"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. OTCEI and Bangalore Stock Exchange (BgSE) have already been granted membership of the exchange, he said. According to NSE norms, other exchanges could become members through subsidiaries only, he added.