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MEMBERSHIP
A “member” is the holder of a Series A-1 Permit
who is associated with a duly qualified and registered member
organization and shall be entitled to all the rights, privileges
and obligations of a member of the Exchange. Permits shall
only be issued to a natural person who meets the eligibility
and application requirements set forth in the By-Laws and
rules of the Exchange. The member confers membership privileges
upon the broker-dealer, partnership or corporation with
which he or she is affiliated, by registering that entity
with the PHLX as a member organization. PHLX members are
not permitted to function as sole proprietors, they must
be affiliated with and conduct their broker/dealer business
as a partnership or corporation.
Series A-I Permits afford access to deal in:
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The PHLX XLE equities trading system, built
to leverage the advances made in equity trading technology
and a more efficient method for executing, displaying, and
routing orders in all National Market System (NMS) Stocks.
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Equity and index options on the PHLX as
a specialist, registered options trader, floor broker or
retail broker via the AUTOM system.
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