The new competitor to the traditional stock exchanges, MCX Stock Exchange (MCX-SX), whose equity and stock derivatives segment became operational on February 11, would be now offering incentives for brokers and intermediaries to enhance liquidity in illiquid securities in the equity and derivatives segments from next month.
The new generation stock exchange, which has not been able to attract significant volumes since it started equity operations a week ago, will float liquidity enhancement scheme (LES) in equity and equity derivatives segments with effect from March 6, 2013.
Under the scheme, the exchange will offer a trading incentive of Rs 500 per crore for traded value of less than Rs 200 crore per day and Rs 750 per crore for traded value of over Rs 200 crore per day to all participants. Besides, the exchange will also waive exchange transaction fee for passive legs of all trades in the cash segment. Further, in equity derivatives, too, the exchange has introduced incentives for market makers in lieu of providing quotes, maintaining liquidity and open interest in futures and options segment.
Moreover, the exchange will also provide an additional incentive of Rs 100 per day, subject to a maximum of Rs 50 lakh per month, for clients or investors trading in cash and stock futures. However, for this, client should be active and needs to have a minimum turnover of Rs 1 crore in stocks futures during a month, with at least one trade daily in equity cash or stock futures during the month.
MCX-SX, back in December 2012, got commencement certificate from Securities and Exchange Board of India (SEBI) to go ahead with its trading operations as a full-fledged bourse.
| Company Name | CMP |
|---|---|
| ICICI Securities | 841.40 |
| Motilal Oswal Fin | 900.35 |
| Angel One | 2626.00 |
| Share India Sec. | 293.50 |
| SMC Global Sec. | 130.65 |
| View more.. | |
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