New York Disaster Number NY-00130, 68195 [2012-27781]
Download as PDF
<![CDATA[
Federal Register / Vol. 77, No. 221 / Thursday, November 15, 2012 / Notices
TKELLEY on DSK3SPTVN1PROD with NOTICES
proposed rule change, as modified by
Amendment No. 1.
II. Description of the Proposal
The Exchange proposes to amend
Commentary .10 to (i) expand the
number of expirations available under
the STOS Program; (ii) allow the
Exchange to delist, in certain
circumstances, series in the STOS
program that do not have open interest;
and (iii) allow the Exchange to list, in
certain circumstances, additional series
in the STOS program.
The proposed rule change allows the
Exchange to open a maximum of five
consecutive expirations under the STOS
Program for trading on the Exchange.
The Exchange notes that it will not add
expirations in a STOS series if such
expirations would coincide with an
existing expiration of a monthly or
quarterly series of an option in the same
class of the STOS series.
The proposed rule change also
amends the circumstances in which the
Exchange may delist or list series in the
STOS Program. Specifically, the
proposed rule change provides that the
Exchange will delist series in the STOS
Program with no open interest in both
the call and the put series having a: (i)
Strike price higher than the highest
strike price with open interest in the put
and/or call series for a given expiration
month; and (ii) strike price lower than
the lowest strike price with open
interest in the put and/or call series for
a given month, so as to list series that
are at least 10% but not more than 30%
above or below the current price of the
underlying security. The Exchange
would also be permitted, under the
proposed rule change, to list additional
series in excess of the 30 series
otherwise allowed 4 under Commentary
.10 that are between 10% and 30%
above or below the price of the
underlying security. The Exchange will
only be allowed to delist or list series
in accordance with the proposed rule
change in the event that the underlying
security has moved so that there are no
series that are at least 10% above or
below the current price of the
underlying security.
The Exchange asserts that the ability
to list five consecutive expirations
under the STOS Program is designed to
meet increased customer demand and
provide market participants with the
ability to hedge in a greater number of
option classes and series.5 The
Exchange also claims that the proposed
amendments regarding delisting or
listing STOS series are designed to
provide investors flexibility by ensuring
that there are series within the band of
at least 10% but not more than 30%
above or below the current price of the
underlying security.6
VerDate Mar<15>2010
16:22 Nov 14, 2012
Jkt 229001
Amendment No. 1, (SR–NYSEMKT–
2012–42) be, and it hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–27720 Filed 11–14–12; 8:45 am]
III. Discussion and Commission
Findings
BILLING CODE 8011–01–P
After careful review of the proposed
rule change, 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.7 Specifically, the
Commission finds that the proposal is
consistent 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
promote just and equitable principles of
trade, to prevent fraudulent and
manipulative acts, 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 change may
provide the investing public and other
market participants with greater
flexibility to closely tailor their
investment and hedging decisions in a
greater number of series, thus allowing
investors to better manage their risk
exposure.
In approving this proposal, the
Commission notes that the Exchange
has represented that it and OPRA have
the necessary systems capacity to
handle the potential additional traffic
associated with opening of up to five
consecutive expirations under the STOS
Program.9 The Commission expects the
Exchange to monitor the trading volume
associated with the additional options
series listed as a result of this proposal
and the effect of these additional series
on market fragmentation and on the
capacity of the Exchange’s, OPRA’s, and
vendors’ automated systems.
SMALL BUSINESS ADMINISTRATION
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,10 that the
proposed rule change, as modified by
6 See
id.
approving this proposed rule change, the
Commission considered the proposed rule’s impact
on efficiency, competition, and capital formation.
See 15 U.S.C. 78c(f).
8 15 U.S.C. 78f(b)(5).
9 See Notice, supra note 3 at 59237.
10 15 U.S.C. 78s(b)(2).
7 In
4 Commentary .10(a) provides, in part, that for
each option class eligible for participation in the
STOS Program, the Exchange may open up to 30
Short Term Option Series for each expiration date
in that class.
5 See Notice, supra note 3 at 59237.
68195
PO 00000
Frm 00094
Fmt 4703
Sfmt 9990
[Disaster Declaration #13365 and #13366]
New York Disaster Number NY–00130
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 New York
(FEMA–4085–DR), dated 10/30/2012.
Incident: Hurricane Sandy.
Incident Period: 10/27/2012 and
continuing.
Effective Date: 11/02/2012.
Physical Loan Application Deadline
Date: 12/31/2012.
EIDL Loan Application Deadline Date:
07/31/2013.
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 NEW YORK, dated 10/
30/2012 is hereby amended to include
the following areas as adversely affected
by the disaster:
Primary Counties: (Physical Damage and
Economic Injury Loans): Rockland,
Westchester.
Contiguous Counties: (Economic Injury
Loans Only):
Connecticut: Fairfield.
New Jersey: Passaic.
New York: Orange, Putnam.
All other information in the original
declaration remains unchanged.
SUMMARY:
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
James E. Rivera,
Associate Administrator for Disaster
Assistance.
[FR Doc. 2012–27781 Filed 11–14–12; 8:45 am]
BILLING CODE 8025–01–P
11 17
E:\FR\FM\15NON1.SGM
CFR 200.30–3(a)(12).
15NON1
]]>Agencies
[Federal Register Volume 77, Number 221 (Thursday, November 15, 2012)]
[Notices]
[Page 68195]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-27781]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration 13365 and 13366]
New York Disaster Number NY-00130
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 New York (FEMA-4085-DR), dated 10/30/
2012.
Incident: Hurricane Sandy.
Incident Period: 10/27/2012 and continuing.
Effective Date: 11/02/2012.
Physical Loan Application Deadline Date: 12/31/2012.
EIDL Loan Application Deadline Date: 07/31/2013.
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 NEW YORK, dated 10/30/2012 is hereby
amended to include the following areas as adversely affected by the
disaster:
Primary Counties: (Physical Damage and Economic Injury Loans):
Rockland, Westchester.
Contiguous Counties: (Economic Injury Loans Only):
Connecticut: Fairfield.
New Jersey: Passaic.
New York: Orange, Putnam.
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. 2012-27781 Filed 11-14-12; 8:45 am]
BILLING CODE 8025-01-P
