Stricter trading rules for the futures and options (F&O) segment could lead to a shift in volumes to the "offshore" GIFT City in Gujarat, a top exchange official said.
"GIFT City may become the beneficiary of the trading volumes going down in the Indian jurisdiction if Sebi's proposals are implemented," said Ashishkumar Chauhan, managing director and chief executive officer (MD & CEO), NSE in the earnings call on Thursday. The market regulator has proposed seven key measures to curb retail participation in the derivatives segment. These include higher entry barriers and fewer weekly expiries of index derivatives.
Exchanges are bracing for an impact on their trading volume and revenues as the options segment in particular is the highest contributor to revenues.
On the impact of profitability owing to the changes, Chauhan said it will have a "significant impact on the volumes".
This story is from the August 09, 2024 edition of Business Standard.
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This story is from the August 09, 2024 edition of Business Standard.
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