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Notice No20120417-23Notice Date17 Apr 2012
SubjectRevision in Terms & Conditions of LEIPS-III Programme for BSE F&O Segment effective May 02,2012


This is with reference to the Exchange Notice No. 26 dated January 13, 2012 regarding Introduction of Liquidity Enhancement Incentive Programme (LEIPS) – III and notice no 27 dated February 17, 2012 regarding Revision in LEIPS III programme for BSE F&O segment. Trading Members are hereby informed that the Exchange proposes to amend certain terms and conditions of LEIPS-III Programme effective May 02, 2012 as follows-
· Relaxation in quoting obligation for Level 2—Quote Based Obligation for Market Makers.
· Revision in spread and size specification for Level 2—Quote Based Obligation from existing absolute   spreads for each moneyness to spreads expressed as a percentage of the bid price.
· Introduction of additional incentive for fulfilling Level 2—Quote Based Obligation in all 14 market making contracts.
· Introduction of Level3—Quote Based Obligation including 3 layered, 2 way quotes in all 14 market making contracts.
 Please refer to the attached brochure for detailed information on revisions in LEIPS-III Programme as mentioned above.
All other terms and conditions of LEIPS- III Programme shall remain unchanged.
For any further clarifications, members are advised to contact their designated Relationship Managers.
For and on behalf of BSE Ltd.,

Rajesh Saraf
Sameer Vaze
General Manager - Trading Operations
Dy. Manager - Trading Operations