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Notice No. 273
07/15/2004 |
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| Compliance Advisory Regarding Instant Messaging (IM) - Order Ticket Preparation and Recordkeeping Requirements |
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Exchange Order Ticket preparation and retention requirements apply to ALL ORDERS received for execution on the Exchange floor or on any Exchange Electronic Trading System. Any orders received via Instant Messaging (IM) or other electronic media must have order tickets created upon receipt as if the order was received by telephone and must otherwise comply with all recordkeeping and regulatory requirements.
NYMEX, COMEX and CFTC rules and regulations generally require that when an order is received from a customer a memorandum (order ticket) must be made in non-erasable ink and time stamped upon receipt and upon report of an execution. The rules further specify that such order tickets must be maintained "in permanent form" and remain available for review by the Compliance Department.
Failure to abide by these rules will result in investigation by the Compliance Department and may result in formal disciplinary action.
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| Should you have any questions or require any further information, please contact exchangeinfo@nymex.com |