History of ATMA
The Association of Technical Market Analysts (ATMA) obtained a registration on 7th January 2010 with the Registrar of Societies at Mumbai under the Societies Registration Act, 1860 and under the Bombay Public Trusts Act, 1950 on the 22nd April 2010. There have been 8 Charter or Founder Members who signed the Registration Documents, but the key driving force behind bringing this initiative to reality over a span of six years is considered to be Sushil Kedia who is the Founder President. Several "names" in the profession came in to contribute, the texture and compositions of the fledgling teams continued to evolve and change, yet the spirit to establish an Association of Technical Analysts in India with the highest standards continued to strengthen and mature.
As early as first quarter of 2008, many impassioned Technical Analysts in Mumbai were meeting often at the Relish Restaurant at the Nariman Point to organize a Professional Association of Technical Analysts. Many meetings across Nariman Point at the Status Restaurant, at the Tea Centre in Churchgate, at the various Coffee Shops in Lower Parel, Bandra and Juhu culminated finally in bringing by a resolve to continue to progress with the support of a key global partner, the Market Technicians Association, USA.
Way back in late 2004 a meeting that happened between Mr. Jordan Kotick, the then President of the MTA and Sushil Kedia sowed the seeds of a fruiting tree that has come to become the ATMA today. In this meeting, Sushil had to submit simply that none including the MTA may ignore the growth that is building up ahead in India. The essence of this meeting could be found in an article published in the monthly newsletter of the MTA, the Technically Speaking of June 2005, page 9.
With the growing support and interest of the MTA in India, already India has emerged to be the fastest growing territory for the MTA and the second largest number of members of the MTA anywhere in the world outside the USA are already from India.
Several efforts at establishing a professionally managed society of Technical Analysts in India over the last fifteen years met with difficulties of initial setup structures, experience and guidance and found it difficult to sustain. Obtaining the nurturing umbrella of the oldest and the most successful Association of Technical Analysts as the MTA was thus crucial in the successful arrival of the ATMA.
In August 2009, Mr. Ralph Acampora, the founder of the MTA and Mr. Phil Roth, a Past-President and significant leader at the MTA found it compelling to visit Mumbai and address a gathering of Technical Analysts as a concrete step to helping form the ATMA. The event Technically Speaking 2009 co-hosted by the UTVi (now Bloomberg UTVi) received many illustrious speakers from the USA through video conferencing and found a wide attendance from Technical Analysts from all over India.
Mr. G.N.Bajpai, an illustrious Public Administrator who most recently has served as the Chairman of Securities & Exchange Board of India graced the occasion as the Guest of Honour and inauguarated the program with the lighting of lamps. Mr. Bajpai is the Chairman of the Advisory Council of the ATMA which is the guiding energy behind this endeavour. He is heading as Chairman the setup of the upcoming ATMA Educational Foundation Trust that would shortly upon obtaining registration etc., will be focusing on the higher goals of achievement for the profession of Financial Technical Analysis. Some of the goals the ATMA Educational Foundation Trust is likely to choose include promoting academic level research in the field of Financial Technical Analysis, help expand the scope and curriculum at Business Schools to inculcate advanced level Technical Analysis in B-School curricula, help parameterize the ethical standard of the industry relating to Technical Anlaysis, help build Financial Research Laboratory.
The long years that the ATMA has taken to reach a stage of formal existence and functioning have gone in to build a robust foundation and where History is going to be continuously written in the decades to come.
"The woods are lovely, dark, and deep, But I have promises to keep, And miles to go before I sleep, And miles to go before I sleep."