Kenya’s NSE Derivatives Market has surpassed 1 billion Kenyan shillings ($7.7 million) in year-to-date turnover for the first time, the Nairobi Securities Exchange (NSE) said, marking the strongest annual performance since the market launched in 2019.

Year-to-date turnover on the exchange’s derivatives platform, branded NEXT, reached 1,008,460,024 shillings, according to NSE data. The figure represents a more than fourfold increase over full-year 2025 turnover of 249 million shillings, NSE data show.

The NSE said the milestone reflected growing investor confidence in the market and its efforts to deepen liquidity and expand access to trading instruments.

The NSE Derivatives Market has recorded successive record months this year. Turnover had already climbed to 704.5 million shillings by late July, almost three times the total traded during all of 2025 and the highest annual activity since the market launched in 2019.

First-quarter turnover reached 317.6 million shillings, surpassing the entire 2025 total, while February alone generated 140.9 million shillings from more than 40,000 contracts, the strongest monthly performance since the market’s launch, according to the exchange.

By mid-September, turnover had climbed further. NSE data showed year-to-date turnover reaching 817.87 million shillings, compared with 249 million shillings for all of 2025 and 170 million shillings in 2024.

The latest figure of just over 1 billion shillings extends that trajectory into a new milestone for the market.

The NSE has expanded the range of instruments available on its derivatives platform this year. The exchange launched its first options contracts on the NEXT derivatives market on June 19, 2026, a segment that had previously offered only futures contracts.

The broader product range has coincided with deeper participation from investors. Open interest the number of outstanding derivatives contracts that remain active rose sharply between the first quarters of 2025 and 2026, reaching nearly 12,000 contracts worth 54.4 million shillings by the end of the first quarter of 2026.

As trading activity has accelerated, the NSE has also revised risk-management requirements for the market.

The exchange raised initial margin requirements for several equity futures, including I&M Group, Kenya Power, Equity Group and KCB Group, with the new requirements taking effect on Sept. 18, 2026, covering contracts expiring in December 2026 and in March, June and September 2027.

I&M recorded the largest percentage increase among existing December 2026 contracts, with its initial margin rising by 275 shillings, or 32.4%, to 1,125 shillings from 850 shillings. The NSE said clients whose margin requirements declined would receive refunds reflecting the revised rates.

The NSE has published year-by-year turnover figures tracing the market’s expansion since its launch: 21 million shillings in 2019, 41 million shillings in 2020, 297 million shillings in 2021, 127 million shillings in 2022, 64 million shillings in 2023, 170 million shillings in 2024 and 249 million shillings in 2025.

The figures show turnover fluctuated in the market’s early years before accelerating sharply in 2026, when year-to-date volumes have already exceeded the combined total of the previous six years.

The NSE Derivatives Market operates alongside the exchange’s equities, bonds and real estate investment trust segments. The wider Nairobi Securities Exchange recorded a market capitalisation of about 4.2 trillion shillings ($32.3 billion) as of late September, according to exchange data.

The NSE has also worked to raise the international profile of its derivatives segment. The exchange previously said it had integrated its derivatives data with global market-data provider Refinitiv, giving international investors real-time visibility into pricing and activity on the Kenyan market.

The NSE said it would continue efforts to build liquidity, expand market access and create opportunities for investors as the derivatives segment matures.

The exchange cautioned that derivatives trading carries significant risk. Past performance is not indicative of future results, the NSE said, adding that the information should not be considered financial advice and that investors should carefully consider the risks before trading.