This is with reference to the Exchange Notice No. 20 dated April 16, 2012 regarding Introduction of Liquidity Enhancement Incentive Programme (LEIPS) – IV .Trading Members are hereby informed that the Exchange proposes to amend certain terms and conditions of LEIPS-IV Programme effective June 29 ,2012 as follows-
1. Discontinuation of quote based incentive applicable to Market makers(based on 3,4 and 5 index points) & reintroduction of trading volume based cash incentives to eligible market makers at rate of Rs.1800/- per crore on their passive volume.
2. MMs required to maintain quotes at spread – size ratio of 1 (index points to contracts) for 85% of trading time with maximum spread allowed of 5 Index points (to be eligible for higher incentive rate of Rs. 1800/- per crore on passive volume).
3. Daily volume cap of Rs.830 crores with a per minute cap of Rs.6 crores for first 10 and the last 10 minutes and 2 crores for the rest of the trading day.
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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