{"id":28456,"date":"2023-03-20T12:48:53","date_gmt":"2023-03-20T07:18:53","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=28456"},"modified":"2023-03-20T13:35:20","modified_gmt":"2023-03-20T08:05:20","slug":"f-active-clientsgrowth-to-taper-in-near-term-report","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/","title":{"rendered":"F&#038;O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"28456\" class=\"elementor elementor-28456\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-14d1cf5d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"14d1cf5d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2e1ec45d\" data-id=\"2e1ec45d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-120db72b elementor-widget elementor-widget-text-editor\" data-id=\"120db72b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Indian capital market has seen robust growth in terms of volume in the past two years since the pandemic, driven by the Futures &amp; Options (F&amp;O) segment, according CareEdge Ratings. In fiscal 2021, the market volumes grew by 92% YoY, while in 2022 it grew further by 154%. This significant growth was on the back of ample liquidity and increased participation from retail investors. The F&amp;O segment grew by 97% in FY21 and 160% in FY22, while the cash segment rose 70% in FY21 before tapering down to a modest 9% in FY22.<\/p><p>F&amp;O segment volumes have always been significantly higher than cash segment volumes, as investors can take large positions through higher leverage and less upfront cash requirement compared to the cash segment, the rating agency stated. However, despite the sharp increase in F&amp;O volumes, its contribution to the overall broking income remains relatively low and the cash segment remains the cash cow for the broking industry.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dc8dbf3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dc8dbf3\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b9382d\" data-id=\"2b9382d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-81f9452 elementor-widget elementor-widget-image-gallery\" data-id=\"81f9452\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-gallery.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-image-gallery\">\n\t\t\t<div id='gallery-1' class='gallery galleryid-28456 gallery-columns-2 gallery-size-large'><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a data-elementor-open-lightbox=\"yes\" data-elementor-lightbox-slideshow=\"81f9452\" data-elementor-lightbox-title=\"02\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6Mjg0NzUsInVybCI6Imh0dHBzOlwvXC9mbGF0dHJhZGUuaW5cL2tvc2hcL3dwLWNvbnRlbnRcL3VwbG9hZHNcLzIwMjNcLzAzXC8wMi5qcGciLCJzbGlkZXNob3ciOiI4MWY5NDUyIn0%3D\" href='https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02.jpg'><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-1024x559.jpg\" class=\"attachment-large size-large\" alt=\"\" aria-describedby=\"gallery-1-28475\" srcset=\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-1024x559.jpg 1024w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-300x164.jpg 300w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-768x419.jpg 768w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-450x246.jpg 450w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-780x426.jpg 780w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02.jpg 1434w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='gallery-1-28475'>\n\t\t\t\tVolume Growth\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a data-elementor-open-lightbox=\"yes\" data-elementor-lightbox-slideshow=\"81f9452\" data-elementor-lightbox-title=\"01\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6Mjg0NzYsInVybCI6Imh0dHBzOlwvXC9mbGF0dHJhZGUuaW5cL2tvc2hcL3dwLWNvbnRlbnRcL3VwbG9hZHNcLzIwMjNcLzAzXC8wMS5qcGciLCJzbGlkZXNob3ciOiI4MWY5NDUyIn0%3D\" href='https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01.jpg'><img decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01-1024x559.jpg\" class=\"attachment-large size-large\" alt=\"\" aria-describedby=\"gallery-1-28476\" srcset=\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01-1024x559.jpg 1024w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01-300x164.jpg 300w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01-768x419.jpg 768w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01-450x246.jpg 450w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01-780x426.jpg 780w, https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/01.jpg 1434w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='gallery-1-28476'>\n\t\t\t\tSegment Growth\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2190380b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2190380b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-77ab84ab\" data-id=\"77ab84ab\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-65e4c399 elementor-widget elementor-widget-heading\" data-id=\"65e4c399\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Discount Brokers vs Traditional Brokers vs Bank-based Brokers<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-78d2908c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"78d2908c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b71763f\" data-id=\"b71763f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1a11cedf elementor-widget elementor-widget-text-editor\" data-id=\"1a11cedf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The total income of brokers \u2013 discount, traditional, and bank-based brokers \u2013 comprises mainly of broking income and other income, which includes fees income and interest income, according to CareEdge Ratings. Large traditional brokers and bank-based brokers have relatively better diversification in their total income profile with broking income contributing about two-thirds of the total income, CareEdge noted. These brokers have diversified their income channels through income from margin trading funding and providing wealth services such as insurance and mutual funds distributions.<\/p><p>Meanwhile, the number of active clients grew and discount brokers have managed to corner a market share of about 70% of total active clients at end of fiscal 2022. However, this has not commensurately translated in the share of broking income or profitability at an aggregate level.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-929b3ce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"929b3ce\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0d10505\" data-id=\"0d10505\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d33601 elementor-widget elementor-widget-text-editor\" data-id=\"9d33601\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Discount brokers constitute about 40% of the total industry\u2019s broking income and around 30% of net profits. On the other hand, bank-based brokers contribute about one-third of broking income and close to 50% of net profits with an active client share of just over 20%. This is because clients of discount brokerage firms are majorly focused on trading in the F&amp;O segment, while clients of bank-based brokers have higher share in cash segment.<\/p><p><span style=\"font-size: 16px;\">Nonetheless, traditional brokers have been investing in technology in the past last few years and expanding their network to acquire new clients. Consequently, their cost-to-income ratio have increased. CareEdge believes that once the cost-to-income ratio of traditional brokers normalises, their profit margins will improve from current levels. Like bank-based brokers, the traditional ones are also expected to benefit from their diversified income sources and relatively higher share of cash segment trading.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e45c646 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e45c646\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-63da316c\" data-id=\"63da316c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-799551f elementor-widget elementor-widget-heading\" data-id=\"799551f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Stringent Regulatory Compliance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7c86c5b7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7c86c5b7\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-62f0cfa6\" data-id=\"62f0cfa6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-daf39da elementor-widget elementor-widget-text-editor\" data-id=\"daf39da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In the recent past, the market regulator Sebi has come out with stringent rules to improve the functioning of capital markets and their intermediaries, and protect investor capital from being misused. These include peak margin that was introduced in September 2021 to set strict rules on leverage. Then the \u201cDemat Debit Pledge Instructions\u201d (DDPI) was implemented in July 2022 and it replaced the Power of Attorney provided by clients to brokers. Further, the Quarterly fund settlement introduced in October 2022 where funds in the trading account must be transferred back to the client&#8217;s bank account once in a quarter by the brokers will also help in mitigating the risk for investor capital.<\/p>\n<p>Moreover, SEBI is contemplating to designate some of the country\u2019s top brokers as qualified stock brokers (QSBs) which will increase the compliance requirements for those QSBs. Additonally, it plans to introduce ASBA concept in the secondary market similar to one for the IPO market. Accordingly, the client\u2019s funds will be directly transferred to the clearing house, and brokers would only execute trades for their clients to avoid potential misuse of clients\u2019 funds by the brokers.<\/p>\n<p>All these possible regulatory changes are good for capital markets and investors, but increases the compliance and operational cost for broking companies. As a result, CareEdge believes that bank-based brokers are adequately prepared to handle these additional compliance requirements since they are already subject to additional monitoring from the RBI. Also, some of the large traditional brokers have sufficient capacity to adapt swiftly to the changing regulatory requirements. However, the rating agency expects that a few small brokers may find the regulatory compliance to weigh on their sustenance, and may lead to consolidation in the industry.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7c4e3e0e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7c4e3e0e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1e554308\" data-id=\"1e554308\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-30f4c32 elementor-widget elementor-widget-heading\" data-id=\"30f4c32\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Industry Outlook<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3c53f56a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3c53f56a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5dbed159\" data-id=\"5dbed159\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d85373a elementor-widget elementor-widget-text-editor\" data-id=\"4d85373a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>CareEdge expects the exponential growth in volume and active clients reported in the past two fiscal years is unsustainable over long term. Accordingly, CareEdge estimates moderation in the active clients\u2019 growth in the near term. Nevertheless, retail participation is still low in Indian capital markets and it is likely to augur well for the long-term sustained growth of clients for the overall broking industry.<\/p><p>CareEdge expects the total income growth for the broking industry will moderate to about 10% in FY23, from about 47% in FY22. The total income for FY23 is expected to be about Rs 28,000 \u2013 Rs 30,000 crore with discount brokers continuing to contribute about 40% of the industry\u2019s total income. Further, traditional and bank-based brokers are expected to have a relatively flattish growth with total income more or less equal to the levels of FY22.<\/p><p>CareEdge expects the broking industry performance in FY24 to be largely in line with the trends seen in FY23 with a potential for inorganic growth for some traditional brokers benefiting from consolidation in the industry.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-32e1e235 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"32e1e235\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f1a2796\" data-id=\"f1a2796\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-472a68fd elementor-align-center elementor-widget elementor-widget-button\" data-id=\"472a68fd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/ekyc.flattrade.in\/openaccount\/?utm_source=Blog&#038;utm_medium=organic&#038;utm_campaign=Demat+Account\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Open a Free Demat Account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"Indian capital market has seen robust growth in terms of volume in the past two years since the&hellip;","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[65],"tags":[46,43,95,78,139,48,26,692,144,693,77,47,24,23,84,21,665],"class_list":{"0":"post-28456","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-industry","7":"tag-market-news","8":"tag-market-update","9":"tag-markets","10":"tag-nifty","11":"tag-nifty-futures","12":"tag-nifty-today","13":"tag-nse","14":"tag-opening-bell","15":"tag-options","16":"tag-pre-market","17":"tag-sensex","18":"tag-sensex-today","19":"tag-share-market","20":"tag-stock-market","21":"tag-stocks","22":"tag-trading-account","23":"tag-zero-brokerage","24":"cs-entry","25":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>F&amp;O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report - Flattrade Kosh<\/title>\n<meta name=\"description\" content=\"The F&amp;O segment grew by 97% in FY21 and 160% in FY22, while the cash segment rose 70% in FY21 before tapering down to a modest 9% in FY22.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"F&amp;O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report - Flattrade Kosh\" \/>\n<meta property=\"og:description\" content=\"The F&amp;O segment grew by 97% in FY21 and 160% in FY22, while the cash segment rose 70% in FY21 before tapering down to a modest 9% in FY22.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Flattrade Kosh\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T07:18:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-20T08:05:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2022\/09\/stock-broking.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Flattrade\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Flattrade\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/\"},\"author\":{\"name\":\"Flattrade\",\"@id\":\"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04\"},\"headline\":\"F&#038;O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report\",\"datePublished\":\"2023-03-20T07:18:53+00:00\",\"dateModified\":\"2023-03-20T08:05:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/\"},\"wordCount\":918,\"image\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-1024x559.jpg\",\"keywords\":[\"Market News\",\"Market Update\",\"Markets\",\"nifty\",\"nifty futures\",\"Nifty Today\",\"NSE\",\"Opening Bell\",\"options\",\"Pre Market\",\"sensex\",\"SENSEX Today\",\"Share Market\",\"Stock Market\",\"stocks\",\"Trading Account\",\"Zero Brokerage\"],\"articleSection\":[\"Industry\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/\",\"url\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/\",\"name\":\"F&O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report - Flattrade Kosh\",\"isPartOf\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-1024x559.jpg\",\"datePublished\":\"2023-03-20T07:18:53+00:00\",\"dateModified\":\"2023-03-20T08:05:20+00:00\",\"author\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04\"},\"description\":\"The F&O segment grew by 97% in FY21 and 160% in FY22, while the cash segment rose 70% in FY21 before tapering down to a modest 9% in FY22.\",\"breadcrumb\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage\",\"url\":\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02.jpg\",\"contentUrl\":\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02.jpg\",\"width\":1434,\"height\":783,\"caption\":\"Volume Growth\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/flattrade.in\/kosh\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"F&#038;O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/flattrade.in\/kosh\/#website\",\"url\":\"https:\/\/flattrade.in\/kosh\/\",\"name\":\"Flattrade Kosh\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/flattrade.in\/kosh\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04\",\"name\":\"Flattrade\",\"url\":\"https:\/\/flattrade.in\/kosh\/author\/siddharth-aflattrade-in\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"F&O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report - Flattrade Kosh","description":"The F&O segment grew by 97% in FY21 and 160% in FY22, while the cash segment rose 70% in FY21 before tapering down to a modest 9% in FY22.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/","og_locale":"en_US","og_type":"article","og_title":"F&O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report - Flattrade Kosh","og_description":"The F&O segment grew by 97% in FY21 and 160% in FY22, while the cash segment rose 70% in FY21 before tapering down to a modest 9% in FY22.","og_url":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/","og_site_name":"Flattrade Kosh","article_published_time":"2023-03-20T07:18:53+00:00","article_modified_time":"2023-03-20T08:05:20+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2022\/09\/stock-broking.jpeg","type":"image\/jpeg"}],"author":"Flattrade","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Flattrade","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#article","isPartOf":{"@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/"},"author":{"name":"Flattrade","@id":"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04"},"headline":"F&#038;O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report","datePublished":"2023-03-20T07:18:53+00:00","dateModified":"2023-03-20T08:05:20+00:00","mainEntityOfPage":{"@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/"},"wordCount":918,"image":{"@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage"},"thumbnailUrl":"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-1024x559.jpg","keywords":["Market News","Market Update","Markets","nifty","nifty futures","Nifty Today","NSE","Opening Bell","options","Pre Market","sensex","SENSEX Today","Share Market","Stock Market","stocks","Trading Account","Zero Brokerage"],"articleSection":["Industry"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/","url":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/","name":"F&O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report - Flattrade Kosh","isPartOf":{"@id":"https:\/\/flattrade.in\/kosh\/#website"},"primaryImageOfPage":{"@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage"},"image":{"@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage"},"thumbnailUrl":"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02-1024x559.jpg","datePublished":"2023-03-20T07:18:53+00:00","dateModified":"2023-03-20T08:05:20+00:00","author":{"@id":"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04"},"description":"The F&O segment grew by 97% in FY21 and 160% in FY22, while the cash segment rose 70% in FY21 before tapering down to a modest 9% in FY22.","breadcrumb":{"@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#primaryimage","url":"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02.jpg","contentUrl":"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/03\/02.jpg","width":1434,"height":783,"caption":"Volume Growth"},{"@type":"BreadcrumbList","@id":"https:\/\/flattrade.in\/kosh\/f-active-clientsgrowth-to-taper-in-near-term-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/flattrade.in\/kosh\/"},{"@type":"ListItem","position":2,"name":"F&#038;O segment volumes grow significantly in FY22, active clients\u2019 growth to taper in near term: Report"}]},{"@type":"WebSite","@id":"https:\/\/flattrade.in\/kosh\/#website","url":"https:\/\/flattrade.in\/kosh\/","name":"Flattrade Kosh","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/flattrade.in\/kosh\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04","name":"Flattrade","url":"https:\/\/flattrade.in\/kosh\/author\/siddharth-aflattrade-in\/"}]}},"_links":{"self":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/posts\/28456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/comments?post=28456"}],"version-history":[{"count":0,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/posts\/28456\/revisions"}],"wp:attachment":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/media?parent=28456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/categories?post=28456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/tags?post=28456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}