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Informist, Monday, Jun. 8, 2026

 

By Rajesh Gajra

 

MUMBAI – The BSE Ltd. is exploring institutional investor-centric products in its equity derivatives segment, the exchange's Managing Director and Chief Executive Officer Sundararaman Ramamurthy told Informist in a brief interaction. Complete contours of these products are still being thought over, but the idea is to have one-month trading contracts which the institutional investors can use to frame effective hedging and trading strategies, he said. These contracts would ideally not be apt for daily trading, Ramamurthy said.

 

Ramamurthy said he would like such a product to be conceptualised and finalised in the current financial year 2026-27 (Apr-Mar). In mid-May, BSE launched monthly futures and options contracts on its Focused IT index and is already seeing trading volume traction, although it is negligible in comparison with Sensex futures and options.

 

The BSE has also received approval from the Securities and Exchange Board of India for two more indices – Sensex Next 30 and Focused Midcap, Ramamurthy had told investors and analysts in the post-March quarter earnings conference call on May 7. He reiterated to the analyst community that BSE will continue to attempt to improve market depth by evolving its product suite, particularly through the promotion of longer tenure contracts, and also by expanding participation by institutional investors and brokers.

 

The exchange has, in the last two years, sharply focused on getting more brokers and foreign portfolio investors connected to the exchange's equity derivatives platform and undertaking active trading. The broker count increased to 587 in FY26 from 446 in FY25, while the number of FPIs using BSE's equity derivatives platform jumped up to 520 from 100, the BSE managing director told analysts.

 

In BSE's equity derivatives segment, the average daily premium turnover in options more than doubled to INR 195.23 billion in FY26 from INR 89.78 billion in the trailing financial year, with the transaction charges receipts in this segment also doubling to around INR 30 billion and making up a chunk of the total consolidated transaction charges income of INR 37.95 billion. BSE's market share in premium turnover of equity options, with the National Stock Exchange of India being the only other exchange in this segment, also doubled to 25.3% in FY26 from 12.6% in the trailing year, as per calculation of data from SEBI's latest monthly bulletin.

 

In the equity futures segment, however, BSE's market share was marginal at only around 0.2% in FY26. "I am not running behind market share. For me, BSE's market share is 100?cause I am bringing in newer products," Ramamurthy said in his interaction with Informist.

 

The exchange's equity cash market performance in FY26 was not noteworthy with the average daily turnover at INR 79.50 billion in FY26, up only slightly from INR 77.67 billion in FY25. The transaction charges income in this segment declined to INR 2.50 billion in FY26 from INR 3.02 billion in the trailing year.

 

At 1008 IST, shares of BSE were trading 1.5% higher at INR 3,938.90 on the National Stock Exchange where it is listed.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Deepshikha Bhardwaj

 

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