This is with reference to the Exchange Notice no .20130315-25 dated March 15, 2013 regarding LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity and Equity Derivative Segment.
Attributes of LEIPS Scheme for Dealer and Proprietary trading desks/members are further clarified as follows.
A) LEIPS Scheme - Dealer
1. Dealer can register any time during the calendar month
2. The minimum volume criteria for a dealer, who have registered any time during the calendar month, shall start form the date of such registration.
3. Two days waiver shall be available for all registered dealers
4. Only those trades where client type & code are other than ‘OWN’ shall be considered for this scheme.
5. All equity instruments, stock & index futures approved under LEIPS scheme shall be allowed under this scheme
6. Self trades shall not be allowed (same UCC on both side of the trade)
7. All trades executed via non programmed orders shall be counted for this scheme. Non programmed orders mean orders executed/entered by not using ALGO or similar mechanism.
8. All members of BSE & their dealers are allowed to register for this scheme
9. Registration of dealers for the scheme shall be done by respective member of that dealer through BEFS
B) LEIPS Scheme -Proprietary trading desk/member
1. Member can register any time during the calendar month
2. The minimum volume criteria for a trading desk/member, who have registered any time during the calendar month, shall start form the date of such registration.
3. Two days waiver shall be available for all registered trading desk/member
4. All members of BSE derivative segment shall be allowed to participate in this scheme.
5. Stock & Index futures instruments approved under LEIPS scheme shall be considered for this scheme
6. Only those trades where client type & client code is ‘OWN’ shall be considered for this scheme.
8. Registration shall be done by the member through BEFS
9. Self trades shall not be allowed (same UCC on both side of the trade)
All other terms and conditions of LEIPS Scheme for Dealer and Proprietary trading desks/members shall remain unchanged.
For any further clarifications, members are advised to contact their designated Relationship Managers.
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Devika Shah
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Sameer Vaze
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Sr.GM – Trading operations
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Manager – Trading operations
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