Fillable NYSE Arca, Inc. - Retail Member Organization Application (The New York Stock Exchange)

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NYSE Arca, Inc. - Retail Member Organization Application (The New York Stock Exchange)

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March 2018
NYSE Arca, Inc. - Retail Member Organization Application
Instructions: The completion of this application is required in order for your Firm to participate in the NYSE Arca Retail Liquidity Program
(“RLP”) as a Retail Member Organization (“RMO”), to establish connectivity between NYSE Arca and your Firm, and to ensure that only
employees of your Firm have access to NYSE Arca facilities and systems using your Firm’s connection. To qualify as an RMO, an ETP Holder
must conduct a retail business or route retail orders on behalf of another broker-dealer. For purposes of this program, conducting a retail
business includes carrying retail customer accounts on a fully disclosed basis.
A “Retail Order” is an agency order that originates from a natural person and is submitted to NYSE Arca by an RMO, provided that no change
is made to the terms of the order with respect to price or side of market and the order does not originate from a trading algorithm or any other
computerized methodology.
Please note: If an RMO uses an algorithm to determine to send an existing Retail Order into the NYSE Arca RLP program, such order is
acceptable to the program and is not deemed to have originated from a trading algorithm strictly as a result of the brokerage firm’s algorithm,
provided that the RMO assures that the Retail Order meets the underlying rule requirements, including that the routing algorithm does not
change the terms of the order with respect to price or side of the market. Additionally, the Retail Order provision preventing changes to the
terms of the order (e.g. price or side) is not meant to prevent an RMO from ensuring a better execution experience for the retail customer,
such as by adding a limit to a Retail Order.
An RMO may submit Retail Orders in a riskless principal capacity as well as an agency capacity, provided that (i) the entry of such riskless
principal orders meets the requirements of FINRA Rule 5320.03, including that the RMO maintains supervisory systems to reconstruct, in a
time-sequenced manner, all Retail Orders are entered on a riskless principal basis; and (ii) the RMO does not include non-retail orders
together with the Retail Orders as part of the riskless principal transaction.
See NYSE Arca Rule 7.44-E for a full definition of terms and requirements of the RLP program.
1. Customer Information
Name of Member Firm (“Applicant”)
Business Address
Business Contact Name
Business Contact Phone
Business Contact E-Mail
2. Business and Technology Questions
Does your firm currently send orders to the Exchange using multiple MPIDs?
Yes No
Please identify all MPIDs that will be used to submit Retail Orders.
As an NYSE Arca Member Organization, do you currently have connectivity to the Exchange?
Yes No
Is this connection utilized for order routing, receiving market data or both?
Order Routing
Receiving market data
Both
Is this connection enabled to designate Retail Orders by entering the value “RET” in
Fix Tag 57, or the Binary field: SenderSubID.
Yes
If you are using a Service Bureau (e.g., Order Management System “OMS”) for NYSE Arca
connectivity, please provide the name of the technology provider.
If you are routing retail order flow on behalf of one or more broker-dealer customers, your firm will be required to execute a separate
document with this firm or firms. That document should be kept for your files, and is not required to be submitted to the NYSE Arca
exchange unless requested.
March 2018
Please describe the current business structure of the division within your Firm that qualifies you as an RMO.
Please provide supporting documentation sufficient to demonstrate the retail nature and characteristics of your order flow. For example,
please provide sample marketing literature, website screenshots, and other publicly disclosed materials describing the retail nature of
your order flow, and such other documentation and information as the Exchange may require to obtain reasonable assurance that the
applicant’s order flow would meet the requirements of the Retail Order definition.
3. RMO Supervisory Requirements
By executing this Application, the Applicant attests that substantially all orders submitted by the Applicant as a Retail Order would meet
the qualifications for such orders under NYSE Arca Rule 7.44-E. Applicant further attests that it has in place Written Supervisory
Procedures (WSPs) pursuant to Rule 7.44-E (b)(6).
Such WSPs require Applicant to:
(i) exercise due diligence before entering a Retail Order to assure that entry as a Retail Order is in compliance with the
requirements of this Rule, and
(ii) monitor whether orders entered as Retail Orders meet the applicable requirements. If an RMO represents Retail Orders from
another broker-dealer customer, the RMO’s supervisory procedures must be reasonably designed to assure that the orders
it receives from such broker-dealer customer that it designates as Retail Orders meet the definition of a Retail Order.
The Applicant must:
(i) obtain an annual written representation, in a form acceptable to the Exchange, from each broker-dealer customer that sends it
orders to be designated as Retail Orders that entry of such orders as Retail Orders will be in compliance with the
requirements of this Rule; and
(ii) monitor whether its broker-dealer customer’s Retail Order flow meets the applicable requirements.
Name (Printed)
Name (Signature)
Title
Date
Please return to Client Relationship Services at crs@nyse.com.
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Completed 26 March 2021

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