12/11/2006
Wireless Headsets:
Members:
- All Members are entitled to use or to assign a clerk to use a Wireless Headset.
- Wireless Headsets can be used by EITHER the Member or the clerk who is a registered NBA, NOT BOTH.
- Members can talk to anyone on or off the floor.
- Members cannot accept customer orders over the headset in the ring.
- Headsets are not required to be recorded.
- Cost: $250 per month.
- ONLY a clerk who is a registered NYMEX Broker Assistant “NBA” (see below) who is an employee of the Member.
Members:
- A Member can hold a tablet.
- A Member can trade any market (NYMEX complex; others where authorized by PCM Guarantor).
- A Member can execute customer orders on a Tablet:
- Type 2 and 4 trading is permitted, however, Member or registered NBA must still create a floor order ticket in compliance with existing order ticket requirements.
- Type 3 transactions for another Member are permitted, but must create an order ticket.
- With regard to type 2, 4 and 3 trading cited above, the Floor Member may utilize a suspense account and reallocate the transaction. A Compliance Advisory citing the standards for the use of suspense accounts by Floor Members for this business will be distributed under separate cover.
- Clearing Firm must retain all log files (transaction logs) pertaining to electronic trading in accordance with prevailing regulatory rules.
- A Member agrees to allow Clearing Firm to supply transaction log to Exchange Compliance Department upon request, for all trades executed regardless of market or venue of execution.
- Must be associated with a Member (Employee)
- Must be registered as an NBA or NTA
- Must stand in designated areas as prescribed by the NBA/NTA Program
- NBA may have tablet in addition to the Member having tablet.
- NBA must be uniquely identified by wearing Badge (PROCESS BEING ROLLED OUT).
- NBA must have separate log on—cannot use same log on and sender sub ID as Member.
- NBA must stand in close proximity to the Broker (behind the Broker, outside the pit, NOT IN A BOOTH).
- NBA can execute type 2, 3 and 4 business as approved by the Member provided order ticket is created.
- NBA can wear headset and hold tablet.
- NBA can be on regular phone (Land Line) and hold tablet.
- NBA can execute with discretion ONLY if appropriately registered with the NFA --AP, Floor Broker or other permissible registration category. Order ticket must denote "DV" for "Discretion Venue." This is same standard for a Member executing with discretion.
- NBAs are prohibited from trading for themselves or making trading decisions for the Member’s personal account or placing orders in the electronic market for the account of the registered Member.
- $250 application fee.
NYMEX Trader Assistant (NTA)
- NTA must be uniquely identified by wearing Badge (PROCESS BEING ROLLED OUT).
- NTA must be tethered to an approved NTA booth.
- NTA must be registered to a Member (Employee of Member).
- NTA must execute orders on behalf of that Member or that Member’s POA account if that is what the Member uses as a proprietary trading account.
- All trades must belong to the Member or to the POA account used by the Member.
- NTA can trade any market for the Member.
- If permitted by the Member, NTA can trade with discretion on behalf of that Member
- NTA can accept type 3 orders for another Floor Member if permission given by the registering Member.
- $250 application fee.
- Monthly booth fee.
- The NYMEX miNY designee program will cease to exist.
- All designees will become NTAs.
- New badges will be issues to NYMEX miNY designees.
- No new paperwork will need to be issued or filled out.
- Rules enforced by designated Exchange employees (Compliance and Floor Staff) or Floor Committee.
- Sponsoring Floor Member is responsible for all actions of the NBA or NTA.
- All NBA/NTA must operate in specifically assigned designated areas only.
- Operating outside of specifically assigned designated area will result in fines being levied against sponsoring Broker.
- Two (2) signatures required for all fines.
- Fine Schedule:
- 1st Offense – Warning Letter
- 2nd Offense – $1,000 Fine - registration revoked
- Member sponsoring the NBA or NTA responsible for all fines
- Fine and revocation may be appealed by the NTA/NBA or the Member as per established Floor Committee standards.