Broker Dealers interested in obtaining NYSE Arca Options Membership must complete the application and agreements in order to trade on the NYSE Arca Options trading platform and become an Options Trading Permit (OTP) Holder.
Trading rights are granted through Options Trading Permits (OTPs). An OTP entitles you to trade options on the NYSE Arca Options facilities, including the electronic platform and the physical trading floor. The NYSE Arca platform is available to five types of market participants:
Every individual or organization applying for an OTP must complete an Exchange prescribed application and General Application Forms 1 and 2, as applicable. Other documents listed may be completed based on your organizational structure and intentions in trading on the facilities of the Exchange.
For questions regarding the application, supporting documentation, or process, please feel free to contact Client Relationship Services using the "Contact Us" button below.
The application and all supporting documentation should be sent via email to Client Relationship Services at [email protected]. Please ensure all attachments are clearly labeled.
At this time, retail investors do not have direct access to NYSE Arca. If you are a retail investor, please contact your brokerage firm to inquire whether it routes orders to NYSE Arca. You can gain entry to NYSE Arca through a direct-access brokerage firm.
If you need additional assistance please contact Client Relationship Services.
OPTIONS CLEARING LETTER OF CONSENT
Broker-Dealers (Corporations, Limited Liability Companies, Partnerships, or Sole Proprietors) applying for an Options Trading Permit (OTP) at NYSE Arca.
To qualify for Short Form Options Trading Permit (OTP) Membership on NYSE Arca, the applicant must be an approved NYSE Arca Equities Trading Permit (ETP) Holder. Current ETP Holder applicants are eligible for expedited approval by completing this application.
NYSE ARCA OPTIONS LEAD MARKET MAKER APPLICATION
This is an application to become a registered Lead Market Maker. Prior to submitting the application, an applicant Broker-Dealer must complete the Options Trading Permit (OTP) application.
This application is used for persons required to be Approved Persons with the Exchange for NYSE Arca DEA applicant firms, and for whom the required disclosure information is not available on Web CRD.
NYSE ARCA OPTIONS REGISTERED TRADER AND NOMINEE APPLICATION
OTP FLOOR EMPLOYEE REGISTRATION REQUEST FORM
OTP MARKET MAKER LETTER OF GUARANTEE
OTP FLOOR BROKER LETTER OF AUTHORIZATION
OTP MARKET MAKER TERMINATION FORM
OTP ORDER SENDING AND CLEARING FIRM TERMINATION FORM
OTP MARKET MAKER LETTER OF GUARANTEE REVOCATION
OTP FLOOR BROKER LETTER OF GUARANTEE REVOCATION
Effective August 1, 2019, clearing firms may file to restrict their OCC registered clearing numbers for give up business on NYSE Arca Options by submitting the NYSE Arca OTP Clearing Firm Restriction Form. Once a Restriction Form is filed, the clearing firm name and restricted clearing number will be added to the list below. OTP Firms have 90 days to reach out to the clearing firm to request authorization to give up a restricted clearing number.
NYSE ARCA OTP CLEARING FIRM RESTRICTION FORM
NYSE ARCA OPTIONS AUTHORIZATION OR REVOCATION OF RESTRICTED CLEARING NUMBER
| Restricted Clearing Firm Name | Restricted OCC Clearing Number |
|---|---|
| BofA Securities, Inc. | 0161 |
| BofA Securities, Inc. | 0792 |
| Interactive Brokers LLC | 0017 |
| Goldman Sachs & Co. LLC | 0010 |
| Goldman Sachs & Co. LLC | 0200 |
| Goldman Sachs & Co. LLC | 0840 |
| Merrill Lynch, Pierce, Fenner & Smith, Inc. | 0671 |
| Merrill Lynch Professional Clearing Corp | 0519 |
| Merrill Lynch Professional Clearing Corp | 0540 |
| Merrill Lynch Professional Clearing Corp | 0551 |
| Merrill Lynch Professional Clearing Corp | 0552 |
| Merrill Lynch Professional Clearing Corp | 0598 |
| X-Change Financial Access, LLC | 0007 |
If you are an OTP Firm, and require authorization for a restricted give up, please contact Client Relationship Services at [email protected] for the clearing firm’s contact information.
If you are an OTP Firm, and require access to an unrestricted give up, please submit the NYSE Arca Options Designated Give up Notification Form.
A Market Maker is an OTP holder or firm registered with NYSE Arca to submit quotes electronically and make transactions as a dealer-specialist. Market Makers can operate from on or off the trading floor.
Lead Market Makers (LMMs) are Market Makers with more stringent obligations. In some cases, they receive participation guarantees. LMMs operate on or off the trading floor and perform Floor Broker functions if they meet specific requirements. Any OTP holder or firm registered as a Market Maker may apply to become a LMM. They must maintain specified cash or liquid assets based on the number of issues traded.
A Market Maker Authorized Trader (MMAT) is licensed to enter quotes and orders on NYSE Arca for the account of a registered Market Maker firm. An MMAT can be an individual OTP holder or officer, partner, employee, or a trader associated with the OTP firm. A passing score on the appropriate Market Maker exam is required.
If your firm currently enters option orders on NYSE Arca, no additional OTPs or changes are necessary.
Current Equity Trading Permit (ETP) holders on the NYSE Arca equity Platform who wish to enter options order can do so by acquiring an OTP.
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