ANALYSIS: India’s derivatives tax hike - ‘a wrong-sized scalpel to treat a wound’

2nd February, 2026

Karry Lai

Some industry participants are concerned that the securities transaction tax on equity futures and options will have long-lasting consequences on market microstructure.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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