NCDEX Targets Year-End for Cash Segment, 12 Months for Equity Derivatives Debut

National Commodity & Derivatives Exchange is preparing to enter the equity derivatives segment within the next 12 months, while the launch of its equity cash business is expected by the end of 2026, according to The Mint report.  

The proposed expansion is subject to approvals from the Securities and Exchange Board of India. The exchange is expected to begin with weekly and monthly options contracts.  

NCDEX has primarily operated in agricultural commodities since commencing operations in 2003 after commodity derivatives trading was reopened in India.  

Mutual Fund Platform Likely Before Equity Rollout 

NCDEX said it plans to 1st launch a mutual fund platform in June. Managing Director and Chief Executive Officer Arun Raste stated that systems and hardware for the equity cash segment have already been finalised, while the launch timeline depends on SEBI clearance.  

The exchange had received in-principle approval from SEBI in July 2025 to launch equity and equity derivatives segments. Its board had approved the diversification proposal earlier in February 2025.  

Officials said the equity cash segment could move into the user acceptance testing phase by September this year.   

NCDEX also recently secured approval to launch a mutual fund distribution platform, which is expected to support its expansion outside the commodities business.  

₹770 Crore Raised Through Share Allotment 

In September 2025, NCDEX raised ₹770 crore through a preferential allotment of shares to 61 investors. The investor list included Kotak Life Insurance, JM Financial, trading firms and foreign high-frequency traders such as Citadel Securities and Optiver.  

The entry into equity derivatives would place NCDEX alongside National Stock Exchange of India and BSE, which currently dominate the segment. SEBI rules permit equity derivatives expiries only on Tuesdays and Thursdays.  

Turnover Levels Highlight Market Gap 

NSE reported premium turnover of ₹142.42 trillion in FY26, while BSE recorded ₹48.22 trillion during the same period. In comparison, NCDEX reported futures turnover of ₹1.4 trillion and options premium turnover of ₹209 crore in FY26. 

Read More: SEBI Proposes Phased Physical Settlement for Specific Agri Commodity Derivatives! 

Conclusion  

The exchange is preparing for a phased entry into India’s equity market, beginning with a mutual fund platform and followed by cash and derivatives segments over the next year. 

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