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Microsoft Word - Document in 09-32

Microsoft Word - Document in 09-32 - Information Memo...

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Information Memo Market Surveillance NYSE Regulation, Inc. | 11 Wall Street New York, NY 10005 nyse.com Number 09-32 June 25, 2009 TO: ALL NYSE AND NYSE AMEX MEMBER ORGANIZATIONS SUBJECT: Series 15 and Designated Market Maker ("DMM") Examinations - Application Procedures, Training and Educational Requirements, and Registration Qualification Examination Procedures Purpose The purpose of this Information Memo is to remind NYSE and NYSE Amex member organizations and prospective member organizations as to the application procedures, training and education requirements, and registration qualification examination procedures related to the Series 15 and DMM Examinations . This memorandum should be provided by the member organization to each candidate proposed as a Floor broker or DMM. Series 15 Registration The Series 15 Examination is the general membership qualification examination. Passing the examination qualifies the individual as a Floor broker. However, a qualified Floor broker does not become an NYSE or NYSE Amex member until a trading license is issued to them by the Exchange. No one may bid, offer or execute orders, or otherwise conduct business on the Floor, until they have passed the Series 15 Examination and are assigned a license. Passing the Series 15 Examination is a gating requirement for taking the DMM Examination. Application Only member organizations may propose new members. Written application must be made to the NYSE’s Membership and Training Department. Required Operational Training and Regulatory Education – The New Member Orientation Program Following acceptance of the application, proposed candidates must complete the New Member Orientation Program (“NMOP”). NMOP consists of a series of nine sessions. Five are operational in nature and four cover the rules and regulations governing Floor trading. NMOP is offered monthly beginning on the Monday of the
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