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Notices
Notice No20111115-24Notice Date15 Nov 2011
CategoryTradingSegmentDerivatives
SubjectLEIPS II - Introduction of Period Wise Volume Incentive Cap in Futures and Options
Content

 

 

Trading members of the Exchange are requested to refer to notice No -5 dated 7th September 2011 and No -4 dated 11th October 2011 regarding Liquidity Enhancement Incentive Programmes - LEIPS.
LEIPS members are aware that as per LEIPS II scheme daily volume incentive cap is Rs.1000 Crore of Futures turnover and Rs. 500 Crore of Options Premium Values.
Members are hereby informed that the Exchange proposes to revise the daily volume incentive cap to Rs.1200 crore of Futures turnover and Rs 210 crore of Options Premium Values. The said daily volume incentive cap shall be divided in 3 Time Periods of the trading day as follows -

Time Period
Timing
Time Period wise Cap for Futures Trading
Time Period wise Cap for Options Trading (premium volume)
Time Period 1
9:15 am to 11:30 am
Rs. 400 Crore
Rs. 70 Crore
Time Period 2
11:30 am to 01:30 pm
Rs. 400 Crore
Rs. 70 Crore
Time Period 3
01:30 pm to 03:30 pm
Rs. 400 Crore
Rs. 70 Crore
Total
 
Rs. 1,200 Crore
Rs.210 Crore

 If the volume incentive cap assigned for a Time Period is not utilised fully during that Time Period, it shall not be carried forward to the subsequent Time Period(s). In other words, at the start of each Time Period, the maximum Time Period wise volume incentive cap available will be as per the table specified above.
The daily cash volume incentive will be paid based on the Time Period wise volume incentive cap i.e. upto 400 crores in Time Period wise volume in futures and upto 70 crores in Time Period wise volume in options.
The minimum payout logic, which comes into effect when the daily volume incentive cap is hit, will be computed Time Period wise. However the cumulative minimum payout for the day shall not exceed Rs. 5000 (Rs. 2500 for Futures and Rs. 2500 for Options).
Aforesaid amendments in LEIPS II programme will be effective from 1st December 2011.
Trading members may please note other terms and conditions of LEIPS II scheme shall remain unchanged.
 

Rajesh Saraf
Sameer Vaze
GM - Trading Operations
DM - Trading Operations