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(2 versions)
Jun 14 2010 - Dec 4 2011Dec 5 2011 onwards

Rule 410 Records of Orders

This rule is no longer applicable.

/01 Pre-time stamping

Pre-time stamping of order tickets in connection with block positioning is contrary to Rule 410.
/02 Allocations of Block Orders

Member organizations may accept block orders and permit investment advisors to make allocations on such orders to customers and remain in compliance with Rule 410 provided that the organizations receive specific account designations or customer names by the end of the business day.

This Interpretation applies to (a) outside investment advisers as well as to (b) employees of a member organization who provide investment advisory services on behalf of a member organization acting as an investment adviser. However, in either instance, the investment adviser must be one who is registered under the Investment Advisers Act of 1940 (the "Act") or who, but for Section 203A, would be required to register under the Act. It does not apply to accounts handled by individual registered representatives of member organizations who otherwise exercise discretionary authority over accounts.
/01 Erroneous Reports — Reporting Requirements

Profits resulting from instances where member organizations are allowed to treat an erroneous report to a non- member as though it were an erroneous trade (whether accruing to Floor members or upstairs trading desks), must be forwarded to the NYSE Foundation. When determining the amount of profit to be remitted, it is permissible to deduct transaction costs (such as clearance charges and Section 31 fees) relating to the particular error transaction. Member organizations must prepare and maintain clear and detailed records documenting how the remitted net profit is calculated.

Member organizations are allowed (provided certain conditions are met as described in paragraph (a)(ii) of Rule 411) to treat an erroneous report to a non-member as though it were an erroneous trade if the non-member refuses to accept a correct report.

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