Market structure
SEBI-registered market intermediaries — how many brokers exist on each exchange
These are counts of SEBI-registered brokers, not active clients. A firm registered in several segments (cash, F&O, currency, …) is counted once in each, so segment figures must not be summed. Source: SEBI Monthly Bulletin, Table “SEBI Registered Market Intermediaries/Institutions”.
Registered brokers over time
By exchange, per segment
Depository participants
Registered DPs at NSDL and CDSL
SEBI-registered market intermediaries — Mar 2026
Registered brokers per exchange (cash segment): 1,245 BSE · 1,233 NSE · 332 MSEI. These are registration counts, not active clients.