Results for BSE out: Better results than the street expected mainly attributed to increased treasury (due to FNO) and better IPO book building cylce.
- Revenue up 59% YoY
- PBT up 257% YoY
Commentary from management:
- The company has been bleeding heavily in settlement charges due to which the prices were increased earlier than expected. But Sensex has achieved critical mass way before expectation which allowed them to do this
- Bankex has achieved the same volume in 4 weeks that Sensex derivatives took 12-14 weeks to achieve. Prices will be hiked in Bankex as well when critical mass is achieved but surely be done
- Due to most trading happening on expiry days the premium turnover / notional turnover remains lower than NSE. Focus will remain on increasing and developing the longer dated expiry volumes (Upto T+2 weeks) to increase liquidity and price turnover
- New products are being worked upon and eventually be released in the market; however what days still remains uncertain
- Working out things with brokers, members and NCL to further reduce down these costs as the volume in derivatives keeps increasing
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