This is with reference to the Exchange Notice no .20130315-25 dated March 15, 2013 regarding LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity, Equity Derivative Segment ,Notice no .20130315-25 dated March 22, 2013 regarding Clarification regarding LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity and Equity Derivative Segment and Notice no 20130422-13 regarding Amendments in LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity and Equity Derivative Segment.
Following amendments in LEIPS Scheme for Dealer and Proprietary trading desks/members shall be applicable with effect from June 03, 2013
LEIPS Scheme - Dealer: The current LEIPS scheme for dealers will be divided into 2 schemes with different eligibility criteria. The details of schemes are as follows.
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Dealer Incentive Scheme: ( 1)
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Eligibility
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Present scheme details
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Details of amendments With effect from June 03,2013
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Min Turnover commitment
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1.50 crs daily turnover
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10 Lacs daily turnover commitment & monthly minimum 10 crores ( Equity & Futures both)
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No of dealers to be Incentivised per region
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15
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40
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Monthly Incentive amount
( Region wise)
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Rank 1 - Rs 2.50 Lac
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Rank 1 - Rs 1 Lac
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Rank 2 to Rank 15 - Rs 1.25 Lacs
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Rank 2 :Rs.75,000/-
Rank 3 to 5 Rank:Rs.50,000/-
6 to 10:Rs.25,000/-
Rank 11 to 40:Rs.15,000/-
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Types of trades eligible
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Only Client trades
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Client & Prop trades ( No program trading allowed)
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Dealer Incentive Scheme: ( 2)
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Eligibility
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Details
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Min Turnover commitment
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10 Lacs daily turnover commitment & monthly minimum 5 crores (Equity & Futures both)
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Incentive amount per dealer ( All India)**
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Rs.5000 per month up to 840 dealers and pro rata thereafter.
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Types of trades eligible
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Client & Prop trades (Program trading not allowed)
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# A dealer who becomes eligible for incentive under scheme 1 shall not be eligible for incentive under scheme 2.
** Examples-
A) If total numbers of dealers eligible under dealer scheme 2 are 840 or less then each dealer will get Rs.5000.
B) If total numbers of dealers eligible under dealer scheme 2 crosses 840 and becomes 1000 then each dealer will be paid pro rata incentive from poll of Rs.42 lacs
LEIPS Scheme – Prop Member/desk: The current LEIPS scheme for prop desk /members will be divided into 2 schemes with different eligibility criteria. The details of schemes are as follows.
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Prop desk/member Incentive Scheme: ( 1) (Manual and Program trading)
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Eligibility
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Present scheme details
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Details of amendments With effect from June 03,2013
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Min Turnover commitment
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1000 Contracts
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1000 Contracts
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No of prop desks/ members to be Incentivised.
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10
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5
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Incentive Amount
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Rank 1 - 25 Lacs
Rank 2 - 15 Lacs
Rank 3 - 10 Lacs
Rank 4 - 7.5 Lacs
Rank 5 - 5 Lacs
Rank 6 to Rank 10 - 2.50 Lacs
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Rank 1 - 20 Lacs
Rank 2 - 15 Lacs
Rank 3 - 10 Lacs
Rank 4 - 7.5 Lacs
Rank 5 - 5 Lacs
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Prop desk/member Incentive Scheme: ( 2) – Only Manual (No program trading allowed)
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Eligibility
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Details
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Min Turnover commitment
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500 contracts
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No of prop desks/ members to be Incentivised.
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5
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Incentive Amount
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Rank 1 - 5 Lacs
Rank 2 - 2 Lacs
Rank 3 - 1 Lac
Rank 4 -0.75 Lacs
Rank 5 - 0.50 Lacs
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# A prop desk/member who becomes eligible for incentive under scheme 1 shall not be eligible for incentive under scheme 2.
Other terms and conditions of LEIPS scheme for dealers and prop members/desk shall remain same.
For further clarification members are requested to contact their relationship manager
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Devika Shah
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Sameer Vaze
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Sr.GM –Trading Operations
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Manager – Trading Operations
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