Notice No.   20130211-15   Notice Date   11 Feb 2013
Category   Trading   Segment   Equity
Subject   Non Payment of incentives for the transactions under the LEIPS scheme where counter party is self i.e same Unique Client Code (UCC).


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 Derivatives Segment.
SEBI vide its circular CIR/MRD/DP/05/2013 dated February 08, 2013, point 11 (b) (BSE notice no 20130211-14, dated February 11, 2013) has informed the Exchanges not to incentivize the trading members   in the form of cash payments, warrants, discount in fees etc for the trades where the counterparty is self, i.e same Unique Client Code (UCC) is on both the sides of the transaction.
In view of the above, Trading Members are hereby informed that the Exchange shall not offer incentives on the trades executed as per the aforesaid SEBI Circular on all the LEIPS schemes under operation.
Aforesaid amendment shall be effective from 12th February 2013
Trading members may please note other terms and conditions of on-going LEIPS schemes shall remain unchanged.
For any further clarifications, members are advised to contacts their designated Relationship Managers.
For and on behalf of
BSE Limited.

Devika Shah
Nikhil Mehta
Sr. GM – Trading Operations
DM – Trading Operations