Issuer Delisting; Notice of Application of TurboChef Technologies Inc. To Withdraw Its Common Stock, $.01 Par Value, From Listing and Registration on the American Stock Exchange LLC File No. 1-32334, 37449-37450 [E5-3369]

Download as PDF Federal Register / Vol. 70, No. 124 / Wednesday, June 29, 2005 / Notices 551 for the Shirley Basin South site. ML051660331. These documents may also be viewed electronically on the public computers located at the NRC’s PDR, O 1 F21, One White Flint North, 11555 Rockville Pike, Rockville, MD 20852. The PDR reproduction contractor will copy documents for a fee. Dated in Rockville, Maryland, this 17th day of June 2005. For the Nuclear Regulatory Commission. Richard Weller, Senior Project Manager, Fuel Cycle Facilities Branch, Division of Fuel Cycle Safety and Safeguards, Office of Nuclear Material Safety and Safeguards. [FR Doc. 05–12849 Filed 6–28–05; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION Issuer Delisting; Notice of Application of Brooke Corporation To Withdraw Its Common Stock, $.01 Par Value, From Listing and Registration on the American Stock Exchange LLC File No. 1–13698 June 22, 2005. On June 13, 2005, Brooke Corporation, a Kansas corporation (‘‘Issuer’’), filed an application with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 12(d) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 12d2–2(d) thereunder,2 to withdraw its common stock, $.01 par value (‘‘Security’’), from listing and registration on the American Stock Exchange LLC (‘‘Amex’’). On April 14, 2005, the Board of Directors (‘‘Board’’) of the Issuer approved a resolution to withdraw the Security from listing and registration on Amex and to list the Security on the Nasdaq National Market (‘‘Nasdaq’’). The Board believes that it is in the best interest of the Issuer and its shareholders to withdraw the Security from listing and registration on Amex and to list the Security on Nasdaq, because the Issuer believes that it will benefit from increased visibility to investors and an efficient electronic trading platform. The Issuer stated that it has been informed that its application to list the Security on Nasdaq has been approved. The Issuer stated that it has met the requirements of Amex’s rules governing an issuer’s voluntary withdrawal of a security from listing and registration by complying with all the applicable laws in effect in Kansas, in which it is incorporated. The Issuer’s application relates solely to the withdrawal of the Security from listing on Amex and from registration under section 12(b) of the Act,3 and shall not affect its obligation to be registered under section 12(g) of the Act.4 Any interested person may, on or before July 18, 2005, comment on the facts bearing upon whether the application has been made in accordance with the rules of Amex, and what terms, if any, should be imposed by the Commission for the protection of investors. All comment letters may be submitted by either of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/delist.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include the File Number 1–13698 or; Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–9303. All submissions should refer to File Number 1–13698. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (http://www.sec.gov/rules/delist.shtml). Comments are also available for public inspection and copying in the Commission’s Public Reference Room. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. The Commission, based on the information submitted to it, will issue an order granting the application after the date mentioned above, unless the Commission determines to order a hearing on the matter. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5 J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–3368 Filed 6–28–05; 8:45 am] 1 15 2 17 17:40 Jun 28, 2005 Jkt 205001 Issuer Delisting; Notice of Application of TurboChef Technologies Inc. To Withdraw Its Common Stock, $.01 Par Value, From Listing and Registration on the American Stock Exchange LLC File No. 1–32334 June 22, 2005. On June 13, 2005, TurboChef Technologies Inc., a Delaware corporation (‘‘Issuer’’), filed an application with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 12(d) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 12d2–2(d) thereunder,2 to withdraw its common stock, $.01 par value (‘‘Security’’), from listing and registration on the American Stock Exchange LLC (‘‘Amex’’). On March 7, 2005, the Board of Directors (‘‘Board’’) of the Issuer unanimously approved a proposal to withdraw the Security from listing on Amex and to list the Security on the Nasdaq National Market (‘‘Nasdaq’’). The Issuer stated that the reason for such action is that the Issuer believes that with respect to its own securities and stockholders, the trading system and involvement of market makers on Nasdaq is preferable to the Amex system of specialists, and a Nasdaq listing may be more attractive and provide the Issuer more exposure to potential investors. The Issuer stated in its application that it has met the requirements of Amex Rule 18 by complying with all applicable laws in effect in the state of Delaware, in which it is incorporated, and provided written notice of withdrawal to Amex. The Issuer’s application relates solely to withdrawal of the Security from listing on Amex and from registration under section 12(b) of the Act,3 and shall not affect its obligation to be registered under section 12(g) of the Act.4 Any interested person may, on or before July 18, 2005, comment on the facts bearing upon whether the application has been made in accordance with the rules of Amex, and what terms, if any, should be imposed by the Commission for the protection of investors. All comment letters may be submitted by either of the following methods: 1 15 U.S.C. 781(b). 4 15 U.S.C. 781(g). 5 17 CFR 200.30–3(a)(1). U.S.C. 78l(d). CFR 240.12d2–2(d). VerDate jul<14>2003 SECURITIES AND EXCHANGE COMMISSION BILLING CODE 8010–01–P 3 15 PO 00000 Frm 00129 Fmt 4703 Sfmt 4703 37449 U.S.C. 78l(d). CFR 240.12d2–2(d). 3 15 U.S.C. 781(b). 4 15 U.S.C. 781(g). 2 17 E:\FR\FM\29JNN1.SGM 29JNN1 37450 Federal Register / Vol. 70, No. 124 / Wednesday, June 29, 2005 / Notices Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/delist.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include the File Number 1–32334 or; Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–9303. All submissions should refer to File Number 1–32334. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (http://www.sec.gov/rules/delist.shtml). Comments are also available for public inspection and copying in the Commission’s Public Reference Room. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. The Commission, based on the information submitted to it, will issue an order granting the application after the date mentioned above, unless the Commission determines to order a hearing on the matter. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5 J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–3369 Filed 6–28–05; 8:45 am] BILLING CODE 8010–01–P Self-Regulatory Organizations; Fixed Income Clearing Corporation; Order Granting Approval of a Proposed Rule Change Relating to Trade Submission Requirements and Pre-Netting June 22, 2005. I. Introduction On July 30, 2004, the Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–FICC–2004–15 pursuant VerDate jul<14>2003 17:40 Jun 28, 2005 Jkt 205001 U.S.C. 78s(b)(1). Exchange Act Release No. 50607 (October 29, 2004), 69 FR 64343. 3 Scott Gordon, Chief Executive Officer, Rosenthal Collins Group, LLC (November 26, 2004); Stephen Merkel, Executive Managing Director and General Counsel, Cantor Fitzgerald Securities (November 26, 2004); Scott Gordon, Chief Executive Officer, Rosenthal Collins Group, LLC (November 29, 2004); John P. Murphy, Managing Director of Operations, Hilliard Farber & Co., Inc. (December 15, 2004); Ronald A. Purpora, Chief Executive Officer, ICAP North American Securities, Garban LLC (December 17, 2004); Robert F. Gartland, Managing Director, Morgan Stanley & Co. Incorporated (December 23, 2004); Frank Tripodi, Managing Director & CFO, TD Securities (USA) LLC (December 17, 2004); David Cassan, Countrywide Securities Corp. (January 4, 2004); Jeffrey F. Ingber, General Manager, Fixed Income Clearing Corporation (January 14, 2005); Emil Assentato, President, Tradition Asiel Securities, Inc. (February 17, 2005); Eric L. Foster, Vice President and Associate General Counsel, The Bond Market Association (February 28, 2005). 4 Securities Exchange Act Release No. 51365 (March 14, 2005), 70 FR 13222. 2 Securities [Release No. 34–51908; File No. SR–FICC– 2004–15] CFR 200.30–3(a)(1). II. Description Through a recent survey of FICC’s Government Securities Division (‘‘GSD’’) members and through other means, FICC has learned that there is a great deal of Government securities activity that is currently being executed or cleared and guaranteed as to settlement by affiliates of FICC’s netting members, some of which are active market participants, and is not being submitted to FICC. This currently does not represent a violation of the GSD’s rules, which require that netting members submit their own eligible trading activity but do not address trading activity of members’ affiliates. FICC has also determined that its trade submission requirements have been ineffective in preventing the ‘‘prenetting’’ of otherwise netting-eligible activity by netting members as well as their affiliates. In fact, FICC believes that certain members may be purposefully funneling eligible 1 15 SECURITIES AND EXCHANGE COMMISSION 5 17 to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’).1 Notice of the proposal was published in the Federal Register on November 4, 2004.2 Eleven comment letters were received.3 FICC amended the proposed rule change on March 4, 2005. Notice of the amended proposed rule change was published in the Federal Register on March 18, 2005.4 No comments were received on the amendment. On June 22, 2005, FICC further amended the proposed rule change to clarify the rule language regarding de minimus trades. Republication of the notice was not necessary because the June 22 amendment made only a technical change to the proposed rule change. For the reasons discussed below, the Commission is granting approval of the proposed rule change. PO 00000 Frm 00130 Fmt 4703 Sfmt 4703 transactions through their non-member affiliates in order to avoid having to submit these transactions to the clearing corporation. Such pre-netting practices, which may take the form of ‘‘internalization,’’ ‘‘summarization,’’ or ‘‘compression,’’ prevent the submission to FICC of transactions on a trade-bytrade basis.5 The GSD’s rules currently prohibit certain pre-netting practices by requiring that all eligible trades executed by its netting members be submitted on a trade-by-trade basis. The proposed rule change expands this requirement to extend it to affiliate trades. The submission to FICC of eligible activity of each GSD netting member and that of its affiliates that are active market participants is necessary to preserve the integrity of the netting process and the safety and soundness of the overall Government Securities clearance and settlement process. The consequence of a gap in FICC’s trade submission requirements raises significant risk issues for FICC and the Government securities marketplace as a whole. The GSD employs several methods to reduce risk including collateral and mark-to-market requirements and various monitoring procedures. These methods have been highly successful in protecting the GSD and its members from loss. The most powerful risk management tool employed by the GSD is its multilateral netting by novation process, which eliminates netting members’ need to settle the large majority of receive and deliver obligations created by in trading activities. (For example, each business day during the first half of 2004, the netting process safely eliminated the settlement risk posed by an average of about 73,000 Government securities transactions worth approximately $1.82 trillion.) The integrity of this netting 5 In this regard, it should be noted that on February 28, 2003, the National Securities Clearing Corporation (‘‘NSCC’’), an FICC affiliate, issued a paper titled ‘‘Managing Risk in Today’s Equity Market: A White Paper on New Trade Submission Safeguards.’’ (http://www.dtcc.com/ ThoughtLeadership/whitepapers/ managingrisk.pdf). In the paper, which defined recent trade submission practices that are creating risks in the equities market, NSCC defined three trade submission practices that are some form of pre-netting: (i) Compression, which is a technique to combine submissions of data for multiple trades to the point where the identity of the party actually responsible for the trades is masked, (ii) internalization, which is a technique in which trade data on separate correspondents’ trades completely ‘‘crossed’’ on a clearing member’s books are not reported at all to the clearing corporation, and (iii) summarization, which is a technique in which the clearing broker nets all trades in a single CUSIP by the same correspondent broker into fewer submitted trades. E:\FR\FM\29JNN1.SGM 29JNN1

Agencies

[Federal Register Volume 70, Number 124 (Wednesday, June 29, 2005)]
[Notices]
[Pages 37449-37450]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-3369]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of TurboChef Technologies 
Inc. To Withdraw Its Common Stock, $.01 Par Value, From Listing and 
Registration on the American Stock Exchange LLC File No. 1-32334

June 22, 2005.
    On June 13, 2005, TurboChef Technologies Inc., a Delaware 
corporation (``Issuer''), filed an application with the Securities and 
Exchange Commission (``Commission''), pursuant to section 12(d) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) 
thereunder,\2\ to withdraw its common stock, $.01 par value 
(``Security''), from listing and registration on the American Stock 
Exchange LLC (``Amex'').
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
---------------------------------------------------------------------------

    On March 7, 2005, the Board of Directors (``Board'') of the Issuer 
unanimously approved a proposal to withdraw the Security from listing 
on Amex and to list the Security on the Nasdaq National Market 
(``Nasdaq''). The Issuer stated that the reason for such action is that 
the Issuer believes that with respect to its own securities and 
stockholders, the trading system and involvement of market makers on 
Nasdaq is preferable to the Amex system of specialists, and a Nasdaq 
listing may be more attractive and provide the Issuer more exposure to 
potential investors.
    The Issuer stated in its application that it has met the 
requirements of Amex Rule 18 by complying with all applicable laws in 
effect in the state of Delaware, in which it is incorporated, and 
provided written notice of withdrawal to Amex.
    The Issuer's application relates solely to withdrawal of the 
Security from listing on Amex and from registration under section 12(b) 
of the Act,\3\ and shall not affect its obligation to be registered 
under section 12(g) of the Act.\4\
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 781(b).
    \4\ 15 U.S.C. 781(g).
---------------------------------------------------------------------------

    Any interested person may, on or before July 18, 2005, comment on 
the facts bearing upon whether the application has been made in 
accordance with the rules of Amex, and what terms, if any, should be 
imposed by the Commission for the protection of investors. All comment 
letters may be submitted by either of the following methods:

[[Page 37450]]

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/delist.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
the File Number 1-32334 or;

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-9303.
    All submissions should refer to File Number 1-32334. This file 
number should be included on the subject line if e-mail is used. To 
help us process and review your comments more efficiently, please use 
only one method. The Commission will post all comments on the 
Commission's Internet Web site (http://www.sec.gov/rules/delist.shtml). 
Comments are also available for public inspection and copying in the 
Commission's Public Reference Room. All comments received will be 
posted without change; we do not edit personal identifying information 
from submissions. You should submit only information that you wish to 
make available publicly.
    The Commission, based on the information submitted to it, will 
issue an order granting the application after the date mentioned above, 
unless the Commission determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\5\
---------------------------------------------------------------------------

    \5\ 17 CFR 200.30-3(a)(1).
---------------------------------------------------------------------------

J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E5-3369 Filed 6-28-05; 8:45 am]
BILLING CODE 8010-01-P