Louisiana Disaster Number LA-00048, 55889 [2012-22265]
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Federal Register / Vol. 77, No. 176 / Tuesday, September 11, 2012 / Notices
would otherwise, except for the
specified restrictions on trading with
certain incoming orders, operate as a PL
Order and retain its standing in
execution priority among PL Orders. In
the instances when an incoming order
meets one of the PL Select Order
restrictions, the PL Select Order would
not interact with the incoming order
and could be traded through.
The Exchange believes that the
restrictions on trading with incoming
IOC or ISO orders would enable Users 8
to designate that their PL Orders would
not trade with interest that would never
become displayed or passive liquidity
on the Exchange. The Exchange believes
that the final restriction would serve to
attract larger-sized PL Orders because
the User would not have to risk having
the PL Select Order being swept up by
larger-sized contra interest, thereby
obviating the primary purpose of the PL
Order types: to provide price
improvement.
The Exchange further proposes that
upon notice to ETP Holders, the
Corporation 9 may suspend the entry of
PL Select Orders. If such provision is
invoked, Users may continue to submit
PL Orders, but would not be able to
enter PL Select Orders and all open PL
Select Orders on the NYSE Arca trading
book would be cancelled back to the
User. The Exchange believes that it is
appropriate to be able to suspend the
entry of PL Select Orders in
circumstances where the volume of
orders creates an issue with the ability
of the Exchange to timely process
inbound orders to the Exchange.
Because of the related technology
changes that this proposed rule change
would require, the Exchange proposes
to announce the initial implementation
date via Trader Update.
srobinson on DSK4SPTVN1PROD 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.10 In particular, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(5) of the Act,11 which requires,
among other things, that the rules of a
national securities exchange be
8 See Arca Equities Rule 1.1(yy) (defining the
term ‘‘User’’).
9 See Arca Equities Rule 1.1(k) (defining the term
‘‘Corporation’’).
10 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).
11 15 U.S.C. 78f(b)(5).
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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; and
are not designed to permit unfair
discrimination between customers,
issuers, brokers or dealers.
The Commission finds the instant
proposed rule change to be consistent
with the Act. The Commission notes
that the Exchange believes that the
proposed rule change should allow PL
Select Order users to avoid interacting
with market participants that are
submitting orders primarily for the
purpose of probing for or ‘‘pinging’’
hidden interest on the NYSE Arca book
as opposed to adding liquidity to the
market. The Exchange also indicates
that the probing or ‘‘pinging’’ interest
that PL Select Orders would avoid is
more likely to come from professional
traders than non-professional traders. In
addition, the Exchange believes that use
of the PL Select Order could attract
displayed liquidity that would be
eligible for execution against PL Select
Orders or posting on the NYSE Arca
book if not executed by PL Select Orders
or other resting liquidity.
The Commission notes further that
the Exchange believes that, because PL
Select Orders would not interact with
larger-sized incoming interest, market
participants could be incentivized to
use PL Select Orders to provide price
improvement opportunities, thereby
promoting more favorable executions for
the benefit of public customers. In
addition, the Exchange believes that
market participants also could be
incentivized to route more aggressively
priced, displayable interest to the
Exchange because of an increased
likelihood of receiving price
improvement.
Based on the Exchange’s statements,
the Commission believes that the
proposed rule change is consistent with
Section 6(b)(5) of the Act.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,12 that the
proposed rule change (SR–NYSEArca–
2012–48) be, and it hereby is, approved.
55889
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–22243 Filed 9–10–12; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #13271 and #13272]
Louisiana Disaster Number LA–00048
U.S. Small Business
Administration.
ACTION: Amendment 1.
AGENCY:
This is an amendment of the
Presidential declaration of a major
disaster for the State of Louisiana
(FEMA–4080–DR), dated 08/31/2012.
Incident: Hurricane Isaac.
Incident Period: 08/26/2012 and
continuing.
Effective Date: 09/01/2012.
Physical Loan Application Deadline
Date: 10/30/2012.
EIDL Loan Application Deadline Date:
05/29/2013.
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: The notice
of the Presidential disaster declaration
for the State of Louisiana, dated 08/31/
2012 is hereby amended to include the
following areas as adversely affected by
the disaster:
Primary Parishes: (Physical Damage and
Economic Injury Loans): Ascension,
Lafourche, Livingston, Orleans.
Contiguous Parishes: (Economic Injury
Loans Only):
Louisiana: Assumption, East Baton
Rouge, Iberville, Saint Helena,
Terrebonne.
SUMMARY:
All other information in the original
declaration remains unchanged.
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
James E. Rivera,
Associate Administrator for Disaster
Assistance.
[FR Doc. 2012–22265 Filed 9–10–12; 8:45 am]
BILLING CODE 8025–01–P
12 15
PO 00000
U.S.C. 78s(b)(2).
Frm 00096
Fmt 4703
13 17
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CFR 200.30–3(a)(12).
11SEN1
]]>Agencies
[Federal Register Volume 77, Number 176 (Tuesday, September 11, 2012)]
[Notices]
[Page 55889]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-22265]
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SMALL BUSINESS ADMINISTRATION
[Disaster Declaration 13271 and 13272]
Louisiana Disaster Number LA-00048
AGENCY: U.S. Small Business Administration.
ACTION: Amendment 1.
-----------------------------------------------------------------------
SUMMARY: This is an amendment of the Presidential declaration of a
major disaster for the State of Louisiana (FEMA-4080-DR), dated 08/31/
2012.
Incident: Hurricane Isaac.
Incident Period: 08/26/2012 and continuing.
Effective Date: 09/01/2012.
Physical Loan Application Deadline Date: 10/30/2012.
EIDL Loan Application Deadline Date: 05/29/2013.
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: The notice of the Presidential disaster
declaration for the State of Louisiana, dated 08/31/2012 is hereby
amended to include the following areas as adversely affected by the
disaster:
Primary Parishes: (Physical Damage and Economic Injury Loans):
Ascension, Lafourche, Livingston, Orleans.
Contiguous Parishes: (Economic Injury Loans Only):
Louisiana: Assumption, East Baton Rouge, Iberville, Saint Helena,
Terrebonne.
All other information in the original declaration remains
unchanged.
(Catalog of Federal Domestic Assistance Numbers 59002 and 59008)
James E. Rivera,
Associate Administrator for Disaster Assistance.
[FR Doc. 2012-22265 Filed 9-10-12; 8:45 am]
BILLING CODE 8025-01-P
