Restricting an OCC clearing number and authorized member organization.
Restricting an OCC Clearing Number
– PHLX Rule 1037, ISE, GEMX, MRX Rules 707, and NOM and NTX Options Rules Chapter VI Section 14 allow Clearing Members to request the Exchange restrict allowable usage of one or more of their OCC clearing numbers.
– To request a restriction on an OCC clearing number, a Clearing Member must submit a completed “Clearing Member Restriction Form” to the Exchange’s Membership Department.
– “Clearing Member Restriction Form” requests will be effective and systematically enforced ninety days after being received by the Exchange once the Exchange’s implementation date has occurred.
– Note, a clearing arrangement subject to a Letter of Guarantee automatically permits the Give-Up of a Restricted OCC Number by the member organization / Member that is party to the arrangement and no further written authorization is required.
Authorized Member Organization / Authorized Member
– A PHLX, ISE, GEMX, MRX, NOM, or NTX Options member organization / Member desiring to Give-Up a Restricted OCC Number must become an Authorized Member Organization / Authorized Member.
– To become an Authorized Member Organization / Authorized Member, the Exchange requires written authorization, in the form of a completed “Clearing Member Restriction Form”, from the Clearing Member permitting the member organization / Member to Give-Up a Clearing Member’s Restricted OCC Number.
