This is with reference to the Exchange Notice No. 20 dated April 16, 2012 regarding Introduction of Liquidity Enhancement Incentive Programme (LEIPS) – IV and Exchange Notice No. 20120614-12 dated June 14, 2012 regarding Amendment in LEIPS – IV programme. Trading Members are hereby informed that the Exchange proposes to amend certain terms and conditions of LEIPS-IV Programme effective July 27, 2012 as follows-
1. Daily Volume Based Incentive Cap of SENSEX Futures shall be reduced to Rs. 500 crores of exchange trading volume in SENSEX Futures contracts from the existing Rs. 830 crores.
2. The aforesaid Daily Volume Based Incentive Cap for shall be distributed across 375 sessions (of one minute each), such that;
a. For first 10 and last 10 minutes i.e. between 9.15 am – 9.25 am and 3.20 pm – 3.30 pm the per minute cap shall be reduced to Rs. 4 crores of exchange trading volume in SENSEX Futures contracts in the minute from the existing Rs. 6 crores.
b. And rest of the trading day, the per minute cap shall be reduced to Rs. 1.183 crores of exchange trading volume in SENSEX Futures contracts in the minute from the existing 2 crores.
3. Open Interest incentives to be paid at Rs. 100 per crore of member OI in SENSEX futures contracts from existing Rs. 250 per crore.
Please refer to the attached brochure for detailed information on revisions in LEIPS-IV Programme as mentioned above.
All other terms and conditions of LEIPS- IV Programme shall remain unchanged.
For any further clarifications, members are advised to contact their designated Relationship Managers.
For and on behalf of BSE Ltd.
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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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