Information Memos

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Number 12-13 30 Apr 2012
 
ATTENTION:    
 
TO:   ALL MEMBERS AND MEMBER ORGANIZATIONS
 
SUBJECT:   CHANGE TO FUTURES COMMISSION MERCHANT REPORTING PROCESS

Please show this notice to your compliance officer

Purpose

The purpose of this Information Memorandum is to advise New York Stock Exchange LLC ("NYSE") and NYSE Amex, LLC ("NYSE Amex") (collectively, the "Exchange") equities member organizations that FINRA is implementing a change to the Futures Commission Merchants ("FCMs") reporting process. The content and requirements of member organization's FCM reporting obligations will not change. Rather, FINRA is establishing a new process for member organizations to review and confirm their FCM reporting obligations.

As discussed below, beginning June 1, 2012, member organizations will be required to confirm or make changes to their FCM reporting obligations using the FINRA Reporting Center via the following links  HYPERLINK "https://reportcenter.finra.org" https://reportcenter.finra.org or  HYPERLINK "https://firms.finra.org" https://firms.finra.org.

Discussion

As set forth in Information Memos 11-17 and 10-2, FCMs engaged in program trading of index futures on behalf of member organizations must confirm FCM information a minimum of twice annually, beginning on the last trading days in June and December.  Currently, member organizations confirm this information and make amendments to their FCM affiliations through the Exchange's Electronic Filing Platform ("EFP").

After June 1, 2012, member organizations will no longer be able to make such submissions or changes through the EFP. Therefore, member organizations must make all necessary arrangements to comply with the new process.

Beginning June 1, 2012, all member organizations must utilize the FINRA Report Center via the following links  HYPERLINK "https://reportcenter.finra.org" https://reportcenter.finra.org or  HYPERLINK "https://firms.finra.org" https://firms.finra.org to conduct their FCM review and confirmation, and to make any changes to their FCM affiliations. Upon implementation of the new process, non-FINRA member organizations will be granted access to the reporting center.

The new electronic reporting process will require a FINRA Entitlement Program User ID and password. The FINRA Entitlement Program requires that each member organization designate a Super Account Administrator ("SAA") with authority to create, modify, and/or delete administrator and user accounts for the FINRA applications the member organization uses. Users should contact their member organization's SAA for access requests. The SAA should be able to assist with using and/or establishing a FINRA User ID and password to access the system. SAAs may contact the FINRA Gateway Call Center at (301) 869-6699, or use the following link:  HYPERLINK "http://www.finra.org/Industry/Compliance/Entitlement/p120963" http://www.finra.org/Industry/Compliance/Entitlement/p120963.

Staff Contacts

If you have questions concerning this Information Memorandum please contact:

Larry O'Leary, Market Regulation Department, FINRA, at (917) 281-3099; or

Robert Armetta, Market Regulation Department, FINRA, at (917) 281-3050.


NYSE Regulation, Inc




1. FINRA provides regulatory services on behalf of NYSE Regulation, Inc. pursuant to a Regulatory Services Agreement. Under Exchange Rule 0, member organizations required to submit notifications to the Exchange may submit such notifications to FINRA departments acting on behalf of the Exchange.
2. See Information Memorandum 11-17 (June 27, 2011) Futures Commission Merchant Reporting Obligations  HYPERLINK "http://www.nyse.com/nysenotices/nyse/information-memos/pdf?memo_id=11-17%20" http://www.nyse.com/nysenotices/nyse/information-memos/pdf?memo_id=11-17 and Information Memorandum 10-2 (January 6, 2010) FCM Reporting Obligations  HYPERLINK "http://www.nyse.com/nysenotices/nyse/information-memos/pdf?memo_id=10-2" http://www.nyse.com/nysenotices/nyse/information-memos/pdf?memo_id=10-2


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