The 2012 NHL free agent market is open for business. I’ll be posting notable updates on notable signings around the league in addition to the moves the Capitals make as they happen (items will be posted in reverse-chronological order). Join in the conversation below.

Update: 5:08 p.m.: Five hours into free agency and all appears to be quiet on the Caps front and so today’s live blog has come to a close. There’s no press conference scheduled and a team spokesman said that there’s nothing new to report. Barring any changes, this would mark the second time since 2006 that the Capitals have not made a move on July 1.

Keep in mind that there are plenty of free agents left to sign and potential roster adjustments to be made all around the league, whether some occur this evening or take place over the coming days and weeks remains to be seen but be sure to stay tuned.

Update, 4:17 p.m.: Goaltender Chris Mason will be the backup in Nashville, where he has agreed to a one-year, $1.25 million deal.

Update, 4:11 p.m.: One of the potential options for the Caps to add a top-six winger is off the market as P.A. Parenteau has sig ned a four-year, $16 million deal with the Avalanche.

Update, 4:01 p.m.: Winnipeg signed winger Alexei Ponikarovski to a one-year, $1.8 million contract, making the Capitals the only team in the Southeast that has not signed a free agent today.

In other division news, Florida agreed to a two-year deal with tough-guy George Parros.

Update, 3:51 p.m.: Defenseman Greg Zanon agrees to a two-year, $4.5 million deal with the Avalanche.

Meanwhile, Chicago has signed defenseman Sheldon Brookbank to a two-year deal.

Update, 3:38 p.m.: Montreal adds some grit to its lineup with forward Brandon Prust, who signed a four-year, $10 million deal.

Update, 3:19 p.m.: Defenseman Francis Bouillon has signed a one-year, $1.5 million contract with Montreal.

Update, 3:04 p.m.: Ottawa has traded RFA winger Nick Foligno to Columbus for defenseman Marc Methot.

Also, Los Angeles has re-signed a member of its Stanley Cup winning squad. Dustin Penner will return to the Kings on a one-year deal worth $3.25 million according to Pierre LeBrun.

Update, 2:46 p.m.: Another Southeast Division signing as defenseman Filip Kuba agrees to a two-year, $8 million contract with Florida.

Update, 2:36 p.m.: Tough-guy Arron Asham inked a two-year, $2 million deal with the New York Rangers.

Update, 2:27 p.m.: Defenseman Matt Carkner, 31, has signed a three-year, $4.5 million contract with the Islanders after an odd start to the day. Earlier, the Colorado Avalanche’s official Twitter account announced they had signed Carkner but his agent refuted the report saying a deal was never than place. Turns out the Avs jumped the gun on that one.

Update, 2:04 p.m.: The New York Islanders signed winger Brad Boyes to a one-year, $1 million deal.

In other news, San Jose signed forward Adam Burish to a four-year deal worth $1.8 million per season.

— Update, 1:56 p.m.: A little earlier this afternoon TSN’s panel of analysts eviscerated UFA Alexander Semin and you can check out their comments on a separate post here.

Update, 1:46 p.m.: In one of the first major signings of the day, 40-year-old left wing Ray Whitney has agreed to a two-year, $9 million deal with the Dallas Stars.

Update, 1:40 p.m.: Winger Colby Armstrong signs a one-year, $1 million contract with Montreal.

Ottawa has agreed to a one-year deal worth $1.2 million with left wing Guillaume Latendresse, pending the result of a physical according to Pierre LeBrun.

Update, 1:27 p.m.: Per TSN’s Darren Dreger, center Zenon Konopka has signed a two-year deal with Minnesota. The Wild have also picked up center Torrey Mitchell (three years, $1.9 million per season).

Update, 1:11 p.m.: More news out of the Southeast Division. Via Chip Alexander of the Raleigh News and Observer, Carolina has signed defenseman Joe Corvo to a one-year, $2 million deal and back-up netminder Justin Peters to a two-year deal.

Update, 1:07 p.m.: Colorado has signed center John Mitchell (two-years, $1.1 million per season).

Update, 12:38 p.m.: As was first reported by Brad May, goaltender Jonas Gustavsson signed a two-year deal worth $3 million with the Red Wings.

Update, 12:31 p.m.: More Southeast news as goaltender Scott Clemmensen has agreed to a two-year deal with the Florida Panthers.

Update, 12:02 p.m.: Southeast Division rival Tampa Bay has signed Benoit Pouliot to a one-year deal worth $1.8 million according to Damian Cristodero of the Tampa Bay Times.

— If you missed them, be sure to check out the free agency primer that ran in today’s hard-copy edition. General Manager George McPhee spent the past week tempering expectations about how active the Capitals would be on July 1 – as he does most every year -- and stressing how inflated prices become at the start of free agency. That said, the Capitals could certainly use a top-six scoring winger and another solid defenseman.

Meanwhile, several members of last year’s roster are expected to be on the move including Alexander Semin, Mike Knuble and Jeff Halpern.

— Already this morning there has been some signing news: Jordan Staal has agreed to a 10-year, $60 million deal with the Carolina Hurricanes.

Edmonton, which inked sought-after defenseman Justin Schultz on Saturday, has signed Ryan Smyth to a two-year deal worth $4.5 million.