Derivatives remain central to NSE’s business. The exchange was the world’s largest by number of derivative contracts traded in calendar 2025. Index options accounted for 53% of NSE’s total revenue, while options contributed 77% of transaction-charge revenue in FY26.
Within transaction charges, options generated Rs 9,996 crore in FY26, or 77% of the Rs 13,057 crore total. Cash equities contributed Rs 1,555 crore, while futures contributed Rs 1,370 crore.
NSE had 106.2 lakh active individual futures and options traders in FY25, with 34.3 lakh new entrants. Options premium turnover grew 14%, according to the supplied data.
The dependence on options also leaves the exchange exposed to changes in trading patterns and regulation. NSE’s options premium market share fell to 74.71% in FY26 from 96.86% in FY24, due to weekly expiry rationalisation that shifted volumes towards BSE’s expiry day. NSE’s cash-market share, however, remained at 93-94%.
