The NYSE and Amex have each expanded the category of persons with whom DMM unit personnel on the trading Floor may communicate.  Rule 36, Communications Between Exchange and Members' Offices, as amended, also expands the means of permissible communications to include certain written electronic communications between the DMM unit’s post location on the Exchange Floor and specified off-Floor personnel.  The amendments went into effect on 4/11.

        Amendments Described.   Rule 36 provides that no member or member organization shall establish or maintain any
telephonic or electronic communication between the Floor and any other location without Exchange approval.  Rule 36.30 provides a limited exception for DMM units to maintain a telephone line between the post location on the Trading Floor and the off-Floor offices of the DMM unit or the unit’s clearing firm.

The Exchange has amended this section to add that a DMM unit may maintain a telephone line between the post location on the Trading Floor and persons providing non-trading related services to the DMM unit as permitted by Rule 98.  This will enable DMM units to permit Floor-based personnel to communicate directly with persons providing operational support services off-Floor, such as a technology help desk that may be located within an approved person of the DMM unit. Connecting a telephone line to persons providing non-trading related services as permitted by Rule 98 is subject to FINRA approval (on the Exchange’s behalf).

Further, the Exchange has added new supplementary material .31 (“DMM Electronically Transmitted Written Communications”) to Rule 36 to permit DMM units to install and maintain certain written electronic communications applications. Specifically, Rule 36.31(a) permits a DMM unit, subject to FINRA approval (on the Exchange’s behalf) and the conditions set forth in Rule 36.31, to establish and maintain a wired or wireless device capable of sending and receiving written communications electronically through an Exchange-approved connection (a “Permitted Communications Device”).   Examples of Permitted Communications Devices include email and instant messaging via a desktop or laptop computer.  Use of cell phones, Blackberries, and similar devices by DMM’s while on the Trading Floor continues to be prohibited.  

For further details, refer to:   [NYSE IM 11-11, 4/6/11]