12/14/2001
When an order from a customer is received on the Exchange Floor, a written order ticket must be created in accordance with NYMEX Rule 6.18(A)(ii). Please note that the rule requires that the order "shall identify the customer by symbol or number . . ." It is unacceptable to use a symbol or number to identify an Account Executive or a Trading Desk. Likewise, if an authorized cash broker is relaying orders on behalf of customers who maintain active futures accounts, a symbol or number identifying the beneficial owner of the account (the customer) is required for each order. The symbol or number must relate back to an individual customer, not to the person or desk placing orders for customer accounts.
ACCOUNT CODE NECESSARY FOR TRANSFER TO TMS; SHORT CODE EXCEPTION FOR MACHINE ORDERS
Further, NYMEX Rule 9.04(M) requires that "[t]ransfer information containing a customer account number, clearing member number and customer type indicator code, shall be submitted to the Exchange by the executing Floor Member within one hour after the initial transfer information is supplied by the Exchange." An exception is made when the order in question is a machine order. If acceptable to the receiving clearing member, the executing floor entity may use a general account via a short code to effectively bundle the machine orders for purposes of transfer within TMS. The short code must begin with an "M" for machine, followed by the initials of the clearing member.