594 
APPENDIX 
3. If, by reason of the neglect or inattention of a member, an order to 
sell is not executed when the stock sells at or through its price, and the 
stock declines thereafter, or the reverse, the member should take or supply 
the customer’s stock, as the case may be, at the price of the order, as covered 
by the tape, in which case he is not acting as a broker, and shall charge no 
commission, 
4. If a reporter has not been received from a specialist on an order 
which he should have executed, the specialist is responsible for any loss 
which may be sustained to the opening price of the following day. The 
member or firm giving the specialist the order is responsible for any 
subsequent loss unless the order was for the account of an out-of-town 
member, in which case the foregoing loss should be borne jointly by the 
New York member and the out-of-town member, 
5. If a specialist accepts an order, and later states in writing, or verbally 
to a member, that the order has been executed, the specialist is responsible 
for said execution if it has been covered by the tape. 
6. If an order is received and executed by a specialist and he reports in 
writing, or verbally to a member, that the order was not executed, the 
specialist cannot compel the member to accept a report subsequently. 
7. The price at which an order is executed on‘the Exchange shall be 
binding, notwithstanding the {fact that an erroneous report in respect 
thereto may have been rendered; and no member shall assume or pay any 
part of the difference between the price at which an order is executed and 
the price at which it may have been erroneously reported. (Section 10, 
Chapter II of the Rules.) 
8. A specialist is responsible for all orders which are given by members 
to any person designated by said specialist to receive orders for him. 
Give-Up orders received by wire must be confirmed by both parties 
(see Circular C-1274). 
The stating by a party to a transaction of the name of a member or 
firm, other than the actual contracting parties, is known as a “give-up.” 
(Chapter II, Sec. 8 of Rules.) 
Unless a “give-up” is part of the original bid or offer, the brokers who 
execute the trade are the responsible parties. A floor broker or specialist 
is responsible to the other contracting party unless the “give-up” is part of 
the original bid or offer. (Chapter I, Sec. 14 of Rules.) 
On Order. This term is used when a member has orders from twa 
principals to buy and to sell and not to give up, in which case he must 
add to his name on the report the words “on order.” (Chapter XI, Sec. 1 
of Rules.) 
Commissions must be charged on purchases and sales of securities dealt 
in upon the Exchange under all circumstances, which include orders exe- 
cuted for fellow members during their temporary or other absence from 
the crowd. 
The bunching of selling orders in stocks or bonds by several members, 
one of said members offering and disposing of the entire lot and not 
charging his associates in the sale any commission, is contrary to the 
Commission Law. 
Where a specialist or other member has a joint account with another 
member, members’ rates of commission must be charged upon all trans- 
actions made for said account.