NSE Data & Analytics

What NSE Data & Analytics does

NSE Data & Analytics Limited (formerly DotEx International Limited) is a step-down 100% subsidiary of the National Stock Exchange of India, owned via NSE Strategic Investment Corporation Limited. Incorporated in 2000 and headquartered at Exchange Plaza, Bandra Kurla Complex in Mumbai, the company operates the data and info-vending business of the NSE Group. Its core platform distributes NSE-generated market data to financial market professionals, intermediaries and data vendors/redistributors in India, with a stated headcount band of 501-1000 employees. The entity is private and unlisted; the parent NSE is preparing its own IPO, but NSE Data & Analytics itself has no separate listing.

The company's product portfolio comprises three core offerings. Data and Info Vending is the largest, providing online streaming data feeds at Level 1, Level 2, Level 3 and tick-by-tick granularity, plus snapshot data feeds, end-of-day data, historical data for back-testing and research, and corporate data for listed companies. NSE Fixed Income Valuations extends the franchise into fixed income pricing and analytics. KYC Registration Agency (KRA) services embed the subsidiary into mandatory compliance workflows for Indian market participants. Distribution is direct to enterprises (financial institutions, brokers, data vendors) within India; no API or SDK access is publicly documented and pricing is not disclosed. The Cogencis Information Services acquisition (January 2021) is the principal inorganic content addition on record.

Revenue is generated primarily through recurring subscription fees on data products; standalone revenue for the subsidiary is not separately disclosed in the supplied sources, with the only revenue reference being NSE's consolidated figure of Rs 18,700 crore for FY26. The business is structurally tied to NSE's primary trading platform, giving it privileged access to exchange-generated data, and to the broader NSE Group ecosystem (NAL Academy, NSE Clearing, NSE Indices, NSE International Exchange, NSE Foundation, NSE Investments), which provides cross-sell and internal demand for its data and analytics services. Geographic footprint is domestic-only (India), and no AI/ML capabilities, patents, certifications or named customer logos are disclosed in the source material.

Name

NSE Data & Analytics

Legal name

NSE Data & Analytics Limited

Website

https://nseindia.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

501–1,000 employees

Short description

NSE Data & Analytics Limited is a step-down 100% subsidiary of India's National Stock Exchange that distributes NSE-generated market data — including Level 1-3 streaming, snapshot, end-of-day, historical, corporate and fixed income valuation feeds — plus KYC Registration Agency services to financial market professionals, intermediaries and data vendors in India on a subscription basis.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations

Revenue model

1. Data and Info-Vending: NSE Data & Analytics generates revenue through selling data products including online streaming data feeds (Level 1, 2, 3, tick-by-tick), snapshot data, end-of-day data, historical data, corporate data, and fixed income valuations to market participants

Distribution channels1 record

Core offering

NSE Data & Analytics Limited provides market data products and information-vending services to financial market participants in India. Its offerings include online streaming data feeds (Level 1, Level 2, Level 3 and tick-by-tick), snapshot data feeds, end-of-day data, historical data, corporate data, NSE Fixed Income Valuations, and KYC Registration Agency (KRA) services, distributed via direct subscription to financial institutions and data vendors.

Product overview

NSE Data & Analytics Limited (formerly known as DotEx International Limited) is a step-down 100% subsidiary of NSE that provides data and info-vending products. The product portfolio consists of three main offerings: Data and Info Vending (providing online streaming data feeds at multiple levels, snapshot data, end of day data, historical data, and corporate data), NSE Fixed Income Valuations, and KYC Registration Agency (KRA) services. These products are distributed to financial market professionals, data vendors, and market participants.

Differentiator

Problem solved

Functional benefit

Products and services

• Data and Info Vending Provides market data products including online streaming data feeds (Level 1, Level 2, Level 3 and tick-by-tick data), snapshot data feeds, end-of-day data, historical data, and corporate data for financial market professionals, data vendors, and market participants.
• NSE Fixed Income Valuations
• KYC Registration Agency (KRA) Provides KYC (Know Your Customer) registration agency services as part of the data and analytics product portfolio, supporting identity verification for financial market participants.

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Refinitiv (LSEG Data & Analytics): Refinitiv, now part of London Stock Exchange Group, is the largest global financial market data and infrastructure provider. Directly comparable to NSE Data & Analytics in distributing real-time and historical market data feeds, reference data, and analytics to financial market participants, including in India.
• ICE Data Services: ICE Data Services is the data and analytics arm of Intercontinental Exchange, distributing exchange-derived and evaluated pricing data globally. Highly comparable to NSE Data & Analytics as an exchange-affiliated data vending subsidiary serving institutional clients with feeds, reference data, and analytics.
• S&P Global Market Intelligence: S&P Global Market Intelligence provides financial data, analytics, and research to institutional investors, including market data feeds, reference data, and corporate information. Directly comparable to NSE Data & Analytics in delivering licensed data feeds and corporate datasets to financial professionals.
• Nasdaq Data Link: Nasdaq Data Link (formerly Quandl) is the data distribution arm of Nasdaq, offering exchange-licensed and alternative financial datasets via APIs and feeds. Directly comparable to NSE Data & Analytics as an exchange-affiliated platform monetizing licensed market and reference data.
• Cboe Data Vantage: Cboe Data Vantage is the data and analytics subsidiary of Cboe Global Markets, distributing real-time and historical market data, reference data, and analytics derived from Cboe's exchanges. Directly comparable as an exchange-operated data vending business serving institutional clients.
• Xignite: Xignite provides cloud-based market data APIs and feeds serving fintechs and financial institutions. Comparable to NSE Data & Analytics in offering licensed market data distribution via standardized feeds and APIs to downstream redistributors and platforms.
• Deutsche Börse Market Data: Deutsche Börse Market Data is the data vending arm of Deutsche Börse, distributing real-time and historical data from the Frankfurt exchange group, plus analytics and reference data. Directly comparable to NSE Data & Analytics as an exchange-affiliated data distribution subsidiary.

Broad incumbents

• Bloomberg L.P. Bloomberg operates a broader enterprise data platform (Terminal + data services) covering market data, analytics, news, and trading workflows. Comparable to NSE Data & Analytics on the market data vending side, but operates at much larger scale and with a far broader product portfolio.
• Morningstar: Morningstar is a broad financial data and analytics provider offering market data, reference data, ratings, and investment research. Comparable to NSE Data & Analytics in licensed data distribution and analytics for financial institutions, but with a much wider product footprint.

Regional players

• Bombay Stock Exchange (BSE): BSE is the primary competing Indian exchange and operates its own data and analytics distribution for BSE-listed securities. A regional peer to NSE Data & Analytics, competing for the same Indian market data subscribers from the alternative primary exchange venue.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/NSEIndia
• YouTubeyoutube.com/user/NSEIL1india
• Facebookfacebook.com/NationalStockExchange
• LinkedInlinkedin.com/company/national-stock-exchange-of-india-limited
• Instagraminstagram.com/nseindia

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NSE Data & Analytics