Not sure if the comparison is mangoes to mangoes.
NSE has about 185 stocks on F&O apart from the Index F&Os (Nifty, Bank Nifty and Fin Nifty being the most prominent ones) as against Sensex F&O being the only F&O product that is being actively traded in BSE. Bankex is still in its nascency.
Eitherway I believe comparing the market share of any of these product is a futile exercise as the products are all different and have independent standalone reason why market participants trade in each of these.
BSE management has done an excellent job in convincing the market participants on the underlying strength and purpose of trading in Sensex contracts. We are currently seeing early signs of Bankex contracts also gaining momentum(though Bankex is not significantly different from Bank Nifty in terms of its underlying).
BSE has a huge opportunity in terms of gaining market share both on derivatives and cash as they have negligible market share currently. Its all about listening to market, introducing the right products, making the trading attractive for participants, providing seamless connectivity and delivering fool proof infrastructure support.
The current management is driven by a purpose to make BSE a vibrant place to invest, trade and hedge by the year 2025 – market seems to be convinced by the actions of the management so for, which is visible from the way price has moved over the last 3-4 months. Now all they need to do is to keep the momentum going and continue to capture the imagination of the participants.
AJ
Disclosure: Remain invested. Views are biased.
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