| Terms & Conditions of LEIPS-II and LEIPS III Programme applicable for special Live Trading Session on , Saturday March 03, 2012 |
In pursuance of notice no 30 dated February 15, 2012, the Trading Members have been informed that LEIPS-II and LEIPS -III shall be extended on the special LIVE trading session in Futures & Options Segment on Saturday March 03 2012.
On this background, following terms and conditions of LEIPS-II and LEIPS III Programme shall be applicable for trading on Saturday, March 03, 2012 -
LIVE trading session for Futures & Options segment shall be for a period of 90 minutes (i.e. from 11.15 a.m. to 12.45 p.m.). Total no of Time Periods and volume incentive cap for the Time Period shall be as follows –
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Total No of Time Periods
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Duration of Each Time Period
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Time Period wise Cap for Futures Trading - LEIPS II
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Time Period wise Cap for Options Trading (Notional volume)-LEIPS III
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Applicable for March 03, 2012
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90
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1 minute
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Rs. 3.2 Crore
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Rs. 13.6 Crore
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Total Volume incentive cap
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Rs. 288 Crore
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Rs. 1,224 Crore
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Total No of Time Periods
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Duration of Each Time Period
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Time Period wise Cap for After Cap MM Passive Side Volume in Futures Trading - LEIPS II
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Applicable for March 03, 2012
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90
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1 minute
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Rs.1.6 Crores
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-
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Total MM Passive Volume incentive cap
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Rs. 144 Crore
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-
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The quote obligations required to be maintained by market maker under LEIPS II & LEIPS III programme shall be based on 90 minutes of trading time.
The Exchange shall compute and process LEIPS incentives for the eligible LEIPS members, as applicable, on Saturday March 03, 2012. However, considering the partial availability of clearing banks for fund transfers on a Saturday, the incentive payouts may not be credited in designated accounts of the eligible LEIPS registered members on the same day. Members are requested to get in touch with their respective clearing banks to check this.
Other terms and conditions of LEIPS-II and LEIPS III schemes, including Level 2 quote based incentives (table attached), shall remain unchanged.
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Spread Specification for SENSEX Options
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Strikes$
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Maximum Permissible Spread (Rs.)
(Current Month Contract)
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Minimum quantity of contracts
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Quote Based Incentive Rate (Level 2)
(Rs.)
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Incentive pool for Strike
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ITM2
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Rs. 3.00
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20
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45000
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570000
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ITM1
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Rs. 2.50
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20
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40000
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500000
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ATM
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Rs. 2.00
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20
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40000
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500000
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OTM1
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Rs. 1.50
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20
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30000
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380000
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OTM2
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Rs. 1.00
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20
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20000
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250000
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OTM3
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Rs. 0.50
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20
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15000
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180000
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OTM4
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Rs. 0.25
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20
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10000
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120000
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Total
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2,00,000
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2500000
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For any further clarifications, members are advised to contacts their designated Relationship Managers.
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Rajesh Saraf
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Sameer Vaze
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GM – Trading Operations
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DM – Trading Operations
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