Valley Forge Composite Technologies, Inc.; Order of Suspension of Trading, 22752 [2014-09314]

Download as PDF wreier-aviles on DSK5TPTVN1PROD with NOTICES 22752 Federal Register / Vol. 79, No. 78 / Wednesday, April 23, 2014 / Notices scheme, could allow market participants greater control over the execution of their orders. Specifically, the proposal may help market participants avoid having orders cancelled as a result of a narrow one-MPV price protection limit, particularly in instances when the order’s limit price expresses a willingness to trade more than one MPV away from the NBBO that prevailed at the time the order was received. The Commission notes, however, that such a result may still occur under the proposal, when either the default oneMPV price protection limit applies as a result of the member not providing customized instructions, or when a custom price protection limit sits between an order’s limit price and the NBBO at the time the order is received. The Commission notes further that, in order to accommodate the amended price protection functionality, the proposal will allow orders to trigger pauses at multiple successive price points, either through the Route Timer or Liquidity Refresh mechanisms. In addition to providing market participants greater control over the execution of their orders, the Commission believes that the proposal also could facilitate more order interaction. By allowing orders to execute at multiple price points, up or down to their price protection limit or limit price, and to route to away markets at multiple price points, the proposal will allow market participants to interact with greater liquidity both on MIAX and on away markets and increase the opportunity for their orders to receive an execution. Importantly, as is the case under the current price protection functionality, the Commission notes that under the revised process, MIAX will not execute incoming orders at prices inferior to the then-current NBBO. The Commission believes that the change regarding terminating a Liquidity Refresh Pause when a new quote or order is received during a Liquidity Refresh Pause on the same side of the market as the initiating orders’ remaining contracts that locks or crosses the original NBBO is consistent with the Act. The Commission notes that terminating the pause in such a situation allows the displayed opposite side of the MBBO to receive an immediate execution. Further, the Commission notes that, as under the current MIAX rules, orders will then be processed in the order in which they were received. Finally, the Commission believes that the proposed change to permit immediate routing in an additional situation (i.e., for Public Customer VerDate Mar<15>2010 15:37 Apr 22, 2014 Jkt 232001 orders resting on the book when an incoming Public Customer order has initiated a Route Mechanism) will benefit Public Customers by providing such orders with greater access to marketable away liquidity and will allow such orders more promptly to receive an execution instead of being restricted from immediately routing away. As the Commission noted in its approval of MIAX’s application for registration as a national securities exchange, pursuant to MIAX’s immediate routing process in Rule 529, orders have to meet a number of criteria to be eligible for immediate routing, and as such, many, if not most, orders are likely subject to the one second Route Timer, rather than immediately routing to an away exchange displaying the NBBO.19 While MIAX is not specifically required to route to away markets, the Commission believes that providing an additional opportunity for immediate routing should be beneficial to Public Customer orders. IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act 20 that the proposed rule change (SR–MIAX–2014– 08), is approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.21 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–09211 Filed 4–22–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] Valley Forge Composite Technologies, Inc.; Order of Suspension of Trading April 21, 2014. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Valley Forge Composite Technologies, Inc. because it has not filed any periodic reports since the period ended September 30, 2012. The Commission is of the opinion that the public interest and the protection of 19 See Securities Exchange Act Release No. 68341 (December 3, 2012), 77 FR 73065, 73086–87 (December 7, 2012) (noting that broker-dealers have a duty of best execution and thus broker-dealers need to consider and evaluate the functioning of the MIAX routing mechanisms and the quality of any resulting executions in making their determination of whether to route customer orders to MIAX). 20 15 U.S.C. 78f(b)(2). 21 17 CFR 200.30–3(a)(12). PO 00000 Frm 00135 Fmt 4703 Sfmt 4703 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 abovelisted company is suspended for the period from 9:30 a.m. EDT on April 21, 2014, through 11:59 p.m. EDT on May 2, 2014. By the Commission. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–09314 Filed 4–21–14; 4:15 pm] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION Agency Information Collection Activities: Proposed Request and Comment Request The Social Security Administration (SSA) publishes a list of information collection packages requiring clearance by the Office of Management and Budget (OMB) in compliance with Public Law (Pub. L.) 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. This notice includes revisions of OMB-approved information collections and one new information collection. SSA is soliciting comments on the accuracy of the agency’s burden estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Mail, email, or fax your comments and recommendations on the information collection(s) to the OMB Desk Officer and SSA Reports Clearance Officer at the following addresses or fax numbers. (OMB) Office of Management and Budget, Attn: Desk Officer for SSA, Fax: 202–395–6974, Email address: OIRA_Submission@ omb.eop.gov. (SSA) Social Security Administration, OLCA, Attn: Reports Clearance Director, 3100 West High Rise, 6401 Security Blvd., Baltimore, MD 21235, Fax: 410–966–2830, Email address: OR.Reports.Clearance@ ssa.gov. I. The information collections below are pending at SSA. SSA will submit them to OMB within 60 days from the date of this notice. To be sure we consider your comments, we must E:\FR\FM\23APN1.SGM 23APN1

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[Federal Register Volume 79, Number 78 (Wednesday, April 23, 2014)]
[Notices]
[Page 22752]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-09314]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


Valley Forge Composite Technologies, Inc.; Order of Suspension of 
Trading

April 21, 2014.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Valley Forge Composite Technologies, Inc. because it has not filed any 
periodic reports since the period ended September 30, 2012.
    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. EDT on April 21, 2014, through 11:59 p.m. EDT 
on May 2, 2014.

    By the Commission.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-09314 Filed 4-21-14; 4:15 pm]
BILLING CODE 8011-01-P