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NYSE to Brokers: Hey, No Gambling in the Casino!.

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NYSE to Brokers: Hey, No Gambling in the Casino!.

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Aurora, Il USA
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Yesterday, NYSE Regulation, the organization that oversees trading on the New York Stock Exchange and its affiliates, issued a stern warning to members: “promoting or participating in certain gambling activities on NYSE premises…is strictly prohibited.”

The regulatory memo stipulates that “book making, numbers games, or other organized for-profit betting activity relating to sporting activities, other outside events or games of chance” are verboten under the rules of the exchange.
The exchange’s telephones and computers mustn’t be used for “any prohibited gambling activities,” although using them to flip stocks is, of course, just fine.

“Further,” intones the memo, “the display or visible possession of gambling devices such as pool boxes, betting slips, etc. used in any gambling activity is also strictly prohibited on the Floor or other premises under NYSE control.”

A spokesman for NYSE Euronext, which operates the exchange, says, “This is nothing more than a standard reminder on our policy.” He adds that similar memos have gone out in earlier years and that the warning is directed mainly at brokers and NYSE employees who place bets on the NFL playoffs.

We are nevertheless reminded of the immortal words of Claude Rains’s character Captain Renault in Casablanca: “I’m shocked, shocked to find that gambling is going on in here!”

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