Open Futures

Open Futures is an Indian proprietary trading firm and Top 5 HFT player that deploys proprietary capital across Futures, Options, Commodities, Equity, and FX using algorithmic arbitrage strategies. It serves sophisticated traders via proprietary low-latency platforms and Pro-Account brokerage services, with operations across NSE, BSE, MCX, NCDEX, and GIFT City IFSC.

Company typePrivate
Founded2000
HeadquartersGurugram, India
Headcount101–250
GTM typeB2B
OfferingServices

What Open Futures does

Open Futures is a privately held Indian diversified financial institution specializing in proprietary trading, money management, and proprietary trading technology. Founded around 2000 and headquartered in New Delhi with operations across Noida, Gurgaon, and GIFT City (Gandhinagar), the firm operates through three SEBI-registered entities: Open Futures, Open Futures & Commodities Pvt. Ltd., and Open Futures & Commodities IFSC Pvt. Ltd. It ranks among the Top 5 High Frequency Trading (HFT) firms in India and was the first Indian firm to use NSE's co-location services, giving it a structural latency advantage.

The firm deploys proprietary capital across all major asset classes — Futures, Options, Commodities, Equity, and FX — using a diverse set of algorithmic strategies including index arbitrage, volatility dispersion trading, basket trading, sector trading, statistical arbitrage, and quantitative strategies. Positions may be held for fractions of a second. Core technology is built around proprietary low-latency trading platforms that integrate real-time market data, derivatives valuation, and electronic exchange connectivity, supported by memberships across NSE, BSE, MCX, NCDEX, MSE, and NSE IFSC plus depository linkages with NSDL and CDSL. Trading and development teams are recruited from top Indian engineering institutes with expertise spanning mathematics, statistics, finance, engineering, physics, and computer science, operating as semi-independent entrepreneurial units within the firm.

The business model combines proprietary trading P&L (the dominant revenue driver) with regulated brokerage services (capped at 2.5% of contract value for cash/futures/currency and 2.5% of premium or Rs.100 per lot for options), money management fees, and a Pro-Account trading service for external clients. The customer base targets sophisticated traders and institutional/professional clients. The firm is founder-led, with S.P. Rawal as Chairman and Sanjay Rawal as CEO, and has not disclosed external institutional investors or parent company ownership.

Open Futures firmographics

Firmographics

Name: Open Futures
Legal name: Open Futures
Website: https://openfutures.in
Company type: Private
Founded year: 2000
Operating status: Operating
Headcount range: 101–250 employees
Short description: Open Futures is an Indian proprietary trading firm and Top 5 HFT player that deploys proprietary capital across Futures, Options, Commodities, Equity, and FX using algorithmic arbitrage strategies. It serves sophisticated traders via proprietary low-latency platforms and Pro-Account brokerage services, with operations across NSE, BSE, MCX, NCDEX, and GIFT City IFSC.
Ownership category
akta.pro rank

Open Futures industry classification

Industry

Product category: Proprietary Trading
NAICS: Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160), Commodity Contracts Intermediation (52316), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
SIC: Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)
akta.pro primary industry: Managed Futures / CTA (Trend, Carry, Global Futures) (FSAHAEAB)
akta.pro secondary industry: Hedge Funds — Commodity Systematic/CTA (Managed Futures) (FSAHAHAC)

Keywords

Proprietary trading
Algorithmic trading
High frequency trading
Money management
Trading technology

Where Open Futures is headquartered

Location

Headquarters

HQ city: Gurugram
HQ country: India
HQ region: Asia

Offices4 records

Markets served

Open Futures business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Technology or R&D, Infrastructure, Personnel, Operations

Revenue model

Proprietary Trading: The firm trades securities in all asset classes including Futures, Options, Commodities, Equity, and FX using proprietary capital and algorithmic strategies.
Brokerage Services: Brokerage services for clients with maximum rates of 2.5% of contract price for cash/futures/currency and up to 2.5% of premium or Rs.100 per lot for options contracts.
Money Management: Money management services offered as part of diversified financial institution offerings.

Pricing tiers

Model	Billing	Price
Transaction based/ take rate	Pay-as-you-go	Standard brokerage rates per exchange regulations

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Open Futures product offering

Product offering

Core offering

Open Futures is a proprietary trading firm based in India that specializes in proprietary trading, money management, and technology solutions. The firm is among the Top 5 HFT (High-Frequency Trading) firms in India and was the first to use NSE's co-location services. It deploys capital across futures, options, commodities, equity, and FX using sophisticated algorithmic strategies such as index arbitrage, volatility dispersion, and basket trading.

Product overview

Open Futures operates as a diversified financial institution offering a unified portfolio of proprietary trading services. The core offering centers on high-frequency algorithmic trading (HFT), ranking among India's Top 5 HFT firms, complemented by quantitative and statistical arbitrage strategies. These services are underpinned by proprietary technology solutions that integrate real-time market data with derivatives valuation and electronic exchange connectivity. The company also provides money management and risk management services, all traded across multiple asset classes including Futures, Options, Commodities, Equity, and FX.

Differentiator

Problem solved

Functional benefit

Products and services

Proprietary Trading Services
High-Frequency Trading (HFT) Solutions
Money Management Services
Algorithmic Trading Technology

Companies that use Open Futures

Customer profile

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Open Futures technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

Open Futures partnerships and signals

Strategic signal

Partnerships

Seven partnerships are on record, tiered core.

National Stock Exchange (NSE)coreTechnology or IntegrationExchange membership (Member ID: 13321) and first Indian firm to utilize NSE's co-location services for reduced latency trading.
Bombay Stock Exchange (BSE)coreTechnology or IntegrationExchange membership (Member ID: 6465) enabling trading on BSE markets.
Multi Commodity Exchange (MCX)coreTechnology or IntegrationExchange membership (Member ID: 56245 for Open Futures, 40765 for Open Futures & Commodities) for commodity derivatives trading.
National Commodity & Derivatives Exchange (NCDEX)coreTechnology or IntegrationExchange membership (Member ID: 01052) for agricultural and other commodity derivatives trading.
NSE IFSC (GIFT City)coreTechnology or IntegrationInternational Financial Services Centre exchange membership (Member ID: 10051) through Open Futures & Commodities IFSC Pvt. Ltd.
NSDL (National Securities Depository Limited)coreTechnology or IntegrationDepository services for securities settlement and custody.
CDSL (Central Depository Services Limited)coreTechnology or IntegrationDepository services for securities settlement and custody.

Scale indicators3 records

Recent moves1 record

Expansion highlights5 records

Open Futures competitors and assessment

Company assessment

Broad incumbents

Sharekhan: Large Indian retail brokerage with proprietary trading and technology offerings; competes with Open Futures' brokerage and Pro-Account services across Indian exchanges.
Motilal Oswal Financial Services: Diversified Indian financial services firm with brokerage, institutional equities, and proprietary investment businesses; broader in scope but competes for the same Indian trading and brokerage client base.
Citadel Securities: Large, diversified global market maker and HFT firm across equities, options, and futures; broader scale than Open Futures but operates the same core electronic liquidity-providing model.

Direct peers

Virtu Financial: Publicly listed HFT and market-making firm providing liquidity across global equities, options, and ETFs using proprietary technology — highly comparable model to Open Futures' algorithmic trading platform.
Tower Research Capital: Global proprietary trading firm focused on high-frequency, quantitative trading across equities, futures, options, and FX — closely comparable to Open Futures' HFT and stat-arb model.
IMC Financial Markets: Global proprietary trading and market-making firm specializing in algorithmic trading across multiple asset classes; parallels Open Futures' quantitative, low-latency strategy mix.
Optiver: Global market maker and HFT firm trading derivatives, equities, and FX with proprietary technology; direct functional peer for Open Futures' electronic trading and derivatives expertise.
Jane Street: Quantitative trading firm operating across asset classes including equities, options, futures, and ETFs; matches Open Futures on systematic, low-latency multi-asset trading.
Quadeye Securities: India-based high-frequency and algorithmic trading firm operating across Indian exchanges — direct domestic peer to Open Futures within the same regulatory and market context.
iRageCapital: Indian quantitative and HFT firm providing algorithmic trading and execution services; comparable strategy stack and Indian-market focus to Open Futures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Open Futures financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Open Futures leadership team

Management profile

Number of profiles

Open Futures subsidiaries and ownership

Company hierarchy

Subsidiaries2 records

Open Futures funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Open Futures M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about Open Futures

What does Open Futures do?

Is Open Futures a public or private company?

Open Futures is a private company. It is classified as unknown and is currently operating.

When was Open Futures founded?

Open Futures was founded in 2000. It employs 101 to 250 people.

Where is Open Futures based?

Open Futures is headquartered in Gurugram, India, in the Asia region.

How does Open Futures make money?

Three revenue lines are on record. Proprietary Trading is the primary driver. The others are brokerage Services and money Management.

Who are Open Futures's main competitors?

Broad incumbents on record are Sharekhan, Motilal Oswal Financial Services and Citadel Securities. Direct peers are Virtu Financial, Tower Research Capital, IMC Financial Markets, Optiver, Jane Street, Quadeye Securities and iRageCapital.

Does Open Futures have an API?

No public API is recorded for Open Futures.

What industry is Open Futures in?

Open Futures's product category is Proprietary Trading. Its primary akta.pro industry code is FSAHAEAB, Managed Futures / CTA (Trend, Carry, Global Futures), with a secondary code of FSAHAHAC, Hedge Funds — Commodity Systematic/CTA (Managed Futures). Its NAICS code is 5231 and its SIC code is 6211.