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Libraries:   FAQs - Market Regulation
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Frequently Asked Questions
  My broker dealer is a member of one or more of the Nasdaq exchanges. What is our requirement for submitting our Annual Audited Financial Statements?
Identification Number 1545

All Nasdaq members are required to submit their Annual Audited Financials through the FINRA Portal. Refer to the following instructions: Annual Audit Automation. Submission through the FINRA Portal satisfies the reporting requirements for all Nasdaq exchanges.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1545
Frequently Asked Questions
  Who at Nasdaq should be contacted with respect to Business Continuity matters?
Identification Number 1546

Please call 215-496-1571 or email optionshelpdesk@nasdaq.com for options related matters and 212-231-5180 or email tradingservices@nasdaq.com for equity related matters.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1546
Frequently Asked Questions
  As an approved Nasdaq member organization, should all representatives of the broker dealer be registered with Nasdaq?
Identification Number 1547

Yes. Nasdaq member organizations are required by rule to register all representatives with any of the Nasdaq exchanges on which it is an approved member. The relevant rules are NQX / BX Rules 1031; PHLX Rule 613; ISE Rule 313, GEMX / MRX Rule 306.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1547
Frequently Asked Questions
  What licenses are required by Nasdaq rules to qualify as Chief Compliance Officer of a member organization?
Identification Number 1548

The Nasdaq exchanges require an associated person of a member organization who holds the title of Chief Compliance Officer to successfully complete the Series 24 qualification exam.

ISE, GEMX and MRX also accept the Series 14 in lieu of the Series 24.

The relevant rules are NQX / BX Rules 1022(a)(1); PHLX Rule 612(a), and Supplementary Material .08(b) to ISE Rule 313, GEMX / MRX Rule 306.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1548
Frequently Asked Questions
  How does my broker dealer pay its monthly invoices?
Identification Number 1562

Nasdaq rules require that all broker dealer members provide an NSCC clearing account number for purposes of collecting, via direct debit, exchange fees.

The relevant rules are NQX Rule 7007; BX Rule 7011; PHLX Rule 909; ISE Rule 213; GEMX / MRX Rule 209.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1562
Frequently Asked Questions
  What is the process for terminating my broker dealer's Nasdaq Stock Market (NQX) membership?
Identification Number 1563

NQX members are required to file, via WebCRD, a full or partial broker dealer withdraw (BDW) removing NQX which begins the 30 day process of termination. Thirty days from the date of the BDW filing, the membership will be terminated and you will receive written confirmation for your records.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1563
Frequently Asked Questions
  What is the process for terminating my broker dealer's Nasdaq BX (BX) membership?
Identification Number 1564

BX members are required to file, via WebCRD, a full or partial broker dealer withdraw (BDW) removing BX which begins the 30 day process of termination. Thirty days from the date of the BDW filing, the membership will be terminated and you will receive written confirmation for your records.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1564
Frequently Asked Questions
  What is the process for terminating my broker dealer's Nasdaq PHLX (PHLX) membership?
Identification Number 1565

PHLX members wishing to terminate their membership should email a request for termination to membership@nasdaq.com. This request should specify the date of effectiveness. Most PHLX terminations will be processed in approximately three business days.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1565
Frequently Asked Questions
  What is the process for withdrawing from one of the Nasdaq options markets (PHLX XL, NOM, BX Options, ISE, GEMX, MRX)?
Identification Number 1566

Members wishing to withdraw from options participation on any of the Nasdaq options exchanges should email a request for termination to membership@nasdaq.com. This request should specify which market the member wishes to terminate and the date of anticipated effectiveness. Most options terminations may be processed in approximately three business days.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1566
Frequently Asked Questions
  Are my broker dealer's monthly trading rights and/or permit fees pro-rated?
Identification Number 1567

No. If a broker dealer is approved or terminates mid-month, they will be assessed the total fee for that month.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1567
Frequently Asked Questions
  If my PHLX broker dealer has a change in its business operation, whom do I notify?
Identification Number 1608

Broker dealers designated to PHLX for regulatory responsibility are required to submit written notification of a change in business operation at least 10 business days prior to the change pursuant to PHLX Rule 610. Written notice should be submitted to the Nasdaq Membership Department at membership@nasdaq.com.

Publication Date*: 6/26/2018 Mailto Link Identification Number: 1608
material_search_footer*The Publication Date reflects the date of first inclusion in the Reference Library, which was launched on July 31, 2012, or a subsequent update to the material. Material may have been previously available on a different Nasdaq web site.
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