11/16/2004
Each broker's overall monthly outright and spread trade submissions must be at or above the 80% standard of compliance required by the Exchange. Please be reminded that failure to achieve an 80% compliance rate based on pit card submissions for outright and spread trades will result in the issuance of sanctions, either warning letters or fines, on a monthly basis. The present sanctioning guidelines will apply to substandard submissions of sell transactions for both outrights and spreads.
Members who are unfamiliar with the audit trail rules or who would like a refresher class concerning pit card submission procedures may attend a class on Tuesday, November 30, 2004 in Room 1010 at 3:00 PM. The audit trail process will be reviewed and strategies suggested for achieving an overall passing percentage.