The National Stock Exchange (NSE) on MAY 16, 2026, notified regarding the Liquidity Enhancement Scheme – Silver Options on Goods.
The following has been stated:
• It has re-invited bids for the appointment of Market Maker 3 (MM3) and Market Maker 4 (MM4) under the Liquidity Enhancement Scheme (LES) for Silver (30 kg) Options contracts, in line with the Securities and Exchange Board of India guidelines on liquidity enhancement in commodity derivatives. Eligible trading members with a minimum net worth of ₹5 crore, no major disciplinary action in the past year, and registered algo trading capability in the NSE commodity segment can apply by May 20, 2026.
• Existing market makers or related entities are not eligible. Selected market makers will be appointed from June 1, 2026, to August 26, 2026. They shall provide continuous two-way quotes in specified call and put option strikes with minimum lot and spread obligations for at least 85% of trading time each month.
• The scheme also prescribes detailed quote spread limits, rollover obligations, and performance-based incentive deductions for lower presence levels. NSE may terminate market makers for non-compliance, and a ₹5 lakh penalty will apply if services are discontinued within two weeks of empanelment. Eligible incentives are fixed at ₹60 lakh per month for MM3 and ₹25 lakh per month for MM4, subject to the fulfilment of all obligations.
[Notification no. - NSE/COM/74234]
