Guidelines for Liquidity Enhancement Schemes (LES) in Commodity Derivatives Contracts

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....ity Derivatives Contracts 1. SEBI vide its circular CIR/MRD/DP/14/2014 dated April 23, 2014, has prescribed revised guidelines for Liquidity Enhancement Schemes (LES) in Equity Cash and Equity Derivatives segments. 2. Based upon feedback from exchanges, it has been decided to permit LES in commodity derivatives contracts subject to the requirements stipulated vide abovementioned SEBI Circula....

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....ES on the same derivative product, unless the exchange where the product is liquid, has itself also launched a LES on said product. 3.3. For the present, schemes which incentivise brokers based on activation of new UCC (Unique Client Codes), number of trades or open interest shall not be permissible under LES. 3.4. Exchanges shall put in place a mechanism to ensure that the LES d....