| Trading | Equity and derivatives trading including futures and options across multiple asset classes. | Leading market share, advanced electronic trading platform, broad product portfolio. | Retail investors, institutional investors, brokers (B2C and B2B). | Derivatives trading fees and data services offer highest margins. | 15892 | 96 | Transaction fees, listing fees, and market data licensing. | Fee per transaction and data subscription models. | Rising trading volumes and introduction of new derivatives products driving segment growth. | Nifty 50, Nifty Next 50, Nifty Midcap Select |
| Clearing | Clearing and settlement services for securities and derivatives trades. | Strong risk management systems and exclusive clearing infrastructure for NSE trading. | Trading members, brokers, institutional investors (B2B). | Clearing services related to derivatives segments provide strong margins. | 1762 | 11 | Clearing and settlement charges per transaction. | Per transaction fees for clearing and settlement. | Growing trading volumes and regulatory emphasis on clearing efficiency. | NSE Clearing Limited |
| Others | Mutual fund registry services, market data analytics, corporate governance and technology support. | Integrated service offerings, wide client base, and proprietary data products. | Asset managers, mutual funds, corporates (B2B). | Data analytics and mutual fund services have higher profitability. | 644 | 4 | Subscription fees, service charges for registry and data products. | Subscription and service-based fee models. | Increasing mutual fund participation and demand for quality market data and analytics. | Mutual Fund Service System, Data Analytics |
