This is with reference to Notice no 20111130-30 dated 30th November 2011 titled Consolidated Master Circular on LEIPS–II Programme, Notice no. 20111214-11 dated 14th December 2011 titled Revisions in Terms & Conditions of LEIPS-II Programme & Notice no. 20111221-27 dated 21st December 2011 titled Discontinuation of Incentive Cap Alert Messages on BOLT TWS & through IML. In partial modification of these circulars, Trading Members are hereby informed that the Exchange proposes to amend certain terms and conditions of LEIPS-II Programme with a view to infuse greater impetus and focused participation from the market.
The key highlights of these revisions are as under –
1. Only Futures contracts shall be eligible for LEIPS - II incentive programme (SENSEX, its underlying 30 stocks, BANKEX)
2. OI-based cash incentives payment to be paid on daily basis
3. Incentive payment on Pro-rata basis instead of ‘first come first serve’ basis
4. Daily Volume Cap to be Rs. 1200 Cr. (Rs. 3.2 Cr per time period) in Futures
5. Additional incentives to MM on their passive volume done in non-incentive period for up to Rs.600 Cr. (Rs.1.6 Cr per time period)
The amended programme shall be implemented with effect from 1st February 2012. Details of this programme are enclosed herewith as Annexure.
Trading members are requested to make note of these revisions. For any further clarifications, please contact your 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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January 13, 2012
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