Technology Programme for the financial year 2013-14 – Master Circular

• Notice No: 20130904-32
• Notice Date: 04 Sep 2013
• Category: Trading
• Segment: Derivatives

We refer to Exchange Notice no. 20130429-22 dated April 29, 2013 regarding Technology Programme for the financial year 2013-14 – Master Circular.

This is to inform all the trading members that the Exchange has on-boarded a new vendor M/s uTrade Solutions Pvt. Ltd. in the Algo software vendor category under Technology Programme with effect from 1^st September 2013.

The Exchange has also revised the existing volume commitment figures with effect from 1^st August 2013.

Terms and conditions of the programmes:

A.      Technology Facility – uTrade ids- Algo

Below mentioned strategies are available with the uTrade’s trading application.

a)      Bidding / market making for stocks, futures and options with any BSE reference instrument and hedging with any BSE underlying

b)      Cash - Cash arbitrage (BSE vs other Indian exchange(s))

c)       Cash future (for BSE only, or BSE with other Indian exchange(s))

d)      Future-future (for BSE only, or BSE with other Indian exchange(s))

e)      Implied Volatility based strategy.

Strategies shall be made compatible with existing and upcoming LEIPS programme.

For any queries on the above mentioned strategies please contact the below mentioned official from uTrade Solutions:

Name	Email id	Contact nos.
Kunal Nandwani	[e-mail]	[phone]

                Volume Commitment:

·         Per uTrade Id - monthly volume commitment of Rs. 400 Crores in BSE equity derivatives segment i.e. 100 crs in Futures (or) 400 crs in Options or a combination of both 400 crores with a multiple factor of 4 for Futures.

·         Members who fail to meet the said volume commitments shall be charged Rs. 5,000 + taxes as applicable per uTrade Id per month.

·         The members who avail this facility would have a minimum lock in period of 3 months once the Ids are issued to the member before they can discontinue the same.

B.      Technology Facility – Greeksoft (GATS) ids -Algo

Below mentioned strategies are available in the GATS trading application.

·         a)      Cash to Future

·         b)      Future to Future

·         c)       Cash to Cash

·         d)      IV & ITM Order Entry with Delta Hedging

·         e)      IV Based Spread Order

·         f)       Option Strategy

·         g)      Market Making

Note:

1)      To use the "Inter Exchange Strategy", trading member has to take approval from the concerned Exchange. It is trading member’s responsibility to use only those Inter Exchange Strategy for which Exchange(s) approval is taken. Greeksoft Technologies Pvt. Ltd as a vendor shall take all steps in assisting trading member in obtaining such approval(s).

2)      For Inter Exchange Strategy - There will be a complete waiver of Initial set up cost for members applying through BSE.

Relevant terms & conditions mentioned in Exchange circular shall prevail at all time.

For any queries on the above mentioned strategies please contact the below mentioned official from Greeksoft Technologies:

Name	Email id	Contact nos.
Nirav Mehta	[e-mail]	022-40421025/26 & 9167197731

Volume Commitment:

• Per GATS Id - monthly volume commitment of Rs. 400 Crores in BSE equity derivatives segment i.e. 100 crs in Futures (or) 400 crs in Options or a combination of both 400 crores with a multiple factor of 4 for Futures.
• Members who fail to meet the said volume commitments shall be charged Rs. 15,000 + taxes as applicable per GATS Id per month.

C.      Technology Facility – Netmagic IT Solutions -Co-location Racks and Servers.

Following will be the server configuration & volume commitment for the members availing server facility with amount to be debited to the member incase volume commitment are not met (Per server per month) + applicable taxes.

Server Offering/Configuration	Monthly Volume Commitment (Rs. In Crores)	Charges to be debited (in Rs.)
PowerNet HP/Dell/IBM Brand Servers, 1 XIntel Xeon Hexcore,8 GB RAM,2 X 300 GB SAS HDD, RAID 5,2 NIC Ports, DVD, RPS,CentOS,2 IP Address,24x7 OS Management	Futures - 250 Crs Or Options – 1000 Crs Or Combination of both 1000 Crs with a multiple factor of 4 for Futures	18,012
Xtremenet HP/Dell/IBM Brand Servers, 2 XIntel Xeon HexCore , 16 GB RAM,3 X 300 GB SAS HDD, RAID 5,2 NIC Ports, DVD, RPS,CentOS,2 IP Address,24x7 OS Management	Futures - 500 Crs Or Options – 2000 Crs Or Combination of both 2000 Crs with a multiple factor of 4 for Futures	25,160
Poweredge HP/Dell/IBM Brand Servers, 2 XIntel Xeon HexCore Processor,64 GB RAM,6 X 300 GB SAS HDD, RAID 5,2 NIC Ports,DVD, RPS,CentOS,2 IP Address,24x7 OS Management	Futures - 1000 Crs Or Options – 4000 Crs Or Combination of both 4000 Crs with a multiple factor of 4 for Futures	33,332

The members who avail this facility would have a minimum lock in period of 6 months before they can discontinue the same.

In case member wants to discontinue the services, they are required to give 1 month prior notice.

4. Technology Facility – ODIN and DIET ids.

First 5 ids shall not have any volume commitment. For additional Ids thereafter there will be a minimum volume commitment of Rs. 5 Crores per Id per month.

BSE does not guarantee or solicit any particular vendor or software/hardware performance. Any trading related or other risks arising out of usage of the said facility are the sole responsibility of the trading member.

BSE reserves the right to modify/withdraw/cancel the offer at anytime without any notice.

Members desirous of availing the facility under technology scheme may fill up the form (Annexure-1) and submit it to their respective relationship managers.

Attachments:

Annexure I – Application Form

Annexure II – Detailed document for strategy GATS

Annexure III – Detailed document for strategy uTrade

For and on behalf of BSE Ltd,

Devika Shah	Sridhar Menon
Sr. GM – Trading Operations	Dy. Manager – Trading Operations