A.     The initial schedule for document requests by parties and responses will be set by the Market Regulation Department. The chairman may require any member, or any person employed by or associated with a member, to produce relevant documents in his possession or control at any time after a claim has been filed.

Upon the failure of a party or member to voluntarily produce relevant documents in its possession or control upon request by a party, the party seeking the documents may submit a written request to the chairman for an order compelling the production of such documents.

1.     Any request for an order compelling production of documents must:

a.     identify each document or type of document sought with as much specificity as possible;

b.     explain the relevance of each document or type of document sought; and

c.     include a representation that the requesting party has attempted to obtain the documents from the responding party before resorting to a request to the chairman.

2.     The party or member against whom an order compelling production is sought shall:

a.     produce copies of the requested documents to the requesting party and the Exchange; or

b.     represent in writing that the documents are not in his possession or control and explain the basis for such representation, and, if applicable, identify who is in possession or control of the requested documents; or

c.     object in writing to a request and provide the basis for each objection.

B.    In connection with any claim, counterclaim, cross-claim or third-party claim that seeks relief in excess of $50,000, any party may seek leave from the chairman to serve written requests for information on any other party. The chairman shall have discretion to determine whether and under what circumstances such requests may be permitted.

C.    The chairman may require any member, or any person employed by or associated with a member, to appear and to testify at a hearing. 

D.    Whenever such production or appearance results from the request of a party, all reasonable costs and expenses incurred shall be borne by the party making the request, unless directed otherwise by the panel. A party who incurs costs and expenses recoverable under this rule may, no later than the close of the last hearing date in the matter, submit an application to the panel for such costs and expenses. Such application shall contain a detailed explanation of amounts claimed. The panel may grant or deny all or any portion of the application.

E.    Any member or employee thereof failing to appear, testify, produce documents or provide information in accordance with this rule may be charged with a violation of Rule 432. (11/29/07)