This is with reference to the Exchange Notice No. 26 dated January 13, 2012 regarding Introduction of Liquidity Enhancement Incentive Programme (LEIPS) – III and notice no 27 dated February 17, 2012 regarding Revision in LEIPS III programme for BSE F&O segment. Trading Members are hereby informed that the Exchange proposes to amend certain terms and conditions of LEIPS-III Programme effective May 02, 2012 as follows-
· Relaxation in quoting obligation for Level 2—Quote Based Obligation for Market Makers.
· Revision in spread and size specification for Level 2—Quote Based Obligation from existing absolute spreads for each moneyness to spreads expressed as a percentage of the bid price.
· Introduction of additional incentive for fulfilling Level 2—Quote Based Obligation in all 14 market making contracts.
· Introduction of Level3—Quote Based Obligation including 3 layered, 2 way quotes in all 14 market making contracts.
Please refer to the attached brochure for detailed information on revisions in LEIPS-III Programme as mentioned above.
All other terms and conditions of LEIPS- III 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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General Manager - Trading Operations
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Dy. Manager - Trading Operations
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