Federal Register / Vol. 76, No. 66 / Wednesday, April 6, 2011 / Notices 19173 

11 17 CFR 200.30–3(a)(12). 

1 17 CFR 240.9b–1. 

2See letter from Jean M. Cawley, Senior Vice 

President and Deputy General Counsel, OCC, to 

Sharon Lawson, Senior Special Counsel, Division of 

Trading and Markets (‘‘Division’’), Commission, 

dated May 20, 2010. 

3See letter from Jean M. Cawley, Senior Vice 

President and Deputy General Counsel, OCC, to 

Sharon Lawson, Senior Special Counsel, Division, 

Commission, dated January 19, 2011. 

4See letter from Jean M. Cawley, Senior Vice 

President and Deputy General Counsel, OCC, to 

Sharon Lawson, Senior Special Counsel, Division, 

Commission, dated March 15, 2011. 

5The proposed March 2011 Supplement to the 

ODD amends the February 1994 version of the 

booklet entitled ‘‘Characteristics and Risks of 

Standardized Options,’’ and portions of the May 

2007, June 2008, December 2009 and May 2010 

Supplements. 

6See Securities Exchange Act Release No. 62139 

(May 19, 2010), 75 FR 29597 (May 26, 2010) (SR– 

CBOE–2010–018) (order approving CBOE’s 

proposed rules to list and trade CBOE Gold ETF 

Volatility Index options). 

7For purposes of the ODD, the disclosure will 

make clear that an equity-based volatility index 

measures the implied volatility, or the realized 

variance or volatility of a specified reference 

security. 

8See Securities Exchange Act Release No. 63860 

(February 7, 2011), 76 FR 7888 (February 11, 2011) 

(SR–Phlx–2010–176) (order approving Phlx’s 

proposed rules to list and trade Alpha Index 

options). 

9For purposes of the ODD, relative performance 

indexes are a special type of strategy-based indexes 

that measure the relative performance—generally 

the relative total return—of two index components 

(the target component and the benchmark 

component). The index is calculated by measuring 

the total return of the target component relative to 

the total return of the benchmark component. The 

index will rise as and to the extent that the target 

component outperforms the benchmark component, 

and will fall as and to the extent that the opposite 

occurs. As stated in the March 2011 Supplement, 

as of the date of this Supplement, the only relative 

performance options approved for trading are 

options on indexes of which both index 

components are equity securities, and one of which 

could be a fund share. 

10The Commission notes that the options markets 

must continue to ensure that the ODD is in 

compliance with the requirements of Rule 9b– 

1(b)(2)(i) under the Act, 17 CFR 240.9b–1(b)(2)(i), 

including when changes regarding variability index 

options and relative performance index options are 

made in the future. Any future changes to the rules 

of the options markets concerning variability index 

options and relative performance index options 

would need to be submitted to the Commission 

under Section 19(b) of the Act. 15 U.S.C. 78s(b). 

11 17 CFR 240.9b–1(b)(2)(i). 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–NSX– 

2011–03 and should be submitted on or 

before April 27, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Cathy H. Ahn, 

Deputy Secretary. 

[FR Doc. 2011–8122 Filed 4–5–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–64154; File No. SR–ODD– 

2011–02] 

Self-Regulatory Organizations; the 

Options Clearing Corporation; Order 

Granting Approval of Accelerated 

Delivery of Supplement to the Options 

Disclosure Document Reflecting 

Certain Changes to Disclosure 

Regarding Variability Index Options 

and Relative Performance Index 

Options and Amendment to the 

Options Disclosure Document Inside 

Front Cover 

March 31, 2011. 

On May 21, 2010, the Options 

Clearing Corporation (‘‘OCC’’) submitted 

to the Securities and Exchange 

Commission (‘‘ Commission’’), pursuant 

to Rule 9b–1 under the Securities 

Exchange Act of 1934 (‘‘Act’’),1 five 

preliminary copies of a supplement to 

amend its options disclosure document 

(‘‘ODD’’) to reflect certain changes to 

disclosure regarding variability index 

options.2 On January 20, 2011, the OCC 

submitted to the Commission five 

preliminary copies of a supplement to 

amend its ODD to add disclosure 

regarding relative performance index 

options.3 The OCC is also updating the 

front inside cover page of the ODD so 

that it contains a current list of the U.S. 

exchanges that trade options issued by 

the OCC, and the current names and 

corporate addresses of these options 

exchanges. On March 16, 2011, the OCC 

submitted to the Commission five 

definitive copies of the March 2011 

Supplement 4 to reflect all these 

changes, as described in more detail 

below.5

Variability Indexes 

The ODD currently contains general 

disclosures on the characteristics and 

risks of trading standardized options on 

variability indexes. The current ODD 

states that variability indexes are 

indexes intended to measure the 

implied volatility, or the realized 

variance or volatility, of specified stock 

indexes. In May of 2010, the 

Commission approved the Chicago 

Board Options Exchange’s (‘‘CBOE’’) 

proposal to list and trade options on the 

CBOE Gold ETF Volatility Index.6 The 

March 2011 Supplement amends 

disclosures in the ODD regarding 

variability index options to 

accommodate the listing and trading of 

options on the CBOE Gold ETF 

Volatility Index and similarly structured 

equity-based volatility indexes that are 

intended to measure the volatility of a 

single reference security. Specifically, 

the proposed March 2011 Supplement 

amends the discussion of variability 

index options to provide disclosure 

regarding the characteristics of options 

on equity-based volatility indexes 7 and 

their special risks. 

Relative Performance Indexes 

Currently, the ODD states that indexes 

that may underlie options include stock 

indexes, variability indexes, strategybased indexes, and dividend indexes. 

Recently, the Commission approved the 

NASDAQ OMX PHLX LLC’s (‘‘Phlx’’) 

proposal to list and trade Alpha Index 

options.8 Alpha Indexes measure the 

relative total return of one stock and one 

exchange-traded fund share. The 

proposed March 2011 Supplement 

amends disclosures in the ODD to add 

relative performance indexes as a type 

of index that can underlie an option in 

order to accommodate the listing and 

trading of options on the Alpha Index 

and similarly structured relative 

performance indexes.9 Specifically, the 

proposed March 2011 Supplement adds 

new disclosure regarding the 

characteristics of options on relative 

performance indexes and their special 

risks. The Commission notes that the 

intent of this proposed March 2011 

Supplement is to provide disclosure for 

relative performance options on indexes 

of which both index components are 

equity securities, and one of which 

could be a fund share. 

Inside Cover of ODD 

Lastly, the March 2011 Supplement 

amends the ODD to revise the inside 

front cover page. The revisions are as 

follows: (1) Adding the C2 Options 

Exchange, Incorporated and its 

corporate address to the inside front 

cover of the ODD; (2) updating Phlx’s 

name to incorporate the Phlx’s recent 

conversion to a limited liability 

company; and (3) to reflect NASDAQ 

OMX BX’s recent change in corporate 

address. These changes will ensure that 

the ODD accurately identifies the 

markets on which options currently 

trade and accurately reflects the 

corporate name and address of those 

entities. 

The proposed supplement is intended 

to be read in conjunction with the more 

general ODD, which discusses the 

characteristics and risks of options 

generally.10 Rule 9b–1(b)(2)(i) under the 

Act 11 provides that an options market 

must file five copies of an amendment 

or supplement to the ODD with the 

mstockstill on DSKH9S0YB1PROD with NOTICES

19174 Federal Register / Vol. 76, No. 66 / Wednesday, April 6, 2011 / Notices 

12This provision permits the Commission to 

shorten or lengthen the period of time which must 

elapse before definitive copies may be furnished to 

customers. 

13 17 CFR 240.9b–1. 

14 17 CFR 200.30–3(a)(39). 

Commission at least 30 days prior to the 

date definitive copies are furnished to 

customers, unless the Commission 

determines otherwise, having due 

regard to the adequacy of information 

disclosed and the public interest and 

protection of investors.12 In addition, 

five copies of the definitive ODD, as 

amended or supplemented, must be 

filed with the Commission not later than 

the date the amendment or supplement, 

or the amended ODD, is furnished to 

customers. The Commission has 

reviewed the proposed supplement and 

amendment and finds, having due 

regard to the adequacy of the 

information disclosed and the public 

interest and protection of investors, that 

they may be furnished to customers as 

of the date of this order. 

It is therefore ordered, pursuant to 

Rule 9b–1 under the Act,13 that 

definitive copies of the March 2011 

Supplement amending the ODD (SR– 

ODD–2011–02) to reflect changes to 

disclosure regarding variability index 

options and relative performance index 

options and to the inside front cover of 

the ODD, may be furnished to customers 

as of the date of this order. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Cathy H. Ahn, 

Deputy Secretary. 

[FR Doc. 2011–8118 Filed 4–5–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

File No. 500–1 

In the Matter of Circuit Systems, Inc., 

Global Energy Group, Inc., Integrated 

Medical Resources, Inc., iNTELEFILM 

Corp., and Lot$off Corp.; Order of 

Suspension of Trading 

April 4, 2011. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Circuit 

Systems, Inc. because it has not filed 

any periodic reports since the period 

ended January 31, 2000. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Global 

Energy Group, Inc. because it has not 

filed any periodic reports since the 

period ended September 30, 2006. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Integrated 

Medical Resources, Inc. because it has 

not filed any periodic reports since the 

period ended September 30, 1998. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of 

iNTELEFILM Corp. because it has not 

filed any periodic reports since the 

period ended March 31, 2002. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Lot$off 

Corp. because it has not filed any 

periodic reports since the period ended 

October 30, 1998. 

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. EDT on April 4, 

2011, through 11:59 p.m. EDT on April 

15, 2011. 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2011–8291 Filed 4–4–11; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of Centrack International, 

Inc., Alternafuels, Inc., Intelligent 

Medical Imaging, Inc., and Optimark 

Data Systems, Inc.; Order of 

Suspension of Trading 

April 4, 2011. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Centrack 

International, Inc. because it has not 

filed any periodic reports since the 

period ended February 28, 2002. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of 

Alternafuels, Inc. because it has not 

filed any periodic reports since the 

period ended December 31, 2003. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Intelligent 

Medical Imaging, Inc. because it has not 

filed any periodic reports since the 

period ended September 30, 1999. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Optimark 

Data Systems, Inc. because it has not 

filed any periodic reports since the 

period ended August 31, 1999. 

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. EDT on April 4, 

2011, through 11:59 p.m. EDT on April 

15, 2011. 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2011–8290 Filed 4–4–11; 4:15 pm] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

State Trade and Export Promotion 

(STEP) Pilot Grant Program 

AGENCY: Office of International Trade; 

U.S. Small Business Administration 

(SBA) 

ACTION: SBA Program Announcement 

No. OIT–STEP–2011–01, Modification 

#1. 

SUMMARY: Program announcement No. 

OIT–STEP–2011–01 has been modified 

as follows: 

• The application closing date has 

been extended from April 26 to May 10, 

2011. 

• Section III. C. 4, INELIGIBLE 

APPLICANTS FOR THIS 

COOPERATION AGREEMENT, (p.8), 

Add: [Note: An applicant will not be 

considered a pass-through if it is an 

agency or instrumentality of the 

government of a State (i.e., is subject to 

the unilateral control of the State) or if 

it has been officially designated by a 

State as being the sole entity responsible 

for conducting the State’s trade and 

export activities prior to the date of 

application submission for a STEP 

grant.] 

• Section IV A. 1, Governor’s Letter of 

Endorsement for Applications, (p. 8), 

Add: If, prior to applying for the STEP 

mstockstill on DSKH9S0YB1PROD with NOTICES