FUTURES & OPTIONS OPERATIONS

CIRCULAR

Circular No.: NSE/F&O/132/2008

Download No. NSE/FAOP/11735

Date: December 08, 2008

Dear Members,

Sub: High Frequency Market Data for IP Network

The Exchange vide circular No: NSE/F&O/038/2008 (Download No. NSE/FAOP/10453) dated March 13, 2008 intimated about enhancing its current X.25 trading network to an IP based trading network.

After the implementation of the first phase of IP migration, NEAT, NEATPlus and NNF users have successfully connected to trading system using the TAP system. Hence, Exchange has decided to provide high frequency market data feed for Futures & Options Market trading system. This new data feed will be available over the IP Network. This is in addition to the existing market data feed. The member can choose to subscribe to either the existing or the new high frequency feed. The configuration of IP Market data server for high frequency feed will be provided separately.

The same will be implemented from December 11, 2008.

For any clarifications, members are advised to contact the following official:

Mr. Janardhan Gujaran on 26598151 / 52

For and on behalf of

National Stock Exchange of India Ltd.

Suprabhat Lala

Assistant Vice President