Grapes vs. Watermelons: NSE CEO Ashish Chauhan on India’s Options Boom & SEBI’s Role in Investor Trust
Comparing India’s options market to developed nations is like comparing grapes to watermelons
At the Global Wealth Summit 2025, during a panel discussion, NSE CEO, Shri Ashish Chauhan shed light on a critical issue in India’s options trading landscape. While acknowledging SEBI’s pivotal role in building trust within the financial ecosystem, he addressed the most debated question— Is options trading in India blown out of proportion with the massive surge seen in the recent years? His response was sharp and data-driven:
Comparing India’s options market to developed nations is like comparing grapes to watermelons.
NSE CEO Shri Ashish Chauhan shared these crucial insights
India’s per-trade value in options is close to USD 100, which is very low compared to other developed countries that have significantly higher per-trade values. This is why our No. 1 status as a derivatives trader, as specified by the World Federation of Exchanges (WFE), is not justified. It is like comparing grapes to a watermelon.
As of now, there are 2-3 more exchanges (MSEI, NCDEX, etc.) trying to introduce their daily expiries on different dates, defeating SEBI’s purpose of limiting the number of expiries in a week to protect small investors. More exchanges may enter the market and request additional days for their own daily expiries, which could lead to an increase in the number of expiry days in a week. This is why there should be a single expiry date for all exchanges in a week, rather than each exchange having a different expiry day for its own contracts.
SEBI has done well in implementing new regulations. All seemingly tough regulations introduced by SEBI in the last five or even thirty years have strengthened investor trust and increased market participation. NSE fully supports all SEBI measures.
The Big Takeaway
India’s booming options market may be making headlines, but the real metric to watch is trade value, not just volume. A cohesive regulatory approach, including streamlining expiries, will be key to ensuring sustainable and meaningful market growth. SEBI has played a crucial role in fostering investor trust through its evolving regulatory framework, and NSE remains committed to supporting SEBI’s initiatives to strengthen and stabilise India’s financial ecosystem.
Disclaimer: The article is for informational purposes only and not investment advice.