Qualifications

Once approved as a BOX Participant, the firm may apply for market maker status on any of the options classes listed on BOX. In general, three criteria for selection will be used by BOX:

• Technical Resources: The Participant must demonstrate that he has adequate trading software to meet the obligations of a BOX Market Maker. This certification process will be performed in conjunction with the BOX Technical Support Services staff and includes a demonstrated ability to process and respond to BOX messages regarding mass-quoting, the Price Improvement Process, and Requests for Quote.
• Human Resources: The Participant may be required to provide details regarding staffing and the experience of the staff in the context of making markets on equity options. Experience in making markets on similar instruments in other equity options markets may be required.
• Financial Resources: The Participant must possess adequate financial assets to enable him to meet the trading obligations of a BOX Market Maker.

The BOX Market Maker appointment is granted in the name of the BOX Participant firm rather than the individual at the Participant firm. This appointment is not transferable.