Driven by low fixed costs, Indian stock exchanges operate with high cost efficiency, enabling NSE to achieve the highest adjusted operating EBITDA margin among leading global exchange groups.This matches a decade of significant market expansion where the domestic cash market turnover has increased nearly sixfold.The system is both highly active and reliable: Indian exchanges lead the world in new IPO listings while experiencing fewer technical glitches than global peers. With a strong operational foundation, India’s cash market remains well-positioned with clear room for future growth.Published on June 30, 2026