(a) Only members of cotton exchanges, grain exchanges, boards of trade, or similar institutions organized under the laws of Arkansas or any other state may provide for their use, and the use of their clients, private or public wires from cities in Arkansas where the cotton exchanges, grain exchanges, boards of trade, or similar institutions are located to other cities outside the State of Arkansas where cotton exchanges, grain exchanges, boards of trade, or similar institutions are operated.
(b) They may receive over the private or public wires, and post for their own use and that of their clients and of any person engaged in the production of cotton, grain, or other commodities, market quotations and market news covering cotton, grain, stock, and other commodities. They may also transmit, for execution, contracts of sale for future delivery.
(c) In all cases it is contemplated that the delivery of the commodity purchased or sold, as the case may be, will be carried out by the principals or other successors or assignees and that the contract for delivery thereof will be performed or discharged according to the rules of the exchange, board of trade, or similar institution where the contract is executed.