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Notices
Notice No20111011-4Notice Date11 Oct 2011
CategoryTradingSegmentDerivatives
SubjectRevisions to Liquidity Enhancement Incentive Programmes – LEIPS
Content

The circular lists revisions to the terms and conditions of the LEIPS (BSE Notice No - 20110907-5). The changes will be effective starting 26th October, 2011. 

 
Amendments in LEIPS I and LEIPS II
·         Payouts will continue to be capped for a maximum of 10 contracts per trade for futures. Payouts for options will now be capped for a maximum of 200 contracts per trade.
·         BANKEX futures and options will be added to the list of instruments for which incentives will be paid – in addition to futures and options on SENSEX and the underlying 30-SENSEX stocks.
·         Incentive payouts (for both volume and Open Interest) have been extended from trades in the current month to trades in the current, near, and far months.
·         Eligibility conditions have changed.   Members will not be required to continuously quote for a period of 20 days to become a Market Maker in a security. The other eligibility conditions remain.
·         Options Spread Obligations have been revised. The new options obligations are shown below.

Table 1—Options Spread Specification 

SENSEX, BANKEX & Stock Options
   Bid Prices of Premium (Rs)
Maximum Spread (Rs.)
(Current Month Contract)
0—100
8.00
100—250
12.00
250—500
16.00
>500
20.00
 
Amit Shrivastava
Business Development
Date: October 11, 2011 
 
Attached - Revised Annexure II - LEIPS-II and Contact list.
Attachments
Annexure II - LEIPS-II (11th Oct).pdf
Annexure III - Contacts (11th Oct).pdf