In the Matter of Internetstudios.com, Inc., and World Cyberlinks Corp. File No. 500-1; Order of Suspension of Trading, 20901-20902 [07-2074]

Download as PDF rwilkins on PROD1PC63 with NOTICES Federal Register / Vol. 72, No. 80 / Thursday, April 26, 2007 / Notices endeavor to provide Participants with written estimates of each Participant’s percentage of total volume within five business days of month end. 3. For purposes of this Exhibit 1, net distributable operating income for any particular calendar year shall be calculated by adding all revenues from the UTP Quote Data Feed, the UTP Trade Data Feed, and the OTC Montage Data Feed including revenues from the dissemination of information respecting Eligible Securities to foreign marketplaces (collectively, ‘‘the Data Feeds’’), and subtracting from such revenues the costs incurred by the Processor, set forth below, in collecting, consolidating, validating, generating, and disseminating the Data Feeds. These costs include, but are not limited to, the following: a. The Processor costs directly attributable to creating OTC Montage Data Feed, including: 1. Cost of collecting Participant quotes into the Processor’s quote engine; 2. Cost of processing quotes and creating OTC Montage Data Feed messages within the Processor’s quote engine; 3. Cost of the Processor’s communication management subsystem that distributes OTC Montage Data Feed to the market data vendor network for further distribution. b. The costs directly attributable to creating the UTP Quote Data Feed, including: 1. The costs of collecting each Participant’s best bid, best offer, and aggregate volume into the Processor’s quote engine and, in the case of NASD, the costs of identifying the NASD Participant(s) that constitute NASD’s Best Bid and Offer quotations; 2. Cost of calculating the national best bid and offer price within the Processor’s quote engine; 3. Cost of creating the UTP Quote Data Feed message within the Processor’s quote engine; 4. Cost of the Processor’s communication management subsystem that distributes the UTP Quote Data Feed to the market data vendors’ networks for further distribution. c. The costs directly attributable to creating the UTP Trade Data Feed, including: 1. The costs of collecting each Participant’s last sale and volume amount into the Processor’s quote engine 2. Cost of determining the appropriate last sale price and volume amount within the Processor’s trade engine; 3. Cost of utilizing the Processor’s trade engine to distribute the UTP Trade VerDate Aug<31>2005 18:59 Apr 25, 2007 Jkt 211001 Data Feed for distribution to the market data vendors. 4. Cost of the Processor’s communication management subsystem that distributes the UTP Trade Data Feed to the market data vendors’ networks for further distribution. d. The additional costs that are shared across all Data Feeds, including: 1. Telecommunication Operations costs of supporting the Participant lines into the Processor’s facilities; 2. Telecommunications Operations costs of supporting the external market data vendor network; 3. Data Products account management and auditing function with the market data vendors; 4. Market Operations costs to support symbol maintenance, and other data integrity issues; 5. Overhead costs, including management support of the Processor, Human Resources, Finance, Legal, and Administrative Services. e. Processor costs excluded from the calculation of net distributable operating income include trade execution costs for transactions executed using a Nasdaq service and trade report collection costs reported through a Nasdaq service, as such services are market functions for which Participants electing to use such services pay market rate. f. For the purposes of this provision, the following definitions shall apply: 1. ‘‘Quote engine’’ shall mean the Nasdaq’s NT or Tandem system that is operated by Nasdaq to collect quotation information for Eligible Securities; 2. ‘‘Trade engine’’ shall mean the Nasdaq Tandem system that is operated by Nasdaq for the purpose of collecting last sale information in Eligible Securities. 3. At the time a Participant implements a Processor-approved electronic interface with the Processor, the Participant will become eligible to receive revenue. 4. Processor shall endeavor to provide Participants with written estimates of each Participant’s quarterly net distributable operating income within 45 calendar days of the end of the quarter, and estimated quarterly payments or billings shall be made on the basis of such estimates. All quarterly payments or billings shall be made to each eligible Participant within 45 days following the end of each calendar quarter in which the Participant is eligible to receive revenue, provided that each quarterly payment or billing shall be reconciled against a Participant’s cumulative year-to-date payment or billing received to date and adjusted accordingly, and further PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 20901 provided that the total of such estimated payments or billings shall be reconciled at the end of each calendar year and, if necessary, adjusted by March 31st of the following year. Interest shall be included in quarterly payments and in adjusted payments made on March 31st of the following year. Such interest shall accrue monthly during the period in which revenue was earned and not yet paid and will be based on the 90-day Treasury bill rate in effect at the end of the quarter in which the payment is made. Monthly interest shall start accruing 45 days following the month in which it is earned and accrue until the date on which the payment is made. In conjunction with calculating estimated quarterly and reconciled annual payments under this Exhibit 1, the Processor shall submit to the Participants a quarterly itemized statement setting forth the basis upon which net operating income was calculated, including a quarterly itemized statement of the Processor costs set forth in Paragraph 3 of this Exhibit. Such Processor costs and Plan revenues shall be adjusted annually based solely on the Processor’s quarterly itemized statement audited pursuant to Processor’s annual audit. Processor shall pay or bill Participants for the audit adjustments within thirty days of completion of the annual audit. By majority vote of the Operating Committee, the Processor shall engage an independent auditor to audit the Processor’s costs or other calculation(s), the cost of which audit shall be shared equally by all Participants. The Processor agrees to cooperate fully in providing the information necessary to complete such audit. [FR Doc. E7–7953 Filed 4–25–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION In the Matter of Internetstudios.com, Inc., and World Cyberlinks Corp. File No. 500–1; Order of Suspension of Trading April 24, 2007. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Internetstudios.com, Inc. because it has not filed any periodic reports since it filed a Form 10–QSB for the period ended September 30, 2005. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of World E:\FR\FM\26APN1.SGM 26APN1 20902 Federal Register / Vol. 72, No. 80 / Thursday, April 26, 2007 / Notices Cyberlinks Corp. because it has not filed any periodic reports since it filed a Form 10–KSB for the period ended July 31, 2002. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the abovelisted companies, is suspended for the period from 9:30 a.m. EDT on April 24, 2007, through 11:59 p.m. EDT on May 7, 2007. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. 07–2074 Filed 4–24–07; 11:54 am] SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change as Modified by Amendment No. 1 Thereto Relating to the Listing and Trading of Options on Vanguard Emerging Markets ETF April 19, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on January 19, 2007, the American Stock Exchange LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. The Exchange submitted Amendment No. 1 to the proposed rule change on March 23, 2007. The Commission is publishing this notice and order to solicit comments on the proposal, as amended, from interested persons and to approve the proposed rule change, as modified by Amendment No. 1, on an accelerated basis. rwilkins on PROD1PC63 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to list and trade options (‘‘Fund Options’’) on the Vanguard Emerging Markets ETF. The U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Aug<31>2005 18:59 Apr 25, 2007 Jkt 211001 In its filing with the Commission, the Exchange included statements concerning the purpose of, and basis for, the proposed rule change. The text of these statements may be examined at the places specified in Item III below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant parts of such statements. 1. Purpose [Release No. 34–55648; File No. SR–Amex– 2007–09] 2 17 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change BILLING CODE 8010–01–M 1 15 text of the proposed rule change is available on the Amex’s Web site at http://www.amex.com, the Office of the Secretary, the Amex and at the Commission’s Public Reference Room. The purpose of this rule change is to obtain approval to list for trading on the Exchange options on the Vanguard Emerging Markets ETF (the ‘‘Fund’’) (symbol: VWO) on a pilot basis for six (6) months to commence on the date of approval. Commentary .06 to Amex Rule 915 and Commentary .07 to Amex Rule 916, respectively (the ‘‘Listing Standards’’) establish the Exchange’s initial listing and maintenance standards. The Listing Standards permit the Exchange to list funds structured as open-end investment companies (such as the Fund), unit investment trust (‘‘UITs’’) or other similar entities, without having to file for approval with the Commission to list for trading options on such funds.3 The Exchange submits that the Fund meets substantially all of the Listing Standard requirements, and for the requirements that are not met, sufficient mechanisms exist that would provide the Exchange with adequate surveillance and regulatory information with respect to the Fund. The Fund is an open-end investment company designed to hold a portfolio of securities which tracks the performance of the MSCI Emerging Markets Index 3 Commentary .06 to Amex Rule 915 sets forth the initial listing and maintenance standards for shares or other securities (‘‘Exchange-Traded Fund Shares’’) that are principally traded on a national securities exchange or through the facilities of a national securities exchange and reported as a national market security, and that represent an interest in a registered investment company organized as an open-end management investment company, a unit investment trust or other similar entity. PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 (the ‘‘Index’’ or ‘‘Select Index’’).4 The Fund employs a ‘‘representative sampling’’ methodology to track the Index, which means that the Fund invests in a representative sample of securities in the Index that have a similar investment profile as the Index.5 Securities selected by the Fund have aggregate investment characteristics (based on market capitalization and industry weightings), fundamental characteristics (such as return variability, earnings valuation and yield) and liquidity measures similar to those of the Index. The Index provides exposure to 25 emerging market countries in Europe, Asia, Africa, and Latin America. As of February 28, 2007, the Emerging Markets Index consisted of companies representing Argentina, Brazil, Chile, China, Colombia, the Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Malaysia, Mexico, Morocco, Pakistan, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Taiwan, Thailand, and Turkey. MSCI periodically adjusts the list of included countries to keep pace with the evolution in world markets (such adjustments made on a forward-looking basis, so past performance of the Emerging Markets Index always reflects actual country representation during the relevant period). The Fund generally invests at least 95% of its assets in the common stocks included in the Index. In order to improve portfolio liquidity and give the Fund additional flexibility to comply with the requirements of the U.S. Internal Revenue Code and other regulatory requirements and to manage future corporate actions and index changes in smaller markets, the Fund also has the authority to invest the remainder of its assets in securities that 4 The Emerging Markets Index includes approximately 848 equity components of companies located in emerging markets around the world. As of February 28, 2007, the largest markets covered in the Index were South Korea, Taiwan, Brazil, China and Russia (which made up 15.7%, 12.4%, 10.5%, 10.5% and 10.0%, respectively, of the Index’s market capitalization). MSCI (www.msci.com) calculates and maintains the Emerging Markets Index. The Index is a capitalization-weighted index whose component securities are adjusted for available float and must meet objective criteria for inclusion in the Index. The Index aims to capture 85% of the publicly available total market capitalization in each emerging market included in the Index. The Index is rebalanced quarterly, calculated in U.S. Dollars on a real time basis, and disseminated every 60 seconds during market trading hours. 5 As of February 28, 2007, the Fund was comprised of 863 securities and had total net assets of $13.5 billion. OAO Gazprom ADR had the greatest individual weight at 4.16%. The aggregate percentage weighting of the top 10 securities in the Fund was 18.1%. E:\FR\FM\26APN1.SGM 26APN1

Agencies

[Federal Register Volume 72, Number 80 (Thursday, April 26, 2007)]
[Notices]
[Pages 20901-20902]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 07-2074]


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SECURITIES AND EXCHANGE COMMISSION


In the Matter of Internetstudios.com, Inc., and World Cyberlinks 
Corp. File No. 500-1; Order of Suspension of Trading

April 24, 2007.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Internetstudios.com, Inc. because it has not filed any periodic reports 
since it filed a Form 10-QSB for the period ended September 30, 2005.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
World

[[Page 20902]]

Cyberlinks Corp. because it has not filed any periodic reports since it 
filed a Form 10-KSB for the period ended July 31, 2002.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed companies.
    Therefore, it is ordered, pursuant to Section 12(k) of the 
Securities Exchange Act of 1934, that trading in the above-listed 
companies, is suspended for the period from 9:30 a.m. EDT on April 24, 
2007, through 11:59 p.m. EDT on May 7, 2007.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 07-2074 Filed 4-24-07; 11:54 am]
BILLING CODE 8010-01-M