Specific Investor Scenario
You may have noticed a third exchange option appearing in some trading apps alongside NSE and BSE. Is it safe to trade on the Metropolitan Stock Exchange (MSE)? What stocks are listed there, and why are big brokers like Zerodha and Groww investing in it?
Quick Answer
Yes, MSE (Metropolitan Stock Exchange of India) is a SEBI-regulated, national-level stock exchange. While it has historically had lower volumes than NSE/BSE, it has entered a “Revival Phase” in 2026.
Official Fact: According to recent MSE Corporate Filings, the exchange raised ₹1,000 crore in August 2025 from a consortium including Rainmatter (Zerodha), Billionbrains (Groww), and Peak XV Partners to modernize infrastructure and attract retail liquidity.
Regulatory Context
MSE operates under the same Securities Contracts (Regulation) Act, 1956 as its counterparts. It is fully authorized by SEBI to operate in Equity, Equity Derivatives, Currency Derivatives, and Debt segments.
Recent Update: Effective January 27, 2026, MSE has restarted live trading in its Equity and F&O segments for a selected list of 130 high-liquidity stocks under a new regulatory framework.
Key Developments (2025-2026)
| Feature | Details | Status |
|---|---|---|
| Capital Infusion | ₹1,000 Cr from Zerodha, Groww, etc. | Completed (Aug 2025) |
| Live Relaunch | Resumption of trading in 130 select stocks | Active (Jan 27, 2026) |
| Liquidity Scheme | Appointment of Market Makers for continuous quotes | Live (Jan 2026) |
| Settlement | Real-time direct payout for secondary market | Implemented |
Practical Implication for Investors
- Liquidity Enhancement: Under the SEBI-approved Liquidity Enhancement Scheme (LES), MSE has appointed market makers to provide continuous “buy” and “sell” quotes. This reduces the risk of getting “stuck” in a trade.
- Competitive Pricing: As a third player, MSE may offer lower transaction charges to brokers, which could eventually lead to lower costs for retail investors.
- Budget Day Session: MSE will participate in the special Budget Day trading session on February 1, 2026, providing an alternative venue for price discovery.
Action Items for Investors
- Enable MSE Segment: Check your trading app settings. Some brokers require you to explicitly enable the “MSE” segment before you can see its quotes.
- Monitor Spread: Because volumes are still scaling, always compare the “Bid-Ask Spread” on MSE with NSE/BSE before placing large market orders.
- Verify Listings: Not all stocks are traded on MSE yet. Check the official list of 130 securities before planning your trade.
Verification Link
Direct link to MSE’s live market tracker: msei.in/Markets/Market-Watch
Verify current status at nseindia.com, bseindia.com, or msei.in before trading.