On July 13th, the SEC disapproved the New York Stock Exchange's and NYSE Amex's individually submitted proposals to codify certain traditional trading floor functions that may be performed by designated market makers ("DMMs") and to permit DMMs and Floor brokers access to disaggregated order information. The SEC was particularly concerned by the proposals' provisions giving DMMs and Floor brokers access to potentially valuable information about Exchange orders generated both on and off the Floor without requiring any additional obligations from DMMs and Floor brokers. Commenters and the SROs made general arguments that the proposals would facilitate the ability of DMMs and Floor brokers to perform important trading floor functions, such as bringing together market participants seeking to trade large orders or assisting Floor members in the event they experience a technical failure. However, neither the SROs nor the commenters explained how the disaggregated information about public orders on the Exchange books as well as Floor broker e-Quotes would further legitimate Floor functions. SEC Release No. 34-67437.