ActiveCore Technologies, Inc., Battery Technologies, Inc., China Media1 Corp., Dura Products International, Inc. (n/k/a Dexx Corp.), Global Mainframe Corp., GrandeTel Technologies, Inc., Magna Entertainment Corp. (n/k/a Reorganized Magna Entertainment Corp.), and 649 Com, Inc. (n/k/a Infinite Holdings Group, Inc.), Order of Suspension of Trading, 6839-6840 [2011-2827]
Download as PDF
<![CDATA[
srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 76, No. 26 / Tuesday, February 8, 2011 / Notices
Option is specified as having a single
payout, settlement is triggered when any
one of the component Reference Entities
has a Credit Event and thereafter the
option ceases to exist. The payout is the
settlement amount attached to that one
Reference Entity. If a Credit Default
Basket Option is specified as having
multiple payouts, a settlement is
triggered when any one of the
component Reference Entities has a
Credit Event,7 but the option continues
to exist until its expiration. Therefore,
additional settlements would be
triggered if, and as, any Credit Events
occur in respect of the remaining
Reference Entity components. The
payout is the settlement amount
attached to each particular Reference
Entity.
CBOE notes that the current Exchange
margin requirements for Credit Options
were established before FINRA
implemented margin requirements for
credit default swaps (FINRA Rule 4240).
In order to be consistent with FINRA
margin requirements and establish a
level playing field for similar
instruments, CBOE’s proposed
amendments adopt the FINRA
requirements to a large extent. For
Credit Default Options, which overlie a
single Reference Entity, CBOE proposes
to adopt FINRA’s margin percentage
table for credit default swaps. With
respect to Credit Default Basket Options,
CBOE is adopting the margin percentage
table that FINRA requires for CDX
indices because, like an index, a Credit
Default Basket Option involves multiple
component Reference Entities. CBOE
proposes to revise the FINRA column
headings to fit Credit Options. FINRA
Rule 4240 requires the percentage to be
applied to the notional amount of a
credit default swap. CBOE’s proposed
rules would require that the percentage
be applied to the settlement value of a
Credit Option to arrive at a margin
requirement because the settlement
value of a Credit Option is analogous to
the notional amount of a credit default
swap. CBOE’s proposed rules
incorporate all other relevant aspects of
FINRA 4240, such as risk monitoring
procedures and guidelines, and
concentration charge (net capital)
requirements.
CBOE’s proposed rules would require
no margin in the case of a spread (i.e.,
long and short Credit Options with the
same underlying Reference Entity or
Entities.) This differs from FINRA Rule
4240, which requires margin of 50% of
the margin required on the long or short
(credit default swap), whichever is
greater. CBOE is proposing no margin
7 Id.
VerDate Mar<15>2010
18:16 Feb 07, 2011
Jkt 223001
because the long and short are required
to have the same underlying Reference
Entity. Moreover, Credit Options are
standardized and are settled through
The Options Clearing Corp.
CBOE’s proposed rules would also
require no margin on a short Credit
Default Option that is offset with a short
position in a debt security issued by the
Reference Entity underlying the option.
This language differs from the debt
security offset allowed under FINRA
Rule 4240. However, applicable margin
must still be collected on the short
position in a debt security as prescribed
pursuant to applicable margin rules.
Rule 4240 requires no margin for a long
credit default swap contract that is
paired with a long position in the
underlying debt security. However,
CBOE believes this type of offset does
not appear to be workable in respect of
a Credit Default Option.
The proposal will become effective on
a pilot basis to run a parallel track with
FINRA Rule 4240. FINRA Rule 4240
operates on an interim pilot basis which
is currently scheduled to expire on July
16, 2011.8 If the Exchange were to
propose an extension of the Credit
Option Margin Pilot Program or should
the Exchange propose to make the Pilot
Program permanent, then the Exchange
would submit a filing proposing such
amendments to the Pilot Program.
III. Discussion and Commission’s
Findings
After careful consideration, the
Commission finds that the proposed
rule change, as modified by Amendment
No. 1, is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
a national securities exchange.9 In
particular, the Commission finds that
the proposal is consistent with Section
6(b)(5) of the Act,10 which requires,
among other things, that the rules of an
exchange be designed to promote just
and equitable principles of trade,
remove impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
general, protect investors and the public
interest. In the Commission’s view,
because it is consistent with FINRA
Rule 4240, the proposed rule change
will provide for a more uniform
8 See Securities Exchange Act Release No. 63391
(November 30, 2010), 75 FR 75718 (December 6,
2010) (notice of filing for immediate effectiveness
extending FINRA Rule 4240 margin interim pilot
program to July 16, 2011).
9 In approving this proposed rule change, the
Commission notes that it has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. 15 U.S.C. 78c(f).
10 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00084
Fmt 4703
Sfmt 4703
6839
application of margin requirements for
similar products.
The Commission further believes that
it is appropriate to approve the proposal
on a pilot basis to expire on July 16,
2011. In particular, the Commission
notes that CBOE’s proposed pilot
program will parallel FINRA’s pilot
program. This will allow the
Commission and CBOE to monitor the
effects of the pilot on the markets and
investors and consider appropriate
adjustments, as necessary.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,11 that the
proposed rule change (SR–CBOE–2010–
106), as modified by Amendment No. 1,
is approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–2645 Filed 2–7–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[File No. 500–1]
ActiveCore Technologies, Inc., Battery
Technologies, Inc., China Media1
Corp., Dura Products International, Inc.
(n/k/a Dexx Corp.), Global Mainframe
Corp., GrandeTel Technologies, Inc.,
Magna Entertainment Corp. (n/k/a
Reorganized Magna Entertainment
Corp.), and 649 Com, Inc. (n/k/a Infinite
Holdings Group, Inc.), Order of
Suspension of Trading
February 4, 2011.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of ActiveCore
Technologies, Inc. because it has not
filed any periodic reports since the
period ended September 30, 2006.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Battery
Technologies, Inc. because it has not
filed any periodic reports since the
period ended December 31, 2001.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of China
Media1 Corp. because it has not filed
any periodic reports since the period
ended September 30, 2006.
11 15
12 17
E:\FR\FM\08FEN1.SGM
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
08FEN1
6840
Federal Register / Vol. 76, No. 26 / Tuesday, February 8, 2011 / Notices
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Dura
Products International, Inc. (n/k/a Dexx
Corp.) because it has not filed any
periodic reports since the period ended
December 31, 2001.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Global
Mainframe Corp. because it has not filed
any periodic reports since the period
ended April 30, 2007.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of GrandeTel
Technologies, Inc. because it has not
filed any periodic reports since the
period ended January 31, 2002.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Magna
Entertainment Corp. (n/k/a Reorganized
Magna Entertainment Corp.) because it
has not filed any periodic reports since
the period ended September 30, 2008.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of 649 Com,
Inc. (n/k/a Infinite Holdings Group, Inc.)
because it has not filed any periodic
reports since the period ended March
31, 2006.
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 securities of the abovelisted companies is suspended for the
period from 9:30 a.m. EST on February
4, 2011, through 11:59 p.m. EST on
February 17, 2011.
By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2011–2827 Filed 2–4–11; 11:15 am]
BILLING CODE 8011–01–P
srobinson on DSKHWCL6B1PROD with NOTICES
OFFICE OF THE UNITED STATES
TRADE REPRESENTATIVE
Determinations Under the African
Growth and Opportunity Act
Office of the United States
Trade Representative.
ACTION: Notice.
AGENCY:
The United States Trade
Representative (USTR) has determined
SUMMARY:
VerDate Mar<15>2010
18:16 Feb 07, 2011
Jkt 223001
that the Republic of Liberia has adopted
an effective visa system and related
procedures to prevent unlawful
transshipment and the use of counterfeit
documents in connection with shipment
of textile and apparel articles and has
implemented and follows, or making
substantial progress toward
implementing and following, the
customs procedures required by the
African Growth and Opportunity Act
(AGOA). Therefore, imports of eligible
products from the Republic of Liberia
qualify for the textile and apparel
benefits provided under the AGOA.
DATES: Effective Date: February 7, 2011.
FOR FURTHER INFORMATION CONTACT:
Constance Hamilton, Deputy Assistant
United States Trade Representative for
African Affairs, Office of the United
States Trade Representative, (202) 395–
9514.
SUPPLEMENTARY INFORMATION: The
AGOA (Title I of the Trade and
Development Act of 2000, Public Law
106–200, as amended) provides
preferential tariff treatment for imports
of certain textile and apparel products
of beneficiary sub-Saharan African
countries. The textile and apparel trade
benefits under the AGOA are available
to imports of eligible products from
countries that the President designates
as ‘‘beneficiary sub-Saharan African
countries,’’ provided that these
countries: (1) Have adopted an effective
visa system and related procedures to
prevent unlawful transshipment and the
use of counterfeit documents; and (2)
have implemented and follow, or are
making substantial progress toward
implementing and following, certain
customs procedures that assist the
Customs Service in verifying the origin
of the products. In Proclamation 8098
(December 29, 2006), the President
designated the Republic of Liberia as a
‘‘beneficiary sub-Saharan African
country’’ and proclaimed that, for
purposes of section 112(b)(3)(B) of the
AGOA, the Republic of Liberia shall be
considered a lesser developed
beneficiary sub-Saharan African
country. In Proclamation 7350 (October
2, 2002), the President delegated to the
USTR the authority to determine
whether designated countries have met
the two requirements described above.
The President directed the USTR to
announce any such determinations in
the Federal Register and to implement
them through modifications of the
Harmonized Tariff Schedule of the
United States (HTS). Based on actions
that the Republic of Liberia has taken,
I have determined that the Republic of
Liberia has satisfied these two
requirements. Accordingly, pursuant to
PO 00000
Frm 00085
Fmt 4703
Sfmt 9990
the authority vested in the USTR by
Proclamation 7350, U.S. note 7(a) to
subchapter II of chapter 98 of the HTS,
and U.S. notes 1 and 2(d) to subchapter
XIX of chapter 98 of the HTS are each
modified by inserting ‘‘Republic of
Liberia’’ in alphabetical sequence in the
list of countries. The foregoing
modifications to the HTS are effective
with respect to articles entered, or
withdrawn from warehouse for
consumption, on or after February 7,
2011. Importers claiming preferential
tariff treatment under the AGOA for
entries of textile and apparel articles
should ensure that those entries meet
the applicable visa requirements. See
Visa Requirements Under the African
Growth and Opportunity Act, 66 FR
7837 (2001).
Ron Kirk,
U.S. Trade Representative.
[FR Doc. 2011–2757 Filed 2–7–11; 8:45 am]
BILLING CODE 3190–W1–P
DEPARTMENT OF TRANSPORTATION
Office of the Secretary
[Docket No. DOT–OST–2004–16951]
Agency Information Collection
Activities; Request for Comments;
Renewed Approval of Information
Collection: Aircraft Liability Insurance
Office of the Secretary, DOT.
Notice; correction.
AGENCY:
ACTION:
The Office of the Secretary
published a document in the Federal
Register on December 7, 2010,
concerning a request for renewal of a
previously approved information
collection. We are correcting the
document as set forth below.
FOR FURTHER INFORMATION CONTACT:
Lauralyn Remo, Chief, Air Carrier
Fitness Division (X–56), Office of
Aviation Analysis, Office of the
Secretary, U.S. Department of
Transportation, 1200 New Jersey
Avenue, SE., Washington, DC 20590,
(202) 366–9721.
SUMMARY:
Correction
In the December 7, 2010, Federal
Register [75 FR 76066], correct the
Estimated Total Burden on Respondents
to read:
Estimated Total Burden on
Respondents: 3,450 hours.
Issued in Washington, DC on January 31,
2011.
Todd M. Homan,
Director, Office of Aviation Analysis.
[FR Doc. 2011–2700 Filed 2–7–11; 8:45 am]
BILLING CODE 4910–9X–P
E:\FR\FM\08FEN1.SGM
08FEN1
]]>Agencies
[Federal Register Volume 76, Number 26 (Tuesday, February 8, 2011)]
[Notices]
[Pages 6839-6840]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-2827]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[File No. 500-1]
ActiveCore Technologies, Inc., Battery Technologies, Inc., China
Media1 Corp., Dura Products International, Inc. (n/k/a Dexx Corp.),
Global Mainframe Corp., GrandeTel Technologies, Inc., Magna
Entertainment Corp. (n/k/a Reorganized Magna Entertainment Corp.), and
649 Com, Inc. (n/k/a Infinite Holdings Group, Inc.), Order of
Suspension of Trading
February 4, 2011.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
ActiveCore Technologies, Inc. because it has not filed any periodic
reports since the period ended September 30, 2006.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Battery Technologies, Inc. because it has not filed any periodic
reports since the period ended December 31, 2001.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
China Media1 Corp. because it has not filed any periodic reports since
the period ended September 30, 2006.
[[Page 6840]]
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Dura Products International, Inc. (n/k/a Dexx Corp.) because it has not
filed any periodic reports since the period ended December 31, 2001.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Global Mainframe Corp. because it has not filed any periodic reports
since the period ended April 30, 2007.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
GrandeTel Technologies, Inc. because it has not filed any periodic
reports since the period ended January 31, 2002.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Magna Entertainment Corp. (n/k/a Reorganized Magna Entertainment Corp.)
because it has not filed any periodic reports since the period ended
September 30, 2008.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
649 Com, Inc. (n/k/a Infinite Holdings Group, Inc.) because it has not
filed any periodic reports since the period ended March 31, 2006.
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 securities of the above-listed companies is suspended
for the period from 9:30 a.m. EST on February 4, 2011, through 11:59
p.m. EST on February 17, 2011.
By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2011-2827 Filed 2-4-11; 11:15 am]
BILLING CODE 8011-01-P
