69730 Federal Register / Vol. 75, No. 219 / Monday, November 15, 2010 / Notices 

5 15 U.S.C. 78f(b). 

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

provide the Commission with written notice of its 

intent to file the proposed rule change, along with 

a brief description and text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. The 

Exchange has fulfilled this requirement. 

9The text of the proposed rule change is available 

on the Commission’s Web site at http:// 

www.sec.gov. 

10 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A)(iii). 

cancelled by the submitting ETP Holder. 

Each execution and subsequent 

reposting prior to exhaustion or 

cancellation would result in a new time 

priority. 

The Exchange believes the 

elimination of the Tracking Order’s 

current cancellation feature would 

benefit Exchange ETP Holders and 

customers by maintaining available 

liquidity in the Tracking Order Process, 

thereby increasing the likelihood that 

Tracking Orders would interact with 

contra-side liquidity and receive an 

execution. The proposed amendment 

would also increase ETP Holder 

efficiency with respect to time and 

messaging resources by eliminating the 

need to re-enter the balance of partially 

executed Tracking Orders. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Securities Exchange Act of 1934 

(the ‘‘Act’’),5 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,6

in particular, in that it is 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. Specifically, the 

Exchange believes that the proposed 

change would maintain available 

liquidity in the Tracking Order Process 

while also increasing ETP Holder 

efficiency with respect to time and 

messaging resources by eliminating the 

need to re-enter the balance of partially 

executed Tracking Orders. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change: (1) Does not significantly affect 

the protection of investors or the public 

interest; (2) does not impose any 

significant burden on competition; and 

(3) by its terms does not become 

operative for 30 days after the date of 

this filing, or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest, the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act 7 and Rule 

19b–4(f)(6) thereunder.8

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NYSEArca–2010–96 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities Exchange Commission, 100 F 

Street, NE., Washington, DC 20549– 

1090. 

All submissions should refer to File 

Number SR–NYSEArca–2010–96. This 

file number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission,9 all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street, NE., 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. All comments received will 

be posted without change; the 

Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR– 

NYSEArca–2010–96 and should be 

submitted on or before December 6, 

2010. 

For the Commission, by the Division 

of Trading and Markets, pursuant to 

delegated authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28690 Filed 11–12–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63268; File No. SR–SCCP– 

2010–03] 

Self-Regulatory Organizations; Stock 

Clearing Corporation of Philadelphia; 

Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to the Suspension of 

Certain Provisions Due to Inactivity 

November 8, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on October 

27, 2010, Stock Clearing Corporation of 

Philadelphia (‘‘SCCP’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

primarily by SCCP. SCCP filed the 

proposed rule change pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 


srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 75, No. 219 / Monday, November 15, 2010 / Notices 69731 

4 17 CFR 240.19b–4(f)(3). 

5 15 U.S.C. 78q–1. 

6 15 U.S.C. 78q–1. 

7 15 U.S.C. 78q–1(b)(3)(F). 

Rule 19b–4(f)(3) 4 so that the proposal 

was effective upon filing with the 

Commission. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

SCCP proposes to amend its By-Laws 

to: (1) Suspend certain maintenance and 

reporting requirements during the 

period of inactivity of SCCP; (2) remove 

all references to the Philadelphia 

Depository Trust Company; (3) remove 

the requirement to furnish an annual 

statement of SCCP’s business and 

affairs; (4) remove references to certain 

standing committees of NASDAQ OMX 

PHLX (‘‘PHLX’’); (5) reflect the change of 

the name of The Philadelphia Stock 

Exchange to NASDAQ OMX PHLX LLC; 

and (6) make conforming changes to the 

rules. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

SCCP included statements concerning 

the purpose of and basis for the 

proposed rule change and discussed any 

comments it received on the proposed 

rule change. The text of these statements 

may be examined at the places specified 

in Item IV below. SCCP has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of such statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

SCCP is a wholly owned subsidiary of 

PHLX and is registered with the 

Commission as a clearing agency 

pursuant to Section 17A of the Act.5 On 

July 24, 2008, The NASDAQ OMX 

Group, Inc. completed an acquisition of 

The Philadelphia Stock Exchange and 

renamed it NASDAQ OMX PHLX. 

Thereafter, a decision was made to cease 

SCCP operations and on December 31, 

2008, SCCP ceased all business 

operations with the exception of the 

return of the clearing fund deposits that 

were provided to SCCP by its members 

for the purpose of offsetting SCCP’s 

financial risk while operating a clearing 

agency for the member. SCCP returned 

all clearing fund deposits by September 

30, 2009; therefore, as of that date SCCP 

no longer maintains clearing members 

or any other clearing operations. 

However, SCCP desires to maintain its 

registration as a clearing agency for 

possible active operations in the future. 

Currently, SCCP only conducts the 

administrative operations that are 

required to maintain its registration, 

which generally consist of tax and 

record maintenance obligations, as well 

as the various maintenance and 

reporting requirements of a clearing 

agency. Since SCCP no longer maintains 

members or conducts clearing business 

operations, SCCP is requesting that it 

may suspend certain maintenance and 

reporting requirements where it makes 

sense to do so. SCCP believes that it is 

appropriate under the circumstances of 

SCCP’s inactivity to suspend the 

following portions of its By-Laws or 

Rules during any period in which SCCP 

has suspended its operations and is in 

an inactive status: 

(1) SCCP Article IV Section 2(c) and 

(d): SCCP proposes to suspend the 

requirement that the Board of Directors 

contain at least one participant, and to 

amend the requirement that at least one 

of SCCP’s directors must be a governor 

of the Exchange; 

(2) SCCP Article IV, Section 8: SCCP 

proposes to suspend the requirement to 

maintain Standing Committees; 

(3) SCCP Rule 4, Section 1: SCCP 

proposes to eliminate the need for a 

Participant Fund and furthermore 

defines the term ‘‘inactive’’. 

(4) SCCP Rule 11, Reserve Fund: 

SCCP proposes to suspend the 

requirement for the reserve fund; 

(5) SCCP Rule 28: SCCP proposes to 

suspend the requirement of: (a) 

furnishing annual unconsolidated 

audited comparative financial 

statements prepared in accordance with 

generally accepted accounting 

principles; (b) accompanied by a report 

prepared by an independent public 

accountant; furnishing unaudited 

quarterly financial statements; and (c) 

furnishing an annual review of internal 

control prepared by independent public 

accountants. 

During the time SCCP was active, 

SCCP’s Audit Committee and Finance 

Committee were also the comparable 

committees of SCCP’s parent, The 

Philadelphia Stock Exchange. However, 

PHLX has since eliminated its own 

Audit Committee and Finance 

Committee and allows the function of 

those committees to be performed by 

other board committees within its 

corporate structure. Accordingly, SCCP 

will amend its rules to provide that, in 

the event SCCP resumes active 

operations, it will have its own Audit 

Committee and Finance Committee. 

SCCP also proposes to remove SCCP 

By-Law Article X regarding the 

presentation of an annual statement of 

the corporation at each annual meeting. 

SCCP believes Article X is not legally 

required and therefore proposes to 

remove this language permanently. 

SCCP also proposes to make certain 

administrative changes. Certain SCCP 

By-Laws and rules reference the 

Philadelphia Depository Trust Company 

(‘‘Philadep’’), a trust company that was 

deregistered as a national clearing 

agency as of December 31, 2002, and 

dissolved as a trust company in the 

Commonwealth of Pennsylvania on 

August 7, 2004. At this time, SCCP 

proposes to eliminate all references to 

Philadep. In addition, SCCP proposes to 

eliminate Rule 4, Section 1, paragraph 

four, section (ii). This section is 

duplicative of section (i). Furthermore, 

SCCP proposes to make clerical changes 

that are necessary due to the changes 

contained within this proposed rule 

change. Finally, SCCP proposes to 

amend the By-Laws and the Rules to 

reflect the change of the name of The 

Philadelphia Stock Exchange to 

NASDAQ OMX PHLX LLC. 

SCCP states that that its proposal is 

consistent with Section 17A of the Act 6

in general and furthers the objectives of 

Section 17A(b)(3)(F) of the Act 7 in 

particular in that it is designed to 

remove impediments to and perfect the 

mechanism of national market system, 

and, in general does not impose any 

burden on competition not necessary or 

appropriate. SCCP further states that the 

proposal seeks to suspend maintenance 

and reporting requirements and make 

other administrative changes during the 

time when SCCP has suspended its 

business operations. None of these 

changes affect the investing public but 

rather are concerned solely with the 

administration of SCCP. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

SCCP does not believe that the 

proposed rule change will impose any 

burden on competition not necessary or 

appropriate in furtherance of the 

purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

SCCP has not solicited or received 

written comments relating to the 

proposed rule change. SCCP will notify 

the Commission of any written 

comments it receives. 


srobinson on DSKHWCL6B1PROD with NOTICES
69732 Federal Register / Vol. 75, No. 219 / Monday, November 15, 2010 / Notices 

8Supra note 2. 

9Supra note 3. 10 17 CFR 200.30–3(a)(12). 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 8 and Rule 

19b–4(f)(3) 9 because it is concerned 

solely with the administration of SCCP. 

At any time within 60 days of the filing 

of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–SCCP–2010–03 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–SCCP–2010–03. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street, NE., 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of such filing 

also will be available for inspection and 

copying at SCCP’s principal office and 

on SCCP’s Web site at http:// 

nasdaqtrader.com/micro.aspx?id=PHLX 

Rulefilings. All comments received will 

be posted without change; the 

Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–SCCP– 

2010–03 and should be submitted on or 

before December 6, 2010. 

For the Commission by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28663 Filed 11–12–10; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #12379 and #12380] 

U.S. Virgin Islands Disaster #VI–00005 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the Territory of the U.S. Virgin Islands 

(FEMA–1948–DR), dated 11/05/2010. 

Incident: Severe Storms, Flooding, 

Mudslides, and Landslides associated 

with Tropical Storm Otto. 

Incident Period: 10/01/2010 through 

10/08/2010. 

DATES: Effective Date: 11/05/2010. 

Physical Loan Application Deadline 

Date: 01/04/2011. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 08/05/2011. 

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: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

11/05/2010, Private Non-Profit 

organizations that provide essential 

services of governmental nature may file 

disaster loan applications at the address 

listed above or other locally announced 

locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Islands: Saint Croix; Saint John; 

Saint Thomas, Including Water 

Island. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Non-Profit Organizations With 

Credit Available Elsewhere ... 3.625 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 3.000 

For Economic Injury: 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 3.000 

The number assigned to this disaster 

for physical damage is 12379B and for 

economic injury is 12380B. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

James E. Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2010–28671 Filed 11–12–10; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #12375 and #12376] 

South Dakota Disaster #SD–00035 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of South Dakota (FEMA–1947– 

DR), dated 11/02/2010. 

Incident: Severe Storms and Flooding. 

Incident Period: 09/22/2010 through 

09/23/2010. 

DATES: Effective Date: 11/02/2010. 

Physical Loan Application Deadline 

Date: 01/03/2011. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 08/02/2011. 

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. 


srobinson on DSKHWCL6B1PROD with NOTICES