In continuation and partial modification of Notice No 26, dated January 13, 2012 regarding revision in terms and conditions of the LEIPS-III Programme with effect from February 01, 2012, trading members are requested to note following clarifications -
Clarification 1 - Daily Open Interest (OI) based Cash Incentives
Daily OI based cash incentives shall be computed based on OI values available at the end of day and shall be as follows -
1. If Exchange OI for Options on any given trading day is less than or equal to Rs.4000 Cr, then incentive for that day shall be paid at a rate of Rs.250 per Cr of Member OI for the day.
2. If Exchange OI for Options on any given trading day crosses Rs.4000 Cr, then incentive for that day shall be paid on proportionate basis from a daily pool of Rs.10 Lakhs.
Clarification 2 – Level 1 Quote Obligations after daily volume cap is breached
Level 1 Quote Obligations to be read as “providing 2-way continuous quote during regular trading hours for 75% of trading time as per Table 1 overleaf even after the volume incentive cap is breached.”
The revised brochure of LEIPS-III Programme is attached herewith.
For and on behalf of
BSE Limited.
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Rajesh Saraf
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Sameer Vaze
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General Manager – Trading Operations
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Deputy Manager – Trading Operations
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