Definitions for "Alternate Registered Options Principal"
Where necessary to ensure continuous supervision, one or more alternate registered options principals may be approved, who will reprot to the DROP. This individual must be a director, partner, or officer of the Member firm. In the absence or incapacity of the DROP, or when trading activity of the Member requires additional qualified persons in connection with the supervision of the Member's business, this alternate may assume the authority and responsibility of the DROP.