NSE says it was the world’s largest derivatives exchange by trading volume in 2025. On June 22, 2026, the exchange announced it had signed a memorandum of understanding with Bharat Metal Exchange Ltd (BME) to bring that experience to non-ferrous metals.
BME was formerly the Bombay Metal Exchange, and according to the filing it has been tied to the non-ferrous metals trade for more than 9 decades. It still operates as a trade body serving the industry. NSE, by contrast, began operations in 1994 and brought electronic trading to the Indian market.
The metals behind the deal
India is one of the largest consumers of copper, aluminium, zinc, lead and nickel. Those metals go into construction, manufacturing, power equipment, renewable energy and electric vehicles. When prices move, companies that produce, process or trade them feel it, and raw material costs can shape purchasing decisions, inventories and contracts, particularly where metals make up a large share of expenses.
The MoU is meant to widen the use of exchange-traded contracts linked to those metals. NSE supplies a marketplace for derivative contracts. BME has long-standing relationships with participants in the physical trade. The agreement covers work on new products in the non-ferrous segment and a program of joint outreach.
Who gets approached
Outreach will target producers, consumers, processors, traders, importers, exporters and industry associations in the metals sector, along with financial market participants. The aim is to make them more familiar with exchange-traded products that can be used against price swings.
In the statement, NSE’s Sriram Krishnan said the tie-up would help “market participants to manage price risks more effectively.” BME president Sushil R. Kothari said the arrangement should help “bridge the gap between the physical and derivatives markets.”
The agreement sets out a framework for engagement between the physical metals industry and the derivatives market. Neither exchange has given a timetable for new contracts.
Sources
- NSE Signs MoU with Bharat Metal Exchange (BME) to Promote Non-Ferrous Metal Derivatives in India
- NSE, Bharat Metal Exchange join hands to develop non-ferrous metal derivatives market – CNBC TV18
- NSE sings MoU with Bharat Metal Exchange to boost non-ferrous metal derivatives market in India
