Membership Process

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:

• Lead Market Makers
• Market Makers
• Market Maker Authorized Traders
• Agency Floor Brokers
• Order Flow Providers

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 crs@nyse.com. Please ensure all attachments are clearly labeled.

Individual Investors

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.

How to Join

General Application Forms

MASTER USER AGREEMENT

OTP FIRM APPLICATION

Broker-Dealers (Corporations, Limited Liability Companies, Partnerships, or Sole Proprietors) applying for an Options Trading Permit (OTP) at NYSE Arca.

OTP SHORT FORM APPLICATION

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.

NYSE ARCA AP FORM

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 REQUEST FORM

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

OTP FLOOR BROKER TERMINATION FORM

NYSE ARCA OPTIONS POSITION TRANSFER FORM

Arca Options Restricted Clearing Numbers

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
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 crs@nyse.com 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.

DESIGNATED GIVEUP REQUEST FORM

Membership Types

Market Makers

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

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.

Market Maker Authorized Trader

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.

Order Flow Providers

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.