Trading volumes in options contracts beyond the current and next weekly expiries have risen five-fold since January 2025, while premium turnover from these contracts has surged nearly ten-fold over the same period.
“If I take January 2025 as the base, the number of contracts traded in expiries other than the current and next week is now five times higher. In terms of premium, it has grown almost ten-fold,” BSE Managing Director and Chief Executive Officer Sundararaman Ramamurthy said during the company’s Q1 earnings call.
BSE acknowledged that liquidity in longer-dated contracts remains below its desired levels, adding that multiple headwinds, including recent regulatory changes such as the RBI circular, have slowed the pace of growth. However, the exchange said it remains optimistic that continued market outreach and advocacy efforts will help deepen participation over time.
Management also declined to comment on the exchange’s cash market share after just two days of trading under the new regulatory framework, saying it would be more appropriate to assess trends once monthly volume data becomes available.
BSE said it does not measure success purely by market share, choosing instead to focus on broadening participation and deepening market liquidity.
According to the management, premium turnover has continued to grow steadily, while BSE’s share of premium volumes relative to NSE’s Nifty options has also been increasing. However, the exchange said it does not actively track this metric as a key performance indicator.
The exchange also highlighted rising market participation, with more than 610 trading members and around 650 foreign portfolio investors (FPIs) now actively trading on the platform. It aims to increase the number of active FPIs to at least 800 over time.
BSE reported ₹1,566 crore in revenue for the June quarter, largely flat sequentially, while EBITDA margin expanded 57 basis points to 68%. Operating profit stood at ₹1,072 crore.
Net profit rose 10% to ₹874 crore, primarily driven by mark-to-market gains amid favourable market conditions, while the core operating performance remained broadly steady as elevated trading activity continued through the quarter.
