NYSE
Membership
NYSE Equities Membership provides broker-dealers the high-tech solutions needed to make rapid, automated, and anonymous executions. Industry-leading member services experts discover and improve prices, dampen volatility, and add liquidity. Membership brings access to opening and closing auctions for primaries, brand visibility and direct connectivity.
Membership Process
Step 1: Qualify
Membership is available to registered and new U.S. based broker-dealers who obtain a Self Regulatory Organization (SRO) and have an established connection to a clearing firm. Individual investors are not eligible.
Step 2: Fill out the necessary forms
Broker Dealers interested in obtaining Membership in order to trade directly on any one of our Exchanges must complete the NYSE Membership Application and Master User Agreement.
When submitting the Membership Application and all supporting documentation please send via email to Client Relationship Services at [email protected]. Please ensure all attachments are clearly labeled.
Step Three: Connect
Once the necessary Forms have been submitted, you can begin the connectivity process right away. Firms can connect to our markets directly or through a Service Bureau in a number of different ways.
Contact Client Relationship Services using the "Contact Us" button above to explore your options.
Forms and Applications
Forms for Firms
NYSE Membership Application
To be completed by an Applicant seeking Membership to any NYSE Exchange
or if the Applicant is seeking to add a new type of business on an NYSE
Exchange
Application for Market Maker Registration
To be completed by Applicants seeking to conduct Market Maker
activities on any NYSE Exchange
Master User Agreement
User Agreement to be completed by all Member Firms and NYSE Entities
NYSE Authorized Trader Form
To be completed by all Member Firms connecting to the NYSE Pillar
platform to identify personnel authorized to conduct business with the NYSE
Trading Operations Desk
AP Form
To be completed by an entity registering as an Approved Person
Equities Clearing Letter of Consent
Agreement to be completed between a Member and a Clearing Member
wishing to establish a new clearing relationship on any Equities Exchange
Forms for Individuals
Application for Individual Registration and Non-Registered Associated
Person (NRF) Designation
To be completed by Individuals seeking Exchange approval as a Clerk, Floor Broker, Floor Employee, Institutional Broker, Market Maker, Nominee or Voting Designee on any NYSE Exchange
NYSE Market Maker Orientation
The Market Maker Orientation is an introduction to NYSE Market Maker access, obligations, requirements and order types. Please review and certify that you have completed and understand the policies and procedures set forth in the Market Maker Orientation by signing the last page of the PowerPoint and returning it to Client Relationship Services.
NYSE will review this document upon receipt, and Market Maker Registration becomes effective when the applicant receives approval notice from the NYSE.
Market Specific Additional Forms and Applications
NYSE Trading License Application
NYSE Equity Floor Broker Clearing Letter of Consent
NYSE Securities Lending Representative Agreement
NYSE Regulated Only Form For New Member Firms
NYSE Regulated Only Form For Existing Member Firms
Algorithmic Routing Access Agreement
Additional Information
Information Memo 12-10 Amendments of Approved Persons
Membership Fees can be found in our Price List: NYSE Price List
Information Memo - New Membership Application and Updated Process for Material Change in Business
Membership Types
Our unique next-generation trading model includes the following key market participants: Designated Market Makers, Trading Floor Brokers, Supplemental Liquidity Providers and Retail Liquidity Providers.
Designated Market Makers (DMMs) are the only market participants that assume true accountability for maintaining a fair and orderly market:
- DMMs manage a physical auction to combine with an automated auction that includes algorithmic quotes from other DMMs and market participants.
- DMMs are required to meet stringent NYSE depth and continuity standards.
- To encourage participation and bolster market quality, DMMs are on parity with Display Book and floor broker quotes.
NYSE Designated Market Maker Firms
- Citadel Securities LLC
- GTS Securities LLC
- Virtu Americas LLC
Trading Floor Brokers
Brokers on the NYSE Trading Floor combine flexibility, judgment, automation and anonymity with state-of-the-art technology and order management tools.
- Trading floor brokers are positioned at the point of sale during openings, closings and unique intra-day occurrences to execute trades
- Trading floor brokers use e-Broker hand-held devices, e-Quotes, and algorithm programs to achieve individual parity with DMMs and the NYSE Display Book
- Trading floor brokers use handheld order-management devices to identify trader badge numbers, send Instant Messages, and to route all or part of a customer order to an external algo engine
Supplemental Liquidity Providers
Supplemental Liquidity Providers (SLPs) are high-volume trading members who add liquidity to the NYSE. The SLP program rewards aggressive liquidity suppliers who complement and add competition to existing quote providers.
- SLPs must maintain a bid or offer at the National Best Bid or Offer (NBBO) in each assigned security at least 10 percent of the trading day
- SLPs trade only for their proprietary accounts, not for public customers or on an agency basis
- SLPs that post liquidity in an assigned security that executes against incoming orders are awarded a financial rebate by the NYSE
APPROVED NYSE SUPPLEMENTAL LIQUIDITY PROVIDING (SLP-PROP) FIRMS
- HRT Financial LLC
- Jump Trading LLC
- Latour Trading, LLC
- Virtu Financial BD LLC
APPROVED NYSE SUPPLEMENTAL LIQUIDITY PROVIDING (SLMM) FIRMS
- Citadel Securities LLC
- Goldman, Sachs & Company
- Virtu Americas LLC