NSE IPO is coming to the market with a story to sell: dominant market share, but also the regulatory overhang of increasing oversight on one of the exchange’s strongest business segments — futures and options trading. The exchange earns a large part of its money from transaction charges, and within that, options trading is the biggest contributor.
In FY26, transaction charges made up 78.6% of NSE’s revenue from operations. Options alone contributed Rs 9,997 crore, or 60% of operating revenue, while futures added Rs 1,480 crore, or 9%. Together, the futures and options segment contributed about 69% of operating revenue.
