Advanced Optics Electronics, Inc.; Order of Suspension of Trading, 12144 [2011-5038]

Download as PDF 12144 Federal Register / Vol. 76, No. 43 / Friday, March 4, 2011 / Notices Filing Dates: The applications were filed on December 9, 2010, and amended on February 11, 2011. Applicants’ Address: 9920 Corporate Campus Drive, Suite 1000, Louisville, Kentucky 40223. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–4861 Filed 3–3–11; 8:45 am] BILLING CODE 8011–01–P II. Description SECURITIES AND EXCHANGE COMMISSION The proposed rule change allows FICC to offer cross-margining of certain positions cleared at its Government Securities Division (‘‘GSD’’) and certain positions cleared at New York Portfolio Clearing, LLC (‘‘NYPC’’).5 GSD members [File No. 500–1] Advanced Optics Electronics, Inc.; Order of Suspension of Trading March 2, 2011. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Advanced Optics Electronics, Inc. because it has not filed any periodic reports since the period ended March 31, 2007. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in Advanced Optics Electronics, Inc. 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 company is suspended for the period from 9:30 a.m. EST on March 2, 2011, through 11:59 p.m. EDT on March 15, 2011. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. 2011–5038 Filed 3–2–11; 4:15 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION jlentini on DSKJ8SOYB1PROD with NOTICES [Release No. 34–63986; File No. SR–FICC– 2010–09] Self-Regulatory Organizations; Fixed Income Clearing Corporation; Order Granting Approval of a Proposed Rule Change To Introduce Cross-Margining of Certain Positions Cleared at the Fixed Income Clearing Corporation and Certain Positions Cleared at New York Portfolio Clearing, LLC February 28, 2011. I. Introduction On November 12, 2010, Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange VerDate Mar<15>2010 19:16 Mar 03, 2011 Jkt 223001 Commission (‘‘Commission’’) proposed rule change SR–FICC–2010–09 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’ or ‘‘Act’’).1 Notice of the proposed rule change was published in the Federal Register on November 30, 2010.2 The Commission initially received thirteen comments to the proposed rule change.3 FICC, as well as one of the commenters, submitted letters responding to the comments.4 For the reasons discussed below, the Commission is granting approval of the proposed rule change. 1 15 U.S.C. 78s(b)(1). Exchange Act Release No. 63361 (November 23, 2010), 75 FR 74110 (November 30, 2010) (FICC–2010–09). In its filing with the Commission, FICC included statements concerning the purpose of and basis for the proposed rule change. The text of these statements are incorporated into the discussion of the proposed rule change in Section II below. 3 Letter from Jack DiMaio, Managing Director, Morgan Stanley (December 2, 2010); Letter from Douglas Engmann, President, Engmann Options, Inc. (December 6, 2010); Letter from Ronald Filler, Professor of Law and Director of the Center on Financial Services Law, New York Law School (December 8, 2010); Letter from John C. Hiatt, Chief Administrative Officer, Ronin Capital (December 10, 2010); Letter from Richard D. Marshall, Ropes & Gray on behalf of ELX Futures, LP (December 15, 2010); Letter from John Willian, Managing Director, Goldman Sachs (December 17, 2010); Letter from James B. Fuqua and David Kelly, Managing Directors, Legal, UBS Securities, LLC (December 20, 2010); Letter from Donald J. Wilson, Jr., DRW Trading Group (December 21, 2010); Letter from John A. McCarthy, General Counsel, GETCO (December 21, 2010); Letter from Gary DeWaal, Senior Managing Director and Group General Counsel, Newedge USA, LLC (December 21, 2010); Letter from Adam C. Cooper, Senior Managing Director and Chief Legal Officer, Citadel, LLC (December 21, 2010); Letter from William H. Navin, Executive Vice President and General Counsel, The Options Clearing Corporation (December 21, 2010); and Letter from Joan C. Conley, Senior Vice President & Corporate Secretary, NASDAQ OMX (December 21, 2010). 4 Letter from Douglas Landy, Allen & Overy on behalf of the Fixed Income Clearing Corporation (January 4, 2011); Letter from Michael Bodson, Executive Managing Director, Fixed Income Clearing Corporation and Walt Lukken, Chief Executive Officer, New York Portfolio Clearing, LLC (February 7, 2011); Letter from Michael Bodson, Executive Managing Director, Fixed Income Clearing Corporation and Walt Lukken, Chief Executive Officer, New York Portfolio Clearing, LLC (February 27, 2011); and Letter from Alex Kogan, Vice President and Deputy General Counsel, NASDAQ OMX (January 10, 2011). 5 NYPC is jointly owned by NYSE Euronext and The Depository Trust & Clearing Corporation (‘‘DTCC’’). DTCC is the parent company of FICC. On January 31, 2011, the Commodity Futures Trading Commission (‘‘CFTC’’) approved NYPC’s registration as a derivatives clearing organization (‘‘DCO’’) 2 Securities PO 00000 Frm 00132 Fmt 4703 Sfmt 4703 will be able to combine their positions at GSD with their positions at NYPC, or those positions of certain permitted affiliates cleared at NYPC, within a single margin portfolio (‘‘Margin Portfolio’’). The proposed rule change also makes certain other related changes to GSD’s rules. A. Cross-Margining With NYPC Under the proposed rule, a member of FICC that is also an NYPC clearing member (‘‘Joint Clearing Member’’) could in accordance with the provisions of the GSD and NYPC Rules, elect to participate in the cross-margining arrangement. FICC’s rules permit a GSD netting member that is a member (or that has an affiliate that is a member) of one or more Futures Clearing Organizations (‘‘FCO’’),6 such as NYPC, to become a cross-margining participant in a cross-margining arrangement between FICC and one or more FCOs with the consent of FICC and each such FCO. A netting member shall become a cross-margining participant upon acceptance of FICC and each applicable FCO of an agreement executed by such cross-margining participant in the form specified in the applicable crossmargining agreement.7 Participating in the cross-margining arrangement would permit a Joint Clearing Member to have its margin requirement calculated taking into account both its positions at FICC and NYPC, which should provide a clearer picture of its risk exposure and generally facilitate better risk assessment by FICC. Specifically, each Joint Clearing Member would have its margin requirement with respect to Eligible Positions (i.e., positions in certain securities netted by FICC or certain futures contracts cleared by an FCO) 8 in its proprietary account at pursuant to Section 5b of the Commodity Exchange Act and Part 39 of the Regulations of the CFTC. 6 ‘‘FCO’’ is defined in GSD Rule 1 as a clearing organization for a board of trade designated as a contract market under Section 5 of the Commodity Exchange Act that has entered into a CrossMargining Agreement with FICC. 7 See GSD Rule 43, Cross-Margining Arrangements, Section 2. The cross-margining agreement between FICC and NYPC as well as the cross-margining participant agreements for joint and permitted affiliates are attached to FICC’s filing of proposed rule change SR–FICC–2010–09. 8 The term ‘‘Eligible Position’’ is currently defined in GSD’s rules as a position in certain Eligible Netting Securities netted by FICC, or certain Government securities futures contracts or interest rate futures contracts cleared by a FCO as identified in a Cross-Margining Agreement as eligible for cross-margining treatment. ‘‘Eligible Netting Security’’ is defined in GSD Rule 1 as an Eligible Security that FICC has designed as eligible for netting. ‘‘Eligible Security’’ is defined generally in GSD Rule 1 as a security issued or guaranteed by the E:\FR\FM\04MRN1.SGM 04MRN1

Agencies

[Federal Register Volume 76, Number 43 (Friday, March 4, 2011)]
[Notices]
[Page 12144]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-5038]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


Advanced Optics Electronics, Inc.; Order of Suspension of Trading

March 2, 2011.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Advanced Optics Electronics, Inc. because it has not filed any periodic 
reports since the period ended March 31, 2007.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in Advanced 
Optics Electronics, Inc. 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 company is suspended for the period from 
9:30 a.m. EST on March 2, 2011, through 11:59 p.m. EDT on March 15, 
2011.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2011-5038 Filed 3-2-11; 4:15 pm]
BILLING CODE 8011-01-P