This is with reference to the Exchange Notice No. 20120718-25 dated July 18, 2012 regarding Introduction of Liquidity Enhancement Incentive Programme (LEIPS) – VI for BSE Derivatives Segment. Trading Members are hereby informed that the Exchange proposes to amend certain terms and conditions of LEIPS-VI Programme effective September 06, 2012 as follows –
- Part A – BSE-100 Index Futures contracts
o Revision of spread-size specification of quoting obligations of market makers
- Part B – BSE-100 Index Options contracts
o Revision of spread-size specification of Level 1, Level 2 and Level 3 quoting obligations of market makers
o Change in Daily Volume Based Incentive Caps and applicable incentives rates for GMPs and MMs
o Distribution of the current combined Level 2 and Level 3 Quote Based Incentive pool of Rs. 10,00,000 into Rs. 5,00,000 pool for Level 2 Quote Based Incentives and Rs. 5,00,000 for pool Level 3 Quote Based Incentives
Please refer to the attached brochure for detailed information on revisions in LEIPS-VI Programme as mentioned above.
All other terms and conditions of LEIPS- VI 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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