The Securities and Exchange Commission has approved a proposal by the American Stock Exchange to create a new class of off-floor market makers called “Designated Amex Remote Traders” (DARTs) in all ETF and equity securities traded on Amex. DARTs are Amex members or member organizations that enter electronic quotes into Amex’s AEMI platform on a regular basis in all securities to which they are assigned in the DART program. An Amex specialist firm may also become a DART, but may not be registered as a DART in securities in which it is also a specialist. DARTs will be required to satisfy eligibility criteria similar to those applicable to the Supplemental Registered Options Traders program, including adequacy of resources, a history of stability and operational capacity, the existence of order flow commitments and the ability to interact with order flow in all types of markets.

In addition, Amex will establish minimum requirements applicable to DARTs, which will include performance standards, including that a DART’s quotations must be on one side of the NBBO for a required percentage of time in all of its assigned securities. DARTs who fail to comply with such requirements may lose certain benefits to which they would otherwise be entitled (such as rebates for providing liquidity), including the potential loss or suspension of their DART status.

 http://www.sec.gov/rules/sro/amex/2007/34-56446.pdf