Question

In order to currently trade on the floor of the NYSE, members must: a. be registered...

In order to currently trade on the floor of the NYSE, members must:

a. be registered as a floor trader
b. own a seat
c. purchase a trading license
d. be a specialist
e. be designated as a floor broker
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Answer #1

OPTION C

a: There is no need for the member to be registered as a floor trader anymore to trade on NYSE

b: Owning a seat allows one to trade as a borker or floor trader. This is not compulsory.

c: Purchasing a trading license is imperative for trading on the floor of NYSE.

d: It is not necessary for a person to be a specialist. Even an amateur can trade on the floor provided he has the license.

e. Floor broker is different from trader. Floor traders trade on ones own account while broker trades on someone elses account.

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