At MCX, he led transformative changes, including policy reforms, new products, and connecting institutional participants. He has also advised global institutions like the World Bank, guiding commodity reforms, including projects with clients such as the Chittagong and Thailand Stock Exchanges. His expertise in financial system design has helped markets evolve to meet modern growth and regulatory demands.
Passionate about mentorship, he has played a key role in developing future financial leaders and advocating sustainable economic policies. Looking ahead, he remains committed to working with policymakers, financial institutions, and global organizations to foster financial market innovation that supports inclusive and sustainable growth.
Manoj P. Bhat – Partner MC3
More than 25 years of leadership experience in Fund Administration and Securities Services in Asia and Middle East. In depth experience of handling diverse functional roles in Fund Administration Services such as Operations, Operations Offshoring, Product Management, Business development, System Management, and Product Risk & Compliance. As head of Fund Administration Product, implemented multiple projects for launching of new services, entering new markets, creation of offshore operations hubs, transition of processes, new clients. The role also included continuous process improvements and cost savings and operational risk management. Manoj played a pivotal role in conceptualizing and successfully launching fund administration services in 8 markets, managing over 400 member teams, and establishing Centers of Excellence.
Jacqueline William Sebastian – Partner MC3
Backed by three decades of experience within Global Transaction Banking and navigating the complexities of Securities Services, Trade Finance, and Cash Management in ASEAN. As a former Managing Director at Deutsche Bank and a Non-Independent Director on five boards, she has consistently delivered strategic growth while maintaining robust risk management frameworks. Her journey has been marked by pioneering initiatives in the banking sector, from growing a securities services portfolio exceeding USD150 billion, to successfully advocating several key regulatory changes. She is passionate in partnering with financial institutions, government bodies, and other players in financial transformation and in solving complex problems related to global transactions and financial markets. As an accredited trainer with HRDF Malaysia and the Asian Banking School, she leverages on practical experience and academic background to develop comprehensive training programs for financial institutions. Her approach combines strategic thinking with hands-on experience, whether it’s developing market entry strategies, driving regulatory changes, or mentoring future banking leaders
Dr. Venkatachalam Shanmumgam – Partner MC3
With 27 years of experience in financial markets, he has been at the forefront of regulatory policy, market research, and stakeholder engagement. His career began in the U.S., where he worked on trade policy alignment between the U.S. and India, later contributing to WTO negotiations on non-tariff barriers. As Chief Economist at MCX, he spearheaded policy reforms that linked financial markets with the real economy, boosting transparency, efficiency, and investor confidence. His expertise spans global and domestic markets, where he has driven sustainable growth, designed innovative market solutions, and mentored future industry leaders. Beyond work, he is deeply committed to financial literacy initiatives and economic development efforts that create lasting impact.
His journey isn’t just about numbers—it’s about shaping markets, policies, and institutions to drive meaningful change. Over the course of his career, which has spanned over 27 years, he has worked at the intersection of economic policy and financial markets, leading reforms that have strengthened market ecosystems. His early work with the USDA focused on resolving trade barriers between India and the U.S., and he later expanded to international regulatory consulting, including projects with the Food and Agriculture Organization/World Bank.
At MCX, he led transformative changes, including policy reforms, new products, and connecting institutional participants. He has also advised global institutions like the World Bank, guiding commodity reforms, including projects with clients such as the Chittagong and Thailand Stock Exchanges. His expertise in financial system design has helped markets evolve to meet modern growth and regulatory demands.
Passionate about mentorship, he has played a key role in developing future financial leaders and advocating sustainable economic policies. Looking ahead, he remains committed to working with policymakers, financial institutions, and global organizations to foster financial market innovation that supports inclusive and sustainable growth.
Our Association: TSSAG
TSSAG (The Securities Services Advisory Group) is the leading Global Association of Consulting Firms in the Securities Services space
