The Securities and Exchange Commission has approved a proposal submitted by the American Stock Exchange to establish a directed order program. Under the Amex directed order program, qualifying specialists, Registered Options Traders, Supplemental Registered Options Traders, and Remote Registered Options Traders may receive directed orders from Amex members who submit, as agent, customer orders to Amex (Order Flow Providers). In general, the program would provide an enhanced participation to the recipient of the directed order if such recipient (i) submits quotes electronically through Amex’s ANTE system in the options classes in which it is assigned, (ii) complies with its Amex quoting obligations and provides continuous two-sided quotations for no less than 100% of the series of each class for which it receives directed orders, and (iii) is quoting at the best bid or offer on Amex at the time the directed order is received.