Federal Register / Vol. 77, No. 74 / Tuesday, April 17, 2012 / Notices 22829 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Changes are marked to the rule text that appears 

in the electronic Nasdaq Manual found at http:// 

nasdaqomx.cchwallstreet.com. 

4Time-in-Force denotes the period of time that 

the Nasdaq Market Center will hold an order for 

potential execution. See NASDAQ Rule 4751(h). 

5See Securities Exchange Act Release No. 58546 

(September 15, 2008), 73 FR 54440 (September 19, 

2008) (SR–BATS–2008–003). See BATS Rule 

11.9(c)(13). 

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 the principal office of CBOE. 

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–CBOE–2012–036 and 

should be submitted on or before May 

8, 2012.8

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–9140 Filed 4–16–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66780; File No. SR– 

NASDAQ–2012–049] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend Rule 

4751 

April 11, 2012. 

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 April 5, 

2012, The NASDAQ Stock Market LLC 

(‘‘NASDAQ’’ or the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by NASDAQ. 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 

NASDAQ is filing this proposed rule 

change to amend the definition of 

‘‘Directed Orders’’ in Rule 4751(f)(9). 

The text of the proposed rule change 

is below. Proposed new language is 

italicized; proposed deletions are in 

brackets.3

* * * * * 

4751. Definitions 

(a)–(e) No change. 

(f) The term ‘‘Order Type’’ shall mean 

the unique processing prescribed for 

designated orders that are eligible for 

entry into the System, and shall include: 

(1)–(8) No change. 

(9) ‘‘Directed Orders’’ are orders that 

are directed to an exchange other than 

Nasdaq as directed by the entering party 

without checking the Nasdaq book. If 

unexecuted, the order (or unexecuted 

portion thereof) shall be returned to the 

entering party. [This option may only be 

used for orders with time-in-force 

parameters of IOC.] 

Directed Orders may be designated as 

intermarket sweep orders by the 

entering party to execute against the full 

displayed size of any protected bid or 

offer (as defined in Rule 600(b) of 

Regulation NMS under the Act). A 

broker-dealer that designates an order as 

an intermarket sweep order has the 

responsibility of complying with Rules 

610 and 611 of Regulation NMS. 

Directed Orders marked as intermarket 

sweep may only be used with time-inforce parameters of IOC. 

Directed Orders may not be directed 

to a facility of an exchange that is an 

affiliate of Nasdaq except for Directed 

Orders directed to the NASDAQ OMX 

BX Equities Market or to the NASDAQ 

OMX PSX facility of NASDAQ OMX 

PHLX. 

(10)–(13) No change. 

(g)–(i) No change. 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange 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. The 

Exchange 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 

1. Purpose 

Rule 4751(f)(9) defines a ‘‘Directed 

Order’’ as an order that is directed to an 

exchange other than NASDAQ as 

directed by the entering party without 

checking the NASDAQ book and, if 

unexecuted, the order (or unexecuted 

portion thereof) must be returned to the 

entering party. Currently, however, this 

option is only available for Directed 

Orders with time-in-force (‘‘Time-inForce’’) 4 parameters of immediate or 

cancel (‘‘IOC’’). 

NASDAQ proposes to modify Rule 

4751(f)(9) by removing the above 

restriction. The elimination of this 

restriction would then allow the Nasdaq 

Market Center (‘‘System’’) via its brokerdealer, NASDAQ Execution Services 

(‘‘NES’’), to direct customer orders that 

would post liquidity to particular away 

markets. This would further enable 

members to specify the maximum 

length of time to allow these orders to 

remain booked in accordance with any 

applicable rules of the away market. The 

proposed rule change would enhance 

order execution opportunities for 

market participants by increasing the 

mobility of liquidity, augmenting 

liquidity at less liquid venues and 

generally increasing the 

interconnectedness of the exchanges. 

Additionally, Rule 4751(f)(9) would 

be clarified to specifically state that a 

Directed Order that is marked as an 

intermarket sweep order must be 

marked as IOC. By making this 

clarification, NASDAQ will prevent its 

routing broker from locking or crossing 

an away market because of customer 

instructions. 

The proposed rule change, in essence, 

makes the Exchange’s Directed Order 

similar to the BATS Exchange’s 

‘‘Modified Destination Specific 

Order.’’ 5 The remaining difference 


wreier-aviles on DSK5TPTVN1PROD with NOTICES
22830 Federal Register / Vol. 77, No. 74 / Tuesday, April 17, 2012 / Notices 

6See NASDAQ Rule 4758(a)(1)(A). 

7 15 U.S.C. 78f. 

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). 

between the two order types is that for 

the BATS Modified Destination Specific 

Order, orders that are not executed in 

full are returned to the exchange, while 

for NASDAQ Directed Orders, orders 

that are not executed in full would be 

returned to the customer. 

The only reason initially for the 

inclusion of this restrictive clause in 

Rule 4751(f)(9) was to accurately reflect 

the configuration of the Directed Order 

router. Since NASDAQ now intends to 

provide all Directed Orders with the 

option of being directed to away 

markets to post liquidity, the 

configuration of the System must be 

similarly updated to reflect this change. 

The elimination of this restriction also 

serves to increase investor choice. 

Specifically, Directed Order types that 

do not include an IOC instruction 

would now provide investors with an 

additional method of connecting to 

another exchange for the purpose of 

providing liquidity. Users of NASDAQ’s 

router would be able to, for example, 

post two-sided quotes on any exchange 

without having to establish connectivity 

to these exchanges separately. The 

proposed rule change also would 

improve the competitive landscape by 

creating a means by which NASDAQ 

customers could post liquidity at away 

markets and, thereby, remove barriers to 

participation on these markets. 

Finally, NASDAQ already permits 

order types that allow for the posting of 

liquidity at away markets. In particular, 

the DOTI strategy has the ability to post 

to the New York Stock Exchange 

(‘‘NYSE’’).6 DOTI is a routing option for 

orders that the entering firm wishes to 

direct to the NYSE or NYSE Amex 

without returning to the System. DOTI 

orders check the System for available 

shares and then are sent to destinations 

on the System routing table before being 

sent to NYSE or NYSE Amex, as 

appropriate. DOTI orders do not return 

to the System book after routing. The 

entering firm may alternatively elect to 

have DOTI orders check the System for 

available shares and thereafter be 

directly sent to NYSE or NYSE Amex as 

appropriate. 

2. Statutory Basis 

NASDAQ believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,7 in 

general, and with Section 6(b)(5) of the 

Act,8 in particular, in that the proposal 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, 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, by eliminating the 

restriction which permits only Directed 

Orders with Time-in-Force parameters 

of IOC, as well as by clarifying that a 

Directed Order that is marked as an 

intermarket sweep order must also be 

marked as IOC, NASDAQ believes that 

the proposed rule change will enhance 

the interconnectedness of the national 

market system, increase investor choice, 

and improve order execution 

opportunities for market participants by 

increasing the mobility of liquidity, 

removing barriers to participation, and 

augmenting liquidity at less liquid 

venues. Thus, the proposed rule change 

will directly foster cooperation and will 

remove impediments to and perfect the 

mechanism of a free and open market, 

and is fully consistent with the 

protection of investors and the public 

interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASDAQ does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

NASDAQ believes that the proposed 

rule change will serve to increase the 

interconnectedness of the national 

market system and also serves to 

increase investor choice by allowing the 

System via NES to direct customer 

orders that would post liquidity to 

particular away markets. The changes 

will also enhance NASDAQ’s 

competitive stance vis-a`-vis the 

Modified Destination Specific Order of 

the BATS Exchange. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 9 and Rule 19b– 

4(f)(6) thereunder.10

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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

change should be approved or 

disapproved. 

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 email to rulecomments@sec.gov. Please include File 

Number SR–NASDAQ–2012–049 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–NASDAQ–2012–049. This 

file number should be included on the 

subject line if email 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 


wreier-aviles on DSK5TPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 74 / Tuesday, April 17, 2012 / Notices 22831 

11 17 CFR 200.30–3(a)(12). 

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 will 

also be available for inspection and 

copying at the Exchange’s principal 

office. 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 publicly available. All 

submissions should refer to File 

Number SR–NASDAQ–2012–049 and 

should be submitted on or before May 

8, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–9139 Filed 4–16–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

City Capital Corporation; Order of 

Suspension of Trading 

April 13, 2012. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of City Capital 

Corporation (‘‘City Capital’’). Questions 

have also arisen regarding the accuracy 

and adequacy of publicly available 

information about City Capital because 

it has not filed any periodic reports 

since its delinquent 2009 Form 10–K, 

filed June 15, 2010. 

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 13, 2012 and terminating 

at 11:59 p.m. EDT on April 26, 2012. 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2012–9302 Filed 4–13–12; 11:15 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Public Availability of U.S. Small 

Business Administration FY 2010 

Service Contract Inventory 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of Public Availability of 

FY 2011 Service Contract Inventories. 

SUMMARY: In accordance with Section 

743 of Division C of the Consolidated 

Appropriations Act of 2010 (Pub. L. 

111–117), the Small Business 

Administration is publishing this notice 

to advise the public of the availability 

of the FY 2011 Service Contract 

inventory. This inventory provides 

information on service, contract actions 

over $25,000 that were made in FY 

2011. The information is organized by 

function to show how contracted 

resources are distributed throughout the 

agency. The inventory has been 

developed in accordance with guidance 

issued on November 5, 2010 by the 

Office of Management and Budget’s 

Office of Federal Procurement Policy 

(OFPP). OFPP’s guidance is available at 

http://www.whitehouse.gov/sites/ 

default/files/omb/procurement/memo/ 

service-contract-inventories-guidance11052010.pdf. The Small Business 

Administration has posted its inventory 

and a summary of the inventory on the 

Small Business Administration 

homepage at the following link: http:// 

www.sba.gov/content/service-contractinventory. 

FOR FURTHER INFORMATION CONTACT: 

Questions regarding the service contract 

inventory should be directed to William 

Cody in the Procurement Division at 

(303) 844–3499 or 

William.Cody@sba.gov. 

Dared: March 7, 2012. 

Jonathan I. Carver, 

Chief Financial Officer/Associate 

Administrator for Performance Management, 

Office of the Chief Financial Officer. 

[FR Doc. 2012–8997 Filed 4–16–12; 8:45 am] 

BILLING CODE M 

SOCIAL SECURITY ADMINISTRATION 

Agency Information Collection 

Activities: Emergency Clearance 

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 104–13, the Paperwork 

Reduction Act (PRA) of 1995, effective 

October 1, 1995. This notice includes 

requests for expedited emergency 

clearance of a new collection and a 

revision of an existing OMB-approved 

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 Director at 

the following addresses or fax numbers. 

(OMB), Office of Management and 

Budget, Attn: Desk Officer for SSA, 

Fax: 202–395–6974, mail address: 

OIRA_Submission@omb.eop.gov. 

(SSA), Social Security Administration, 

DCRDP, Attn: Reports Clearance 

Officer, 107 Altmeyer Building, 6401 

Security Blvd., Baltimore, MD 21235, 

Fax: 410–966–2830, Email address: 

OPLM.RCO@ssa.gov. 

SSA submitted the information 

collections below to OMB for 

Emergency Clearance. SSA is requesting 

Emergency Clearance from OMB no 

later than May 17, 2012. Your comments 

regarding the information collections 

would be most useful if OMB and SSA 

receive them within 30 days from the 

date of this publication. To be sure we 

consider your comments, we must 

receive them no later than May 17, 

2012. Individuals can obtain copies of 

the collection instruments by contacting 

the SSA Reports Clearance Director at 

the above fax number or email address. 

1. Protecting the Public and Our 

Personnel To Ensure Operational 

Effectiveness (RIN 0960–AH35), 

Regulation 3729F—20 CFR 422.905, 

422.906—0960–NEW 

Background 

When members of the public 

demonstrate disruptive, violent, or 

threatening actions or behavior toward 

SSA employees, the agency will take 

measures to ensure the safety of 

everyone involved, including banning 

such individuals from appearing in 

person at any of our field offices. In lieu 

of in-person office visits, the agency 

provides services to banned individuals 

through alternate methods, including 

our 800 number, online applications, 

mail services, or, in limited 

circumstances, face-to-face services by 

appointment with additional security 

present. 

On September 2, 2011, the agency 

published regulations and notifications 


wreier-aviles on DSK5TPTVN1PROD with NOTICES