New Delhi, June 18 -- One of the biggest beneficiaries of the NSE's long-awaited listing could, somewhat ironically, be its chief rival, BSE.

Since Sebi regulations do not permit stock exchanges or their affiliates to list on their own platforms, NSE would have to list on BSE. The arrangement mirrors existing market structures-BSE is listed on NSE, while NSDL, a former NSE affiliate, is listed on BSE.

The listing of India's largest stock exchange is expected to create a significant liquidity pool on BSE's platform, potentially boosting cash-market trading volumes.

While BSE has steadily gained market share in Sensex options over the past three years, its growth in the cash segment hasn't been as impressive.

As of 31 May, equity cash m...