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NOTICES
Notice No.   20130517-22   Notice Date   17 May 2013
Category   Trading   Segment   Derivatives
Subject   Amendments in LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity and Equity Derivative Segment.
 
Content

 

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, Equity Derivative Segment ,Notice no .20130315-25 dated March 22, 2013 regarding Clarification regarding LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity and Equity Derivative Segment and Notice no 20130422-13 regarding Amendments in LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity and Equity Derivative Segment.
 
Following amendments in LEIPS Scheme for Dealer and Proprietary trading desks/members shall be applicable with effect from June 03, 2013
 
 LEIPS Scheme - Dealer:    The current LEIPS scheme for dealers will be divided into 2 schemes with different eligibility criteria. The details of schemes are as follows.

Dealer Incentive Scheme: ( 1)
Eligibility
 Present scheme details
 Details of amendments With effect from June 03,2013
Min Turnover commitment
1.50 crs daily turnover
10 Lacs daily turnover commitment & monthly minimum 10 crores ( Equity  & Futures both)
No of dealers to be Incentivised per region
15
40
Monthly Incentive amount
( Region wise)
Rank 1 - Rs 2.50 Lac
Rank 1 - Rs 1 Lac
Rank 2 to Rank 15 - Rs 1.25 Lacs
Rank 2 :Rs.75,000/-
Rank 3 to 5 Rank:Rs.50,000/-
 6 to 10:Rs.25,000/-
Rank 11 to 40:Rs.15,000/-
Types of trades eligible
Only Client trades
Client & Prop trades ( No program trading allowed)

 
 
 
 

Dealer Incentive Scheme: ( 2)
Eligibility
Details
Min Turnover commitment
10 Lacs daily turnover commitment & monthly minimum 5 crores (Equity & Futures both)
Incentive amount per dealer ( All India)**
Rs.5000 per month up to 840 dealers and pro rata thereafter.
Types of trades eligible
Client & Prop trades (Program trading not allowed)

 
# A dealer who becomes eligible for incentive under scheme 1 shall not be eligible for incentive under scheme 2.
** Examples-
 A) If total numbers of dealers eligible under dealer scheme 2 are 840 or less then each dealer will get Rs.5000.
B) If total numbers of dealers eligible under dealer scheme 2 crosses 840 and becomes 1000 then each dealer will be paid pro rata incentive from poll of Rs.42 lacs
 LEIPS Scheme – Prop Member/desk:  The current LEIPS scheme for prop desk /members will be divided into 2 schemes with different eligibility criteria. The details of schemes are as follows.
     

Prop desk/member Incentive Scheme: ( 1) (Manual and Program trading)
Eligibility
 Present scheme details
 Details of amendments With effect from June 03,2013
Min Turnover commitment
1000 Contracts
1000 Contracts
No of prop desks/ members to be Incentivised.
10
5
Incentive Amount
Rank 1 - 25 Lacs
Rank 2 - 15 Lacs
Rank 3 - 10 Lacs
Rank 4 - 7.5 Lacs
Rank 5 - 5 Lacs
Rank 6 to Rank 10 - 2.50 Lacs
Rank 1 - 20 Lacs
Rank 2 - 15 Lacs
Rank 3 - 10 Lacs
Rank 4 - 7.5 Lacs
Rank 5 - 5 Lacs

 
  

Prop desk/member Incentive Scheme: ( 2) – Only Manual (No program trading allowed)
Eligibility
Details
Min Turnover commitment
500 contracts
No of prop desks/ members to be Incentivised.
5
Incentive Amount
Rank 1 - 5 Lacs
Rank 2 - 2 Lacs
Rank 3 - 1 Lac
    Rank 4 -0.75 Lacs
     Rank 5 - 0.50 Lacs

 
         
  # A prop desk/member who becomes eligible for incentive under scheme 1 shall not be eligible for incentive under scheme 2.
 
Other terms and conditions of LEIPS scheme for dealers and prop members/desk shall remain same.
For further clarification members are requested to contact their relationship manager
 

Devika Shah
Sameer Vaze
Sr.GM –Trading Operations
Manager – Trading Operations