Pending smart order routing approvals
SOR applications at the other exchange have been pending for over 6 months, impeding BSE's cash market share growth.
BSE / Q4-FY26 / risks
Keep the risk register visible.
BSE · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Slow development of monthly contracts
Despite progress, monthly contract volumes remain low, keeping the premium-to-notional ratio below peers.
ECL provision for old NSC outstanding
An ₹80 crore outstanding from NSC led to an ECL provision, impacting other expenses in Q4.
Volatility-dependent revenue correlation
Clearing expenses and premium revenue are influenced by unpredictable global volatility, making trends uncertain.