07/04/2004
Registration: Clerks must be registered with the Membership Department by the Member who is employing the clerk before that clerk can access the trading floor. Members are required to report any changes to the information contained in a clerk's registration application to the Membership Department within 5 business days of the change. If you hire a clerk who has been previously employed by another Member, that clerk must be registered with the Membership Department as your employee. A clerk may be signed in by the employing Member for a maximum of two (2) hours before their badge has been issued.
Termination: Exchange Rule 8.62(F) requires Members to report the termination of any clerk and return the clerk's badge within one business day of termination. Alternatively, clerk badges may also be deactivated by notifying either the Membership Department on the 4th Floor or by contacting Exchange Security.
Please be reminded that the Floor Committee has the authority to issue summary fines for failure to comply with clerk registration and termination procedures. Exchange Rule 8.62 provides for the issuance of a summary fine of $100 per business day for each day a Member has failed to follow the revocation procedures outlined above. A summary fine of $250 may be assessed against a Member for each business day a clerk in their employment is not properly registered.