Pursuant to SEBI Circular CIR/DNPD/5/2011 dated June 2, 2011 (BSE Notice no-20110602-18, Dated June 02, 2011), permitting stock exchanges to introduce Liquidity Enhancement Schemes (LES) for illiquid securities in their equity derivatives segment, the Exchange has launched a series of Liquidity Enhancement Incentive Programmes (LEIPS) with the goal of creating lasting, self-sustaining liquidity in BSE's Futures & Options Segment.
Trading members are aware that the Exchange has launched second programme in the series-LEIPS-II on 26th October 2011.The intention of this programme is to foster development of healthy derivatives order book for the SENSEX, its underlying 30 stocks and BANKEX by maximizing participation across the board both from market participants and investors in general. LEIPS-II programme shall remain in force till 25th April 2012 i.e. 6 months.
Trading members are hereby informed that the Exchange has amended certain provisions of LEIPS-II programme. On this background, the Exchange has consolidated various circulars pertaining to LEIPS-II programme issued from time to time to release a master circular document.
This circular is in partial modification/replacement/consolidation of all the previous notices issues on this subject viz. Notice No 20110907-5 dated 7th September, 2011, Notice No 20110928-1 dated 28th September, 2011, Notice No 20110928-2 dated 28th September, 2011, Notice No 20111011-4 dated 11th October, 2011, Notice No 20111012-27 dated 12th October, 2011, Notice No 20111115-24 dated 15th November, 2011 and Notice No 20111121-26 dated 21st November 2011.
The revised terms & conditions of LEIPS-II programme shall be effective from 16th December 2011.
For any further clarifications, members are advised to contacts their designated Relationship Managers.
For and on behalf of
BSE Limited.
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Rajesh Saraf
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Sameer Vaze
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General Manager – Trading Operations
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Deputy Manager – Trading Operations
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