This is with reference to the Exchange Notice no.20130517-22 regarding Amendments in LEIPS Scheme for Dealers and Proprietary trading desks/members in Equity and Equity Derivative Segment and notice no 20130612-7 regarding Extension of Dealer and prop desk / member scheme. Trading Members of the Exchange are requested to note that the current Incentive schemes for Dealer and prop desk/ members shall be concluded on July 31, 2013.
Exchange proposes to introduce new dealer incentive schemes with effect from August 01, 2013.
Attributes of the new dealer schemes are as follows.
A) Dealer incentive Scheme 1:-
|
Eligibility
|
Details of the Scheme
|
|
No of ranks eligible for incentive
|
25 dealers all over India (not separate for each region)
|
|
Incentive Structure
|
Rank.1-Rs.5 lakhs,
Rank .2 to rank. 5 – Rs.2 lakhs each
Rank.6 to rank.15 – Rs. 1 lakhs each
Rank.16 to rank.25 – Rs.75000 each
|
|
Turnover qualification norms
|
Daily Rs.3 Crores and Monthly Rs.75 Crores
|
|
Eligible Securities
|
Futures contracts on which LEIPS scheme is running and Equity scrips specified by the Exchange/SEBI from time to time.
|
|
Mode of trading
|
For Futures contracts specified above – All types of mode of trading.
For Equity scrips as mentioned above – Only manual trading type will be available i.e trades form those location codes where 14th digit of the location code is 0 will be allowed (no program/Algo trading will be allowed)
|
|
Type of trades
|
Client and Prop trades both are allowed.
|
B) Dealer incentive Scheme 2:-
|
Eligibility
|
Details of the Scheme
|
|
Min Turnover commitment
|
10 Lacs daily turnover commitment & monthly minimum 5 crores (Equity & Futures both)
|
|
Eligible Securities
|
Futures contracts on which LEIPS scheme is running and Equity scrips specified by the Exchange/SEBI from time to time.
|
|
Incentive amount per dealer ( All India)**
|
Rs.5000 per month up to 840 dealers and if no. of incentive eligible dealers under this scheme crosses total of 840 dealers then incentive shall be paid on pro rata basis to all the incentive eligible dealers.
|
|
Type of trades
|
Client and Prop trades both are allowed (no program/Algo trading will be allowed)
|
Note - A dealer who becomes eligible for incentive under scheme 1 shall not be eligible for incentive under scheme 2.
Other terms and conditions of existing incentive scheme for dealers will also be applicable for both the new incentive schemes for dealers as mentioned above.
For further clarification members are requested to contact their relationship manager
|
Devika Shah
|
Sameer Vaze
|
|
Sr.GM – Trading Operations
|
Manager – Trading Operations
|
|