``Nine more exchanges - Coimbatore, Saurashtra-Kutch, Madhya Pradesh, Uttar Pradesh, Ludhiana, Hyderabad, Vadodara, Madras and Magadh - are at various stages of preparations for becoming members of NSE,'' the exchange's managing director R H Patil said.

The Over the Counter Exchange of India (OTCEI) and Bangalore Stock Exchange have already been granted membership of the exchange, he said.

According to NSE norms, other exchanges could not become members of the exchange directly, but they can do so through subsidiaries, he added.

``They will tremendously increase volumes of the exchange. All their members will bring lot of orders,'' he said.

The average value of trading would go up to Rs 2,500 crore next year from Rs 2,000 crore this year, he added.

To a query, he said ``We don't worry much on BSE's threat of expanding their network. Even after all the talk, 80 per cent of their trades originate from Mumbai, while 60 per cent of our trades come from outside Mumbai.''

If one thinks of trades outside Mumbai, NSE is the relevant exchange, he said.