The India International Exchange (INX) on November 11, 2024, notified regarding the Introduction of Liquidity Enhancement Scheme (LES) on SENSEX Futures.
The following has been stated:
• The Trading Members who are already registered as Market Maker (MM) in previous LES Scheme will automatically be registered as MM in amended LES Scheme. Trading Members, other than MM will be considered as General Market Participant (GMP). Further MM & GMP:
o It shall fulfil all the eligibility conditions as given in LES notice.
o It shall abide by the letter and spirit of this LES notice (as well as all circulars issued by IFSCA and India INX) to maintain the sanctity of the marketplace.
o They are aware that India INX reserves the right to render any member/Client ineligible for further participation in the programme if the member / Client engages in activities that are detrimental to the development of the market. This can also lead to withholding of incentives and lead to legal proceedings.
o It shall comply with the rules & regulations related to zero rate supply provision mentioned in “The Integrated Goods and Services Tax (IGST) Act, 2017”.
o It understands that India INX has the right to terminate this programme or amend or expand one or more of the conditions laid down in this circular at its discretion.
[Notification No 20241111-1]
