Following SEC approval, NYSE Amex Options will offer technology built on industry leading NYSE Arca architecture. Newly enhanced broker booth and floor broker hand held technology along with robust application interfaces will present NYSE Amex Options participants with speed, transparency and reliability for our Options Market. Now is the time to prepare to participate in the new NYSE Amex Options market.

Key features of the NYSE Amex Options platform:
1. Leading edge technology provides speed, reliability and unlimited bandwidth for quoting;
2. Simplistic Trading Permit registration: no bins or seats;
3. Limited quoting obligations in terms of spread, size and percentage of time in the market;
4. Customer priority size pro-rata;
5. A range of sophisticated order types, including several unique types;
6. Directed order flow;
7. Payment for order flow program;
8. Open outcry solicitation and facilitation; and
9. Co-location offering.

Opportunities
After SEC approval of the new NYSE Amex Options rules, many options traders and firms can choose to do more than simply send orders to NYSE Amex Options. They may become a Market Maker (MM), (Specialist, Floor Market Maker (FMM), or Remote Market Maker (RMM)) or an Agency Floor Broker (AFB). All direct Exchange participants will be required to be Amex Trading Permit (ATP) holders and all ATP holders must apply and meet qualification standards prior to initiation of business with the Exchange. Several classes of ATP holder will be supported by the Exchange and each class has different rights, obligations, and fee structures.

Market Maker Classifications:
NYSE Amex Options will allow an unlimited number of Market Makers (MM) in each class. MMs can stream quotes only in their electronic primary issues, but may enter orders electronically in any issue on the Exchange.

A Specialist is an assigned floor-based market maker responsible for providing two-sided quotes on the Exchange for a participation right. Specialists receive a guaranteed participation right if quoting at the NBBO, subject to customer order priority. Specialists are also required to provide continuous two-sided quotes 90% of the time the Exchange is open for trading. Only one Specialist may be identified for each underlying product.

A Floor Market Maker (FMM) has certain requirements that must be met. Each MM can choose the number of issues they want to trade, restricted only by the number of ATPs they purchase. In addition, FMMs must select a Trading Zone on the Floor as part of their Primary Appointment. Trades effected by open outcry in the appointed Trading Zone are included in calculating the Primary Trading requirement. FMMs are required to provide continuous two-sided quotes in their selected electronic primary appointment issues 60% of the time the Exchange is open for trading.

A Remote Market Maker (RMM) is an ATP Holder who is registered with the Exchange for the purpose of making transactions as a Market Maker from a location off the Floor of the Exchange. Transactions of a Remote Market Maker that are executed through the facilities of the Exchange are deemed to be Market Maker transactions. As with FMMs, RMMs have a 60% quoting obligation.

An Agency Floor Broker (AFB) is entitled to represent orders on the trading floor. The AFB is obligated to report all orders to OPRA within the guidelines established by the Exchange.

A Market Maker Authorized Trader (MMAT) is designated under a specific ATP and is the individual authorized and responsible for trading under that permit. The MMAT is affiliated with a RMM streaming quotes. MMATs must register with the Exchange and pass the appropriate MM exam.

Specialists and MMs are not required to quote all series nor are they required to quote on the Opening Auction, although they must meet their continuous two-sided quote obligation. These obligations apply to all appointed issues collectively, rather than on an issue-by-issue basis and compliance is determined on a per-calendar-quarter basis.

Download NYSE Amex Options: Quick Resource Guide

PDF format, 6MB, 73Pages.

TABLE OF CONTENTS
Important Contact Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Amex Trading Permits (Membership) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Anticipated Application Connectivity (Interface) . . . . . . . . . . . . . 3
Networking Connectivity (Physical Connectivity). . . . . . . . . . . . . . . . . . .  . . . . .4
NYSE offered Co-location Services. . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . 5
Trading Floor Technology Specifications & Guidelines. . . . . . . . . . . . . . 6
Internet Access from the Trading Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Broker Systems (Workstation Application & Handhelds). . . . . . . . . . . . . . . . . . . . 8
Independent Software Vendors (ISV). . . . . . . . 9
Market Data (Ticker & Front End Providers). . . . . . . . . . . . . . . .  . . . . . . . 10
Frequently Asked Questions (FAQs) . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 11
Reference Documents: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
• Market Participant Hardware Installation Alternatives
• Sample Data Flows Network Diagram

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