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Some research analysts have announced a closure of operations, fearing higher compliance costs. But it may be too soon to take such a call.

As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
While the regulator’s interim order alleges massive irregularities, the long arc of unfinished probes, hearings and appeals makes closure distant.