In the Matter of Airbee Wireless, Inc., Axial Vector Engine Corp. (n/k/a Avec Corporation), and Exploration Drilling International, Inc.; Order of Suspension of Trading, 4853 [2012-2161]

Download as PDF Federal Register / Vol. 77, No. 20 / Tuesday, January 31, 2012 / Notices wreier-aviles on DSK5TPTVN1PROD with NOTICES III. Discussion and Commission Findings After careful review, the Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.19 In particular, the Commission finds that the proposed rule change is consistent with Section 6(b)(5) of the Act,20 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. The Commission believes that the proposed rule change could facilitate the execution of complex orders resting on ISE’s complex order book by increasing the opportunities for these orders to execute against interest in the leg market, thereby benefitting investors seeking to execute complex orders. In addition, the Commission believes that the proposal could benefit participants in the leg market by providing additional liquidity, and potentially more favorable executions, for orders and quotes in the leg market. A legging order is a firm order that will be included in ISE’s displayed best bid or offer.21 In addition, a legging order will not be created at a price that would lock or cross the best bid or offer of another exchange.22 The Commission notes that a legging order will be executed only after all other executable orders (including any non-displayed size) and quotes at the same price are executed in full.23 Accordingly, ISE states that legging orders will not affect the existing priority, or execution opportunities, of participants in the leg market.24 As noted above, ISE represents that it will carefully manage and curtail the number of legging orders being generated so that they do not negatively impact system capacity and performance.25 ISE represents, further, that it will curtail the number of legging orders on an objective basis, such as by limiting the number of orders generated 19 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). 20 15 U.S.C. 78f(b)(5). 21 See ISE Rule 715(k). 22 See ISE Rule 715(k)(1). 23 See ISE Rule 715(k)(2). 24 See Notice, 76 FR at 77276. 25 See id. VerDate Mar<15>2010 15:20 Jan 30, 2012 Jkt 226001 in a particular class, and that it will not limit the generation of legging orders on the basis of the entering participant or the participant category of the order (i.e., professional, professional customer, or public customer).26 IV. Conclusion 4853 27, 2012, through 11:59 p.m. EST on February 9, 2012. By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. 2012–2161 Filed 1–27–12; 4:15 pm] BILLING CODE 8011–01–P It is therefore ordered, pursuant to Section 19(b)(2) of the Act,27 that the proposed rule change (SR–ISE–2011–82) is approved. SECURITIES AND EXCHANGE COMMISSION For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.28 Kevin M. O’Neill, Deputy Secretary. [File No. 500–1] [FR Doc. 2012–1986 Filed 1–30–12; 8:45 am] It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Onyx Service & Solutions, Inc. (‘‘ONYX’’) because of questions regarding the accuracy of assertions by ONYX in press releases concerning, among other things, the company’s business projects and prospects. 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 company. 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 January 27, 2012 through 11:59 p.m. EST, on February 9, 2012. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Airbee Wireless, Inc., Axial Vector Engine Corp. (n/k/a Avec Corporation), and Exploration Drilling International, Inc.; Order of Suspension of Trading January 27, 2012. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Airbee Wireless, Inc. 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 Axial Vector Engine Corp. (n/k/a Avec Corporation) because it has not filed any periodic reports since the period ended March 31, 2007. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Exploration Drilling International, Inc. because it has not filed any periodic reports since the period ended September 30, 2008. 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 January 26 See id. U.S.C. 78s(b)(2). 28 17 CFR 200.30–3(a)(12). 27 15 PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 Onyx Service & Solutions, Inc.; Order of Suspension of Trading January 27, 2012. By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. 2012–2160 Filed 1–27–12; 4:15 pm] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #12990 and #12991] North Carolina Disaster #NC–00041 U.S. Small Business Administration. ACTION: Notice. AGENCY: This is a notice of an Administrative declaration of a disaster for the State of NORTH CAROLINA dated 01/19/2012. Incident: Tornadoes, High Wind and Severe Weather. Incident Period: 01/11/2012. Effective Date: 01/19/2012. Physical Loan Application Deadline Date: 03/19/2012. Economic Injury (EIDL) Loan Application Deadline Date: 10/19/2012. SUMMARY: E:\FR\FM\31JAN1.SGM 31JAN1

Agencies

[Federal Register Volume 77, Number 20 (Tuesday, January 31, 2012)]
[Notices]
[Page 4853]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-2161]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Airbee Wireless, Inc., Axial Vector Engine Corp. 
(n/k/a Avec Corporation), and Exploration Drilling International, Inc.; 
Order of Suspension of Trading

January 27, 2012.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Airbee Wireless, Inc. 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 
Axial Vector Engine Corp. (n/k/a Avec Corporation) because it has not 
filed any periodic reports since the period ended March 31, 2007.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Exploration Drilling International, Inc. because it has not filed any 
periodic reports since the period ended September 30, 2008.
    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 January 27, 2012, through 11:59 
p.m. EST on February 9, 2012.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2012-2161 Filed 1-27-12; 4:15 pm]
BILLING CODE 8011-01-P
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