BSE Ltd.'s Sensex contract is making significant progress in the equity derivatives segment, which was traditionally dominated by NSE. As of Tuesday, it now accounts for about 40% of NSE's derivative volume. This development comes as a result of the integration of discount brokers, new product introductions, and organic growth spurred by proprietary and retail traders.
The forthcoming Bankex contract is projected to further bolster BSE's position, enabling it to cover nearly 95% of NSE's derivative volume. This single contract has propelled BSE to a notional/premium market share of approximately 9/3%.
Notably, the platform has seen a sharp increase in active unique client codes. The number skyrocketed to around 0.4 million from virtually zero on June 23. This growth in client engagement is a testament to BSE's expanding influence in the market.
Despite BSE's options pricing being significantly lower than that of NSE, a pricing reset is on the horizon. This adjustment is expected to triple options pricing while still maintaining a discount of about 57% compared to NSE. This strategic move aims to balance competitive pricing with sustainable revenue generation for the exchange.
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