Federal Register / Vol. 77, No. 42 / Friday, March 2, 2012 / Notices 12897 

7Letter from Kathryn L. Beck, Senior Vice 

President, General Counsel and Corporate 

Secretary, Pacific Stock Exchange, to Jerry W. 

Carpenter, Assistant Director, Division of Market 

Regulation, Commission (April 11, 2005) (‘‘April 

2005 Letter’’). 

8PCXE and PCC had previously been wholly 

owned subsidiaries of Archipelago Holdings, Inc. 

Following the merger on March 6, 2006, of New 

York Stock Exchange, Inc. with Archipelago 

Holdings, Inc., the PCX filed with the Securities 

and Exchange Commission a proposed rule change, 

which was effective upon filing, that amended its 

rules to reflect these name changes: From PCX to 

NYSE Arca; from PCX Equities, Inc. to NYSE Arca 

Equities, Inc.; from PCX Holdings, Inc., to NYSE 

Arca Holdings, Inc.; and from the Archipelago 

Exchange, L.L.C. to NYSE Arca, L.L.C. Release No. 

34–53615, 71 FR 19226 (Apr. 13, 2006). 

9Release No. 34–20221, supra note 6. 

10Letter from Kathryn L. Beck, Senior Vice 

President, General Counsel and Corporate 

Secretary, Pacific Stock Exchange, to Jerry W. 

Carpenter, Assistant Director, Division of Market 

Regulation, Commission (April 11, 2005) (‘‘April 

2005 Letter’’). 

11 Id. PCC was incorporated in California on April 

28, 1955, and was dissolved on August 7, 2007. 

LexisNexis, Public Records, Corporate Filings 

search, http://www.lexis.com. 

12 17 CFR 240.17a–1. 

13April 2005 Letter. In addition, NYSE Euronext 

represented to the Commission that as of August 26, 

2011, it had not received any requests over the last 

two years for documents relating to PCC and that 

no claims relating to the operations of PCC had 

been made. Email from Janet McGinness, Senior 

Vice President, Legal and Corporate Secretary, 

NYSE Euronext, to David Karasik, Division of 

Trading and Markets, Commission (Aug. 26, 2011). 

As a result of the business combination of NYSE 

Group, Inc. and Euronext N.V., the businesses of 

NYSE Group, including that of the NYSE LLC and 

NYSE Arca, and Euronext are now held under a 

single, publicly traded holding company named 

NYSE Euronext. Release Nos. 34–55293 (Feb. 14, 

2007), 72 FR 8033 (Feb. 22, 2007) and 34–55026 

(Dec. 29, 2006), 72 FR 814 (Jan. 8, 2007). 14 15 U.S.C. 78s(a)(3). 1 15 U.S.C. 78q–1(b) and 78s(a)(1). 

2 17 CFR 240.17Ab2–1. 

3Release No. 34–11875 (Nov. 26, 1975), 40 FR 

55910 (Dec. 2, 1975). 

4Release Nos. 34–13584 (June 1, 1977), 42 FR 

30066 (Jun. 10, 1977); 34–13911 (Aug. 31, 1977), 

1977 WL 190688; 34–14531, 43 FR 10288 (Mar. 10, 

1978); and 34–18584 (Mar. 22, 1982), 47 FR 13266 

(Mar. 29, 1982). 

5 15 U.S.C. 78q–1 and 17 CFR 240.17Ab2–1. 

6Release No. 34–20221, 48 FR 45167 (Oct. 3, 

1983). 

7Letter from Kathryn L. Beck, Senior Vice 

President, General Counsel and Corporate 

Secretary, Pacific Stock Exchange, to Jerry W. 

Carpenter, Assistant Director, Division of Market 

Regulation, Commission (April 11, 2005) (‘‘April 

2005 Letter’’). 

8PCXE and PCC had previously been wholly 

owned subsidiaries of Archipelago Holdings, Inc. 

Following the merger of New York Stock Exchange, 

Inc. with Archipelago Holdings, Inc., on March 6, 

2006, the PCX filed a rule proposal with the 

Securities and Exchange Commission, which was 

effective upon filing, that amended its rules to 

reflect these name changes: From PCX to NYSE 

Arca; from PCX Equities, Inc. to NYSE Arca 

Equities, Inc.; from PCX Holdings, Inc., to NYSE 

Arca Holdings, Inc.; and from the Archipelago 

Exchange, L.L.C. to NYSE Arca, L.L.C. Release No. 

34–53615, 71 FR 19226 (Apr. 13, 2006). For ease of 

reference NYSE Arca is generally referred to by its 

former name, PCX, in this order. 

9Release No. 34–20221, supra note 6. 

10April 2005 Letter. PSDTC was incorporated in 

California on September 5, 1974, and was dissolved 

on October 19, 1992. LexisNexis, Public Records, 

Corporate Filings search (http://www.lexis.com). 

PCX stated that PSDTC voluntarily surrendered its 

license with the California State Banking 

Department. April 2005 Letter. 

11April 2005 Letter. 

12 17 CFR 240.17a–1. 

13April 2005 Letter. In addition, NYSE Euronext 

represented to the Commission that as of August 26, 

Continued 

Exchange, Inc. (‘‘PCX’’) 7 (now NYSE 

Arca, Inc. [‘‘NYSE Arca’’]).8 Prior to the 

transaction described below, PCC 

offered various clearance and settlement 

services, such as trade recording for 

PCX-listed and over-the-counter 

securities transactions, trade 

comparison, continuous net settlement, 

and book-entry depository services.9

II. Cancellation of PCC’s Registration as 

a Clearing Agency 

In an April 2005 Letter, PCX stated 

that on or about April 15, 1987, it had 

‘‘transferred substantially all of its 

principal settlement and clearance 

activities to the National Security [sic] 

Clearing Corporation (‘NSCC’).’’ 10 PCX 

further stated that on September 13, 

2003, the PCX Board of Governors and 

PCXE Board of Directors voted to take 

all necessary steps to dissolve PCC.11

Finally, PCX represented, among other 

things, that pursuant to Rule 17a–1,12

PCX would retain at least one copy of 

all documents, including all 

correspondence, memoranda, papers, 

books, notices, accounts, and other such 

records of PCC in PCX’s or PCXE’s 

possession for at least 5 years from the 

date of dissolution of PCC.13

Section 19(a)(3) of the Act 14 provides 

that in the event any self-regulatory 

organization is no longer in existence or 

has ceased to do business in the 

capacity specified in its application for 

registration, ‘‘the Commission, by order, 

shall cancel its registration.’’ 

Based upon the representations and 

undertakings made by PCX to the 

Commission and because PCC is no 

longer in existence and has ceased to do 

business in the capacity specified in its 

registration application, the 

Commission is canceling its registration 

effective February 24, 2012. 

It is therefore ordered that: 

Effective February 24, 2012, based on 

the facts and representations noted 

above, PCC’s registration as a clearing 

agency under Section 17A of the 

Exchange Act and Rule 17Ab2–1 

thereunder is cancelled. 

By the Commission. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–5055 Filed 3–1–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66460; File No. 600–10] 

Self-Regulatory Organizations; Pacific 

Securities Depository Trust Company; 

Order Cancelling Clearing Agency 

Registration 

February 24, 2012. 

I. Background 

On December 1, 1975, pursuant to 

Sections 17A(b) and 19(a)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 17Ab2–1 

thereunder,2 the Securities and 

Exchange Commission (‘‘Commission’’) 

approved on a temporary basis the 

application for registration as a clearing 

agency filed by the Pacific Securities 

Depository Trust Company (‘‘PSDTC’’).3

By subsequent orders, the Commission 

extended PSDTC’s temporary 

registration.4 On September 23, 1983, 

pursuant to Section 17A and Rule 

17Ab2–1 thereunder,5 the Commission 

approved on a permanent basis PSDTC’s 

registration as a clearing agency.6

PSDTC was a wholly owned 

subsidiary of the Pacific Exchange, Inc. 

(‘‘PCX’’) 7 (now NYSE Arca, Inc. [‘‘NYSE 

Arca’’]).8 Prior to the transaction 

described below, PSDTC offered various 

clearance and settlement services such 

as trade recording for Pacific Stock 

Exchange-listed and over-the-counter 

securities transactions, trade 

comparison, continuous net settlement, 

and book-entry depository services.9

II. Cancellation of PSDTC’s Registration 

as a Clearing Agency 

In the April 2005 Letter, PCX notified 

the Commission that PSDTC had been 

dissolved.10 PCX represented PCX had 

diligently identified and paid all PSDTC 

claims and liabilities including 

completing the outstanding PSDTC 

transaction balances and making final 

monetary distributions to the proper 

parties or if the proper parties were not 

identified remitted to the State of 

California in accordance with state 

escheatment regulations.11

In connection with the dissolution of 

PSDTC, PCX represented that pursuant 

to Rule 17a–1 12 PCX would retain at 

least one copy of all documents, 

including all correspondence, 

memoranda, papers, books, notices, 

accounts, and other such PSDTC records 

in PCX’s possession for at least 5 years 

from the date of termination of PSDTC’s 

registration as a clearing agency.13


tkelley on DSK3SPTVN1PROD with NOTICES
12898 Federal Register / Vol. 77, No. 42 / Friday, March 2, 2012 / Notices 

2011, it had not received any requests over the last 

two years for documents relating to PSDTC and that 

no claims relating to the operations of PSDTC had 

been made. Email from Janet McGinness, Senior 

Vice President, Legal and Corporate Secretary, 

NYSE Euronext, to David Karasik, Division of 

Trading and Markets, Commission (Aug. 26, 2011). 

As a result of the business combination of NYSE 

Group, Inc. and Euronext N.V., the businesses of 

NYSE Group, including that of the NYSE LLC and 

NYSE Arca, and Euronext are now held under a 

single, publicly traded holding company named 

NYSE Euronext. Release Nos. 34–55293 (Feb. 14, 

2007), 72 FR 8033 (Feb. 22, 2007) and 34–55026 

(Dec. 29, 2006), 72 FR 814 (Jan. 8, 2007). 

14 15 U.S.C. 78s(a)(3). 

1 15 U.S.C. 78q–1(b) and 78s(a)(1). 

2 17 CFR 240.17Ab2–1. 

3Release No. 34–11875 (Nov. 26, 1975), 40 FR 

55910 (Dec. 2, 1975). 

4Release Nos. 34–13584, 42 FR 30066 (Jun. 10, 

1977); 34–13911 (Aug. 31, 1977), 1977 WL 190688; 

34–14531, 43 FR 10288 (Mar. 10, 1978); and 34– 

18584 (March 22, 1982), 47 FR 13266 (Mar. 29, 

1982). 

5 15 U.S.C. 78q–1 and 17 CFR 240.17Ab2–1. 

6Release No. 34–20221, 48 FR 45167 (Oct. 3, 

1983). 

7Letter from James A. Blanda, Senior Vice 

President & Treasurer, to Jerry Carpenter, Division 

of Market Regulation (now the Division of Trading 

and Markets), Commission (April 24, 2003) (‘‘April 

2003 Letter’’). 

8Release No. 34–20221, supra note 6. See also 

Letter from David C. Whitcomb Jr., General 

Counsel, Chicago Stock Exchange, to David Karasik, 

Division of Trading and Markets, Commission (Oct. 

28, 2009) (‘‘October 2009 Letter’’). 

9April 2003 Letter. MSTC was incorporated in 

Illinois on April 19, 1973, and was dissolved on 

December 17, 2009. LexisNexis, Public Records, 

Corporate Filings search (http://www.lexis.com) and 

Illinois Office of the Secretary of State (http:// 

www.ilsos.gov/corporatellc/). 

10October 2009 Letter. See also April 2003 Letter. 

11October 2009 Letter. 

12 Id. In addition, CHX represented that as of 

August 16, 2011, CHX has not, to the best of its 

knowledge, received any claims against, or 

document requests regarding, MSTC within the last 

two years. Email from James G. Ongeena, Vice 

President and Associate General Counsel, Chicago 

Stock Exchange, to David Karasik, Division of 

Trading and Markets, Commission (Aug. 16, 2011). 

13 Id. As noted above, CHX represented in April 

2003 that MSTC was no longer in operation and had 

ceased to do business in the capacity specified in 

MSTC’s application for clearing agency registration. 

April 2003 Letter. 

14 15 U.S.C. 78s(a)(3). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

Section 19(a)(3) of the Act 14 provides 

that in the event any self-regulatory 

organization is no longer in existence or 

has ceased to do business in the 

capacity specified in its application for 

registration, ‘‘the Commission, by order, 

shall cancel its registration.’’ 

Based upon the representations and 

undertakings made by PCX to the 

Commission and because PSDTC is no 

longer in existence and has ceased to do 

business in the capacity specified in its 

registration application, the 

Commission is canceling its registration 

effective February 24, 2012. 

It is therefore ordered that: 

Effective February 24, 2012, based on 

the facts and representations noted 

above, PSDTC’s registration as a clearing 

agency under Section 17A of the 

Exchange Act and Rule 17Ab2–1 

thereunder is cancelled. 

By the Commission. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–5056 Filed 3–1–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66461; File No. 600–7] 

Self-Regulatory Organizations; 

Midwest Securities Trust Company; 

Order Cancelling Clearing Agency 

Registration 

February 24, 2012. 

I. Background 

On December 1, 1975, pursuant to 

Sections 17A(b) and 19(a)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 17Ab2–1 

thereunder,2 the Securities and 

Exchange Commission (‘‘Commission’’) 

approved on a temporary basis the 

application for registration as a clearing 

agency filed by the Midwest Securities 

Trust Company (‘‘MSTC’’).3 By 

subsequent orders, the Commission 

extended MSTC’s temporary 

registration.4 On September 23, 1983, 

pursuant to Section 17A and Rule 

17Ab2–1 thereunder,5 the Commission 

approved on a permanent basis MSTC’s 

registration as a clearing agency.6 MSTC 

was a subsidiary of The Chicago Stock 

Exchange, Incorporated (‘‘CHX’’) 7 and 

operated as a securities depository and 

trust company providing trade 

recording, comparison, clearance, and 

settlement services.8

II. Cancellation of MSTC’s Registration 

as a Clearing Agency 

In a letter dated April 24, 2003, CHX 

stated that MSTC was no longer in 

operation and therefore had ceased to 

do business in the capacity specified in 

MSTC’s application for registration.9

Further, in a letter dated October 28, 

2009, CHX indicated that MSTC had 

tendered its Certificate of Authority to 

the Illinois Office of Banks and Real 

Estate (‘‘OBRE’’) and referenced an 

agreement between CHX and OBRE 

regarding the transfer of long-abandoned 

property from MSTC to OBRE.10 As part 

of the subsequent wind down process, 

MSTC and CHX entered into an 

agreement with The Depository Trust 

Company (‘‘DTC’’) under which DTC 

assumed all rights, title, and interest to 

the name Kray & Co., the nominee 

partnership for MSTC (‘‘Kray’’).11 CHX 

stated that, given the length of time that 

has elapsed since MSTC ceased active 

operations, CHX did not anticipate any 

future claims against MSTC, OBRE, 

Kray, or CHX.12 CHX also stated that it 

would retain MSTC’s records that were 

subject to Rule 17a–1 in accordance 

with CHX’s document retention policies 

and that, as of October 28, 2009, most 

of the records required to be retained by 

Rule 17a–1 had exceeded the five year 

retention period required by Rule 17a– 

1(b).13

Section 19(a)(3) of the Act 14 provides 

that in the event any self-regulatory 

organization is no longer in existence or 

has ceased to do business in the 

capacity specified in its application for 

registration, ‘‘the Commission, by order, 

shall cancel its registration.’’ 

Based upon the representations and 

undertakings made by CHX to the 

Commission with regard to MSTC’s 

records and any potential future claims 

against MSTC and because MSTC is no 

longer in existence and has ceased to do 

business in the capacity specified in its 

registration application, the 

Commission is canceling MSTC’s 

registration effective February 24, 2012. 

It is therefore ordered that: 

Effective February 24, 2012, based on 

the facts and representations noted 

above, MSTC’s registration as a clearing 

agency under Section 17A of the Act 

and Rule 17Ab2–1 thereunder is 

cancelled. 

By the Commission. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–5057 Filed 3–1–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66472; File No. SR–C2– 

2012–008] 

Self-Regulatory Organizations; C2 

Options Exchange, Incorporated; 

Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Amend the Fees Schedule 

February 27, 2012. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on February 

23, 2012, C2 Options Exchange, 

Incorporated (the ‘‘Exchange’’ or ‘‘C2’’) 

filed with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 


tkelley on DSK3SPTVN1PROD with NOTICES