Arkansas Disaster #AR-00019, 18311-18312 [E8-6944]
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Federal Register / Vol. 73, No. 65 / Thursday, April 3, 2008 / Notices
rwilkins on PROD1PC63 with NOTICES
Rule 1012, ‘‘Series of Options Open for
Trading,’’ the Exchange is required to
refer to the spot prices of foreign
currencies in determining strike prices
for U.S. dollar-settled FCOs. Further,
Phlx Rule 722, ‘‘Margin Accounts,’’
requires the Exchange to establish
margin requirements for FCO
transactions based upon the spot price
of the foreign currency underlying the
option.
Currently, the Exchange receives Spot
Prices that are contributor bank quotes
from Reuters in real-time and takes the
weighted average of the various quotes
to determine the Phlx’s foreign currency
spot price.5 The Exchange now seeks to
amend the definition of Spot Prices to
include foreign currency quotes of
entities other than commercial banks, so
that the Exchange can use the Thomson
Quotes to calculate Spot Prices for the
setting of margin requirements and
strike prices and for any other necessary
purposes in connection with Phlx’s FCO
contracts. Thomson Quotes are not
limited to quotes from banks but also
include quotes from other foreign
currency market participants.
Under the proposal, the Exchange will
receive the latest Thomson Quotes from
Thomson, which in turn obtains this
data from Tenfore.6 With the exception
of the Japanese yen, the Exchange will
then calculate the average of the bid and
ask received to determine the current
spot market price that the Exchange will
use for purposes of calculating margin
requirements and strike prices with
respect to U.S. dollar-settled FCOs.
Because the Thomson Quote is
expressed differently for the Japanese
yen than for the other currencies (in
foreign currency units per U.S. dollar
rather than in U. S. dollars per unit of
foreign currency), the spot price that
Phlx will use for the Japanese yen will
this defined term includes both bids and offers
made by participants in the foreign currency
markets (as opposed to offers only). In addition, the
Exchange is proposing to amend Rule 722 such that
the current spot market price of an underlying
foreign currency shall be determined using spot
prices at 4 (the close of trading for U.S. dollarsettled FCOs) rather than 2:30 (the close of trading
for physical delivery FCOs).
5 Until March 14, 2008, in connection with its
physical delivery FCOs, when the Exchange
received the bid and ask from the Reuters feed, the
Exchange computed the average and distributed
that value as the foreign currency spot value over
the facilities of the Options Price Reporting
Authority (‘‘OPRA’’) to vendors and individual
customers. The Exchange ceased disseminating this
foreign currency spot value after March 14, 2008,
in connection with the planned delisting of its
physical delivery FCO contracts.
6 Tenfore has more than 21 contributors reporting,
consisting of banks, spot currency portals, the
European Central Bank, and brokers. Tenfore’s bid
and ask Spot Prices are at any given point in time
the latest bid and ask supplied to Tenfore by the
last in time of any Tenfore contributor to report.
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17:19 Apr 02, 2008
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be the inverse of the average of the
Thomson Quote bid and ask (that is, one
divided by the average of the Thomson
Quote bid and ask).
The Exchange will not disseminate
the current spot market value it
calculates based upon the Thomson
Quotes. However, the Exchange
currently does, and will continue to,
disseminate its modified spot value,
which is also based upon the Thomson
Quotes, real-time over Network B of the
Consolidated Tape Association.7 The
Exchange states that this modified spot
value is more widely distributed,
carried by more vendors, and more
easily accessible than the Exchange’s
current foreign currency spot market
price calculated on the basis of the bank
quotes provided by Reuters.
III. Discussion
After careful review, the Commission
finds that the proposed rule change, as
amended, is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
a national securities exchange and, in
particular, with Section 6(b)(5) of the
Act,8 which requires, among other
things, that the rules of a national
securities exchange be designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, to remove
impediments to, and perfect the
mechanism of, a free and open market
and a national market system and, in
general, to protect investors and the
public interest.9
The Commission believes that
Exchange’s use of Thomson Quotes for
determining Spot Prices for the setting
of margin requirements and strike prices
for Phlx’s U.S.-dollar settled FCOs is
reasonable and should result in Phlx
Spot Prices that are representative of
foreign currency spot market prices.
Although the Exchange will not
disseminate the current Spot Prices it
calculates based upon the Thomson
Quotes, the Commission believes that
sufficient venues exist for obtaining
reliable information on the foreign
currencies so that investors in U.S.
7 The Exchange currently disseminates, over the
facilities of the Consolidated Tape Association at
least once every fifteen seconds while the Exchange
is open for trading, a modified spot rate for
currencies underlying U.S. dollar-settled FCOs. The
Exchange does not propose to change the modified
spot rate in this proposed rule change. See
Securities Exchange Act Release Nos. 55513 (March
22, 2007), 72 FR 14636 (March 28, 2007) (SR–Phlx–
2007–28) and 56034 (July 10, 2007), 72 FR 38853
(July 16, 2007) (SR–Phlx–2007–34).
8 15 U.S.C. 78f(b)(5).
9 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
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18311
dollar-settled FCOs can monitor the
underlying spot market, including the
Exchange’s dissemination of a modified
spot rate for foreign currencies at least
once every fifteen seconds while the
Exchange is open for trading. The
Commission also notes that the
Exchange has represented that it
believes that the new method of
calculating Phlx Spot Prices should,
over time, produce only minor
differences from the current method of
determining Spot Prices. Accordingly,
the Commission finds that the proposed
rule change, as amended, is consistent
with the Act.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,10 that the
proposed rule change (SR–Phlx–2008–
06), as modified by Amendment No. 1,
be, and hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–6871 Filed 4–2–08; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #11202]
Arkansas Disaster #AR–00019
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
SUMMARY: This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Arkansas (FEMA–1751–DR),
dated 03/26/2008.
Incident: Severe Storms, Tornadoes,
and Flooding.
Incident Period: 03/18/2008 and
continuing.
DATES: Effective Date: 03/26/2008.
Physical Loan Application Deadline
Date: 05/27/2008.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
10 15
11 17
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U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
03APN1
18312
Federal Register / Vol. 73, No. 65 / Thursday, April 3, 2008 / Notices
President’s major disaster declaration on
03/26/2008, Private Non-Profit
organizations that provide essential
services of a governmental nature may
file disaster loan applications at the
address listed above or other locally
announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Baxter, Benton,
Boone, Carroll, Clay, Conway,
Craighead, Crawford, Faulkner,
Franklin, Fulton, Greene, Hot
Spring, Howard, Independence,
Izard, Jackson, Johnson, Lawrence,
Logan, Madison, Marion, Nevada,
Newton, Pope, Randolph, Scott,
Searcy, Sharp, Stone, Van Buren,
Washington, White, Woodruff, Yell.
The Interest Rates Are:
Percent
Other (Including Non-Profit Organizations) With Credit Available
Elsewhere .................................
Businesses and Non-Profit Organizations Without Credit Available Elsewhere .........................
5.250
4.000
The number assigned to this disaster
for physical damage is 11202.
(Catalog of Federal Domestic Assistance
Number 59008)
Herbert L. Mitchell,
Associate Administrator for Disaster
Assistance.
[FR Doc. E8–6944 Filed 4–2–08; 8:45 am]
A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
President’s major disaster declaration on
03/27/2008, applications for disaster
loans may be filed at the address listed
above or other locally announced
locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties (Physical Damage and
Economic Injury Loans):
Bollinger, Carter, Christian, Franklin,
Greene, Iron, Jasper, Jefferson,
Maries, Newton, Oregon, Phelps,
Pulaski, Reynolds, St. Francois,
Stone, Texas, Washington, Wayne.
Contiguous Counties (Economic Injury
Loans Only):
Missouri: Barry, Barton, Butler,
Camden, Cape Girardeau, Crawford,
Dade, Dallas, Dent, Douglas,
Gasconade, Howell, Laclede,
Lawrence, Madison, Mcdonald,
Miller, Osage, Perry, Polk, Ripley,
Saint Louis, Sainte Genevieve,
Shannon, St. Charles, Stoddard,
Taney, Warren, Webster, Wright.
Arkansas: Carroll, Fulton, Randolph,
Sharp.
Illinois: Monroe.
Kansas: Cherokee, Crawford.
Oklahoma: Ottawa.
The Interest Rates are:
FOR FURTHER INFORMATION CONTACT:
BILLING CODE 8025–01–P
Percent
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #11203 and #11204]
Missouri Disaster #MO–00025
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
SUMMARY: This is a Notice of the
Presidential declaration of a major
disaster for the State of MISSOURI
(FEMA–1749–DR), dated 03/27/2008.
Incident: Severe Storms and Flooding.
Incident Period: 03/17/2008 and
continuing.
Effective Date: 03/27/2008.
Physical Loan Application Deadline
Date: 05/27/2008.
Economic Injury (EIDL) Loan
Application Deadline Date: 12/23/2008.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
rwilkins on PROD1PC63 with NOTICES
DATES:
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For Physical Damage:
Homeowners With Credit Available Elsewhere ......................
Homeowners Without Credit
Available Elsewhere ..............
Businesses With Credit Available Elsewhere ......................
Other (Including Non-Profit Organizations)
With
Credit
Available Elsewhere ..............
Businesses And Non-Profit Organizations Without Credit
Available Elsewhere ..............
For Economic Injury:
Businesses & Small Agricultural
Cooperatives Without Credit
Available Elsewhere ..............
5.500
2.750
8.000
5.250
4.000
4.000
The number assigned to this disaster
for physical damage is 11203B and for
economic injury is 112040.
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
Herbert L. Mitchell,
Associate Administrator for Disaster
Assistance.
[FR Doc. E8–6942 Filed 4–2–08; 8:45 am]
SMALL BUSINESS ADMINISTRATION
National Small Business Development
Center Advisory Board
U.S. Small Business
Administration (SBA).
AGENCY:
Notice of open Federal advisory
committee meeting.
ACTION:
SUMMARY: The SBA is issuing this notice
to announce the location, date, time and
agenda for the next meeting of the
National Small Business Development
Center (SBDC) Advisory Board.
The meeting will be held on
Tuesday, April 15, 2008 at 1 p.m. EST.
DATES:
This meeting will be held
via conference call.
ADDRESSES:
Pursuant
to section 10(a) of the Federal Advisory
Committee Act (5 U.S.C. Appendix 2),
SBA announces the meeting of the
National SBDC Advisory Board. This
Board provides advice and counsel to
the SBA Administrator and Associate
Administrator for Small Business
Development Centers.
The purpose of this meeting is to
discuss following issues pertaining to
the SBDC Advisory Board:
SUPPLEMENTARY INFORMATION:
—Roles and Responsibilities.
—Mission Statement.
—Association of Small Business
Development Centers (ASBDC) Fall
Conference.
—Entrepreneurial Development’s
Annual Report.
The
meeting is open to the public however
advance notice of attendance is
requested. Anyone wishing to attend
and/or make a presentation to the Board
must contact Alanna Falcone by Friday,
April 11, 2008, by fax or e-mail in order
to be placed on the agenda. Alanna
Falcone, Program Analyst, 409 Third
Street, SW., Washington, DC 20416,
Phone, 202–619–1612, Fax 202–481–
0134, e-mail, alanna.falcone@sba.gov.
Additionally, if you need
accommodations because of a disability
or require additional information, please
contact Alanna Falcone at the
information above.
FOR FUTHER INFORMATION CONTACT:
Cherylyn H. Lebon,
Committee Management Officer.
[FR Doc. E8–6886 Filed 4–2–08; 8:45 am]
BILLING CODE 8025–01–P
BILLING CODE 8025–01–P
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]]>Agencies
[Federal Register Volume 73, Number 65 (Thursday, April 3, 2008)]
[Notices]
[Pages 18311-18312]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-6944]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration 11202]
Arkansas Disaster AR-00019
AGENCY: U.S. Small Business Administration.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This is a Notice of the Presidential declaration of a major
disaster for Public Assistance Only for the State of Arkansas (FEMA-
1751-DR), dated 03/26/2008.
Incident: Severe Storms, Tornadoes, and Flooding.
Incident Period: 03/18/2008 and continuing.
DATES: Effective Date: 03/26/2008.
Physical Loan Application Deadline Date: 05/27/2008.
ADDRESSES: Submit completed loan applications to: U.S. Small Business
Administration, Processing and Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster
Assistance, U.S. Small Business Administration, 409 3rd Street, SW.,
Suite 6050, Washington, DC 20416.
SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of
the
[[Page 18312]]
President's major disaster declaration on 03/26/2008, Private Non-
Profit organizations that provide essential services of a governmental
nature may file disaster loan applications at the address listed above
or other locally announced locations.
The following areas have been determined to be adversely affected
by the disaster:
Primary Counties: Baxter, Benton, Boone, Carroll, Clay, Conway,
Craighead, Crawford, Faulkner, Franklin, Fulton, Greene, Hot Spring,
Howard, Independence, Izard, Jackson, Johnson, Lawrence, Logan,
Madison, Marion, Nevada, Newton, Pope, Randolph, Scott, Searcy, Sharp,
Stone, Van Buren, Washington, White, Woodruff, Yell.
The Interest Rates Are:
------------------------------------------------------------------------
Percent
------------------------------------------------------------------------
Other (Including Non-Profit Organizations) With Credit 5.250
Available Elsewhere.........................................
Businesses and Non-Profit Organizations Without Credit 4.000
Available Elsewhere.........................................
------------------------------------------------------------------------
The number assigned to this disaster for physical damage is 11202.
(Catalog of Federal Domestic Assistance Number 59008)
Herbert L. Mitchell,
Associate Administrator for Disaster Assistance.
[FR Doc. E8-6944 Filed 4-2-08; 8:45 am]
BILLING CODE 8025-01-P
