Metropolitan Stock Exchange to Challenge BSE, NSE Duopoly Soon

• Metropolitan Stock Exchange (MSE) is set to begin operations, with trading expected to commence within two weeks.
• MSE plans a comprehensive liquidity enhancement scheme, appointing market makers for 130 stocks to address liquidity concerns.
• The exchange raised Rs 1,240 crore in two tranches, attracting investments from major brokerage houses like Groww and Zerodha.
• Analysts suggest breaking the strong market share of NSE (90-92% cash, 95% F&O) and BSE (8-10% cash, 5% F&O) will be challenging.
• SEBI's 2025 rules allowing only two weekly equity derivatives expiries could intensify competition and liquidity risks for new exchanges.

Why It Matters: Metropolitan Stock Exchange is launching soon, aiming to challenge the BSE-NSE duopoly despite market dominance.