Skip to main content

BSE TO LAUNCH DAILY INCENTIVE SCHEME

Leading bourse BSE will introduce a new incentive scheme for brokers to attract more retail investors to equity derivatives, under which it would pay daily incentives besides existing trading-based payouts. The new daily scheme, under which payouts to brokers for bringing in more retail investors would be linked to open interest volumes in a day, would become effective from September 26, the BSE said in a notice. Earlier, this scheme was scheduled to begin from September 8. Besides, the exchange would also revise its trading-based retail incentive scheme with effect from October 1. This revision was also earlier scheduled to take effect from September 8.
Under the daily incentive scheme, the exchange will pay investors Rs 10 per lot up to a limit of 10 lots per Unique Client Code (UCC) per day, out of its daily pool of Rs 1 lakh.
The scheme is applicable for S&P BSE Sensex Futures & Options contracts, in the near and current month contracts, it noted.
It will also apply to stock futures in the current month.
The existing retail incentive payout based on trading volumes would also undergo some changes from October, wherein changes are being made in the applicable slabs. Under this scheme, brokers' incentive payout depends on number of unique client codes trading on the BSE through them in a given month.
As of now, there are no incentive for up to 99 UCCs in a month. Following the revision, Rs 200 would be paid for 1-100 UCCs in a month. The maximum payout would remain unchanged at Rs 7.5 lakh for 7,501 and above number of UCCs in a month.
"The incentives shall be paid from pool of Rs 20 lakh and if total UCC incentive amount crosses the pool of Rs 20 lakh then incentives shall be paid on pro-rata basis," the notice noted.

Comments

Popular posts from this blog

BIRLAS ENTER TOP LEAGUE WITH $50 BILLION M CAP

The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
There are 29 pu…

DHIRUBHAI ENJOYED IN WEALTH CREATION

Leading businessman Anil Ambani today said more than creating wealth for himself, his father late Dhirubhai Ambani derived greater happiness from creating wealth for masses. "If you ever asked what part of being an entrepreneur he (late Ambani) enjoyed the most, he would say, 'I enjoy creating wealth. But what I enjoy even more is in creating wealth for the people of the country,'" the Anil Ambani Group chairman said while addressing an industry event here. It can be noted that the late Ambani, who had a humble beginning as a primary school teacher's son in Gujarat, is regarded as the father of capital markets and the equity cult, who made millions of investors millionaires with the IPO of Reliance Textile Industries in 1977. A person who had put in Rs 1,000 then in the IPO is worth over a million today, going by the price of RIL. Stating that the launch of Kothari Pioneer Mutual Fund, which was country's first private MF in 1993, was his (Dhirubhai's) id…

BEAR GRIP ON INDIAN STOCK MARKET

RECORDS 1 WEEKLY FALL IN 6 WEEKS
Gripped by fear psychosis due to geo-political aftershocks, key stock market indices were on a sticky wicket for the fifth day today as both Sensex and Nifty fell over 1 per cent to hit their one-month lows. The sharp plunge left investors poorer by over Rs 95,000 crore as the market cap stood at Rs 1,27,08,846 crore. Risk appetite took a hit after the Economic Survey said achieving the high end of the 6.75-7.5 per cent growth projected previously will be difficult. This is markets' first weekly fall in six.
Weakness in the rupee against the American currency and lacklustre global shares dragged down the indices, too. The BSE 30-share Sensex remained in the negative zone and settled down 317.74 points, or 1.01 per cent, at 31,213.59, its weakest closing since July 4. The index had tumbled 794.08 points in the last four sessions. The NSE Nifty after cracking the 9,700-mark to hit a low of 9,685.55, finally settled lower 109.45 points, or 1.11 per cent…