Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to NYSE Arca Marketplace Trading Sessions, 8234-8236 [E7-3067]

Download as PDF 8234 Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices cprice-sewell on PROD1PC61 with NOTICES The Listing Fee schedule for ICUs is not being changed as to amount, but would be amended to include application of the $5,000 Listing Fee to specified securities other than ICUs. The revised Annual Fee will be billed quarterly in arrears effective as of January 1, 2007. As such, billing for the first calendar quarter of 2007 will be based on the number of shares outstanding for an issue on March 30, 2007. For example, for an issue with 45 million shares outstanding on March 30, 2007, the Annual Fee payable for the quarter would be $1,000 ($4,000 Annual Fee divided by 4). If, at the end of the second calendar quarter of 2007, the number of shares outstanding for such issue increased to 55 million, the Annual Fee payable for such quarter would be $2,000 ($8,000 Annual Fee divided by 4). The Exchange believes it is appropriate to apply the revised Annual Fees to issuers of the specified securities as of January 1, 2007 to permit the Exchange to apply the fee in the same manner to all such issuers, including those listed on the Exchange in the first quarter of 2007. The Exchange further proposes to amend Section 902.02 of the Manual (General Information on Fees) to specify: (1) That the fees set forth in Section 902 are also applicable to ICUs, streetTRACKS Gold Shares, Currency Trust Shares and Commodity Trust Shares; (2) that Listing Fees are based on the number of shares issued and outstanding, with the exception of ICUs, streetTRACKS Gold Shares, Currency Trust Shares, and Commodity Trust Shares; (3) that Annual Fees are calculated on a per share basis, with the exception of ICUs, streetTRACKS Gold Shares, Currency Trust Shares, and Commodity Trust Shares; and (4) that the $500,000 per year fee cap in Section 902.02 does not apply to ICUs, streetTRACKS Gold Shares, Currency Trust Shares, and Commodity Trust Shares. Section 902.03 of the Manual (Fees for Listed Equity Securities) is proposed to be amended to specify that such section does not apply to streetTRACKS Gold Shares, Currency Trust Shares, and Commodity Trust Shares (in addition to ICUs, closed-end funds, structured products, and shortterm securities.) 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(4) of the Act 7 that an exchange have rules that provide for the equitable allocation of reasonable dues, fees, and other charges among its 7 15 U.S.C. 78f(b)(4). VerDate Aug<31>2005 15:07 Feb 22, 2007 Jkt 211001 members, issuers and other persons using its facilities. 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 Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. post all comments on the Commission’s Internet Web site at 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 inspection and copying in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549. Copies of such 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 No. SR–NYSE–2007–01 and should be submitted on or before March 16, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–3066 Filed 2–22–07; 8:45 am] BILLING CODE 8010–01–P 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 at http://www.sec.gov/ rules/sro.shtml; or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–NYSE–2007–01 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–NYSE–2007–01. 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 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55295; File No. SR– NYSEArca–2007–13] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to NYSE Arca Marketplace Trading Sessions February 14, 2007. 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 February 6, 2007, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’), through its wholly owned subsidiary NYSE Arca Equities, Inc. (‘‘NYSE Arca Equities’’), filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. The Exchange filed the proposal pursuant to Section 19(b)(3)(A) 8 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 E:\FR\FM\23FEN1.SGM 23FEN1 Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices of the Act 3 and Rule 19b–4(f)(6) thereunder,4 which renders the proposed rule change effective upon filing with the Commission. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes, through NYSE Arca Equities, to update the list in NYSE Arca Equities Rule 7.34 of securities eligible to trade in one or more, but not all three, of the Exchange’s trading sessions. The Exchange proposes to add to the list shares of certain Funds (‘‘Shares’’) that are traded on NYSE Arca, L.L.C. (‘‘NYSE Arca Marketplace’’), the equities trading facility of NYSE Arca Equities, pursuant to unlisted trading privileges (‘‘UTP’’). The text of the proposed rule change is available on the Exchange’s Web site (http://www.nysearca.com), at the principal office of the Exchange, and at the Commission’s Public Reference Room. 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. 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 cprice-sewell on PROD1PC61 with NOTICES 1. Purpose NYSE Arca Equities Rule 7.34 currently provides, in part, that the NYSE Arca Marketplace shall have three trading sessions each day: an Opening Session (1 a.m. Pacific Time (‘‘PT’’) to 6:30 a.m. PT), a Core Trading Session (6:30 a.m. PT to 1 p.m. PT) and a Late Trading Session (1 p.m. PT to 5 p.m. PT), and that the Core Trading Session for securities described in NYSE Arca Equities Rules 5.1(b)(13), 5.1(b)(18), 5.2(j)(3), 8.100, 8.200, 8.201, 8.202, 8.203, 8.300, and 8.400 (each, a ‘‘Derivative Securities Product’’) shall conclude at 1:15 pm PT.5 3 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 5 NYSE Arca Equities Rules 5.1(b)(13), 5.2(j)(3), 8.100, 8.200, 8.201, 8.202, 8.203, 8.300, and 8.400 relate to Unit Investment Trusts, Investment Company Units, Portfolio Depositary Receipts, 4 17 VerDate Aug<31>2005 15:07 Feb 22, 2007 Jkt 211001 NYSE Arca Equities Rule 7.34 includes a list of those securities which are eligible to trade in one or more, but not all three, of the Exchange’s trading sessions.6 The Exchange maintains on its Internet Web site (http:// www.nysearca.com) a list that identifies all securities traded on the NYSE Arca Marketplace that do not trade for the duration of each of the three sessions specified in NYSE Arca Equities Rule 7.34. The Exchange proposes to add the following securities to these lists: (1) Ultra Basic Materials ProShares; (2) Ultra Consumer Goods ProShares; (3) Ultra Consumer Services ProShares; (4) Ultra Financials ProShares; (5) Ultra Health Care ProShares; (6) Ultra Industrials ProShares; (7) Ultra Oil & Gas ProShares; (8) Ultra Real Estate ProShares; (9) Ultra Semiconductors ProShares; (10) Ultra Technology ProShares; (11) Ultra Utilities ProShares; (12) UltraShort Basic Materials ProShares; (13) UltraShort Consumer Goods ProShares; (14) UltraShort Consumer Services ProShares; (15) UltraShort Financials ProShares; (16) UltraShort Health Care ProShares; (17) UltraShort Industrials ProShares; (18) UltraShort Oil & Gas ProShares; (19) UltraShort Real Estate ProShares; (20) UltraShort Semiconductors ProShares; (21) UltraShort Technology ProShares; and (22) UltraShort Utilities ProShares (‘‘Funds’’).7 In addition, the Exchange proposes to change the names of the following securities on the lists to reflect their respective new names: (1) StreetTRACKS Dow Jones STOXX 50 Fund is renamed DJ STOXX 50 ETF; (2) streetTRACKS Dow Jones Euro STOXX 50 Fund is renamed DJ EURO 50 ETF; and (3) streetTRACKS Dow Jones Global Titans Fund is renamed SPDR DJ Global Titans ETF. These securities are traded on the NYSE Arca Marketplace pursuant to UTP and are Investment Company Units, described in Exchange Rule 5.2(j)(3). Trust Issued Receipts, Commodity-Based Trust Shares, Currency Trust Shares, Commodity Index Trust Shares, Partnership Units, and Paired Trust Shares, respectively. See Securities Exchange Act Release No. 54997 (December 21, 2006), 71 FR 78501 (December 29, 2006) (SR–NYSEArca–2006– 77) (amending NYSE Arca Equities Rule 7.34). 6 To make the list more transparent and easier to update, the list has been alphabetized and the number system removed. 7 The Commission approved the trading of the Shares of the Funds on the NYSE Arca Marketplace pursuant to UTP in Securities Exchange Act Release No. 55125 (January 18, 2007), 72 FR 3462 (January 25, 2007) (SR–NYSEArca–2006–87). PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 8235 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,8 in general, and furthers the objectives of Section 6(b)(5),9 in particular, in that it is designed to facilitate transactions in securities, to promote just and equitable principles of trade, to enhance competition, and to protect investors and the public interest. 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 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 if consistent with the protection of investors and the public interest, it has become effective pursuant to Section 19(b)(3)(A) of the Act 10 and Rule 19b–4(f)(6) thereunder.11 The Exchange has asked the Commission to waive the 30-day operative delay. The Commission believes that such waiver is consistent with the protection of investors and the public interest because the proposed rule change should provide transparency and more clarity with respect to the trading hours eligibility of certain derivative securities products and should promote consistency in the trading halts of derivative securities. 8 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 10 15 U.S.C. 78s(b)(3)(A). 11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6) requires an exchange to give the Commission 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 days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Commission has determined to waive the fiveday pre-filing notice requirement in this case. 9 15 E:\FR\FM\23FEN1.SGM 23FEN1 8236 Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices The Commission notes that this filing does not change the trading hours of the Derivative Securities Products listed in NYSE Arca Equities Rule 7.34, but codifies trading hour sessions that have been established through other rule changes or through the use of the Exchange’s generic listing standards pursuant to Rule 19b–4(e) under the Act. For these reasons, the Commission designates the proposed rule change as operative immediately.12 At any time within 60 days of the filing of the proposed rule change the Commission may summarily abrogate 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: cprice-sewell on PROD1PC61 with NOTICES Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send e-mail to rulecomments@sec.gov. Please include File Number SR–NYSEArca–2007–13 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEArca–2007–13. 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 12 For purposes only of waiving the operative date of this proposal, the Commission has considered the rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). VerDate Aug<31>2005 15:07 Feb 22, 2007 Jkt 211001 public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room. Copies of such filing will also 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–2007–13 and should be submitted by or before March 16, 2007. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change For the Commission, by the Division of Market Regulation, pursuant to delegated authority.13 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–3067 Filed 2–22–07; 8:45 am] In its filing with the Commission, OCC 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. OCC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.5 BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55307; No. SR–OCC–2006– 22] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Enhance Futures Clearing Services by Providing an Alternative Method for Effecting Gross Position Adjustments and Certain Trade Management Services February 15, 2007. 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 December 19, 2006, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I, II, and III below, which items have been prepared primarily by OCC. OCC filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(4) 4 thereunder, which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the rule change from interested parties. 13 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(iii). 4 17 CFR 240.19b–4(f)(4). 1 15 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 OCC proposes to amend Rule 401 to accommodate an alternative method for effecting gross position adjustments and to enable members to update certain non-critical trade information. The text of the proposed rule change is available at http://www.optionsclearing.com, at the OCC, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose OCC proposes to amend Rule 401 to accommodate an alternative method for effecting gross position adjustments and to enable members to update certain non-critical trade information. Position Adjustments Following the practice in the futures markets, OCC does not require that matched trade information submitted by a market identify each trade as opening or closing.6 If a market elects to submit trade information without opening or closing identifiers, OCC treats all transactions as opening transactions. A clearing member then submits gross position adjustment information at the end of the day to reduce its positions to reflect the actual open interest in its accounts. In order to calculate gross position adjustment information for each position in a series of futures contracts, a clearing member must: determine its net ending position in that series; calculate its gross ending position in that series on OCC’s books;7 5 The Commission has modified the text of the summaries prepared by OCC. 6 OCC is aware that some markets may not have systems capable of making such identifications. 7 This step requires the clearing member to assume for each account that all trades defaulted to open, that OCC has received correct information on all trades, and that post-trade instructions affecting E:\FR\FM\23FEN1.SGM 23FEN1

Agencies

[Federal Register Volume 72, Number 36 (Friday, February 23, 2007)]
[Notices]
[Pages 8234-8236]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-3067]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55295; File No. SR-NYSEArca-2007-13]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Relating to NYSE 
Arca Marketplace Trading Sessions

February 14, 2007.
    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 February 6, 2007, NYSE Arca, Inc. (``NYSE Arca'' or ``Exchange''), 
through its wholly owned subsidiary NYSE Arca Equities, Inc. (``NYSE 
Arca Equities''), filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I and 
II below, which Items have been substantially prepared by the Exchange. 
The Exchange filed the proposal pursuant to Section 19(b)(3)(A)

[[Page 8235]]

of the Act \3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders the 
proposed rule change effective upon filing with the Commission.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).3
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes, through NYSE Arca Equities, to update the 
list in NYSE Arca Equities Rule 7.34 of securities eligible to trade in 
one or more, but not all three, of the Exchange's trading sessions. The 
Exchange proposes to add to the list shares of certain Funds 
(``Shares'') that are traded on NYSE Arca, L.L.C. (``NYSE Arca 
Marketplace''), the equities trading facility of NYSE Arca Equities, 
pursuant to unlisted trading privileges (``UTP''). The text of the 
proposed rule change is available on the Exchange's Web site (http://
www.nysearca.com), at the principal office of the Exchange, and at the 
Commission's Public Reference Room.

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. 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
    NYSE Arca Equities Rule 7.34 currently provides, in part, that the 
NYSE Arca Marketplace shall have three trading sessions each day: an 
Opening Session (1 a.m. Pacific Time (``PT'') to 6:30 a.m. PT), a Core 
Trading Session (6:30 a.m. PT to 1 p.m. PT) and a Late Trading Session 
(1 p.m. PT to 5 p.m. PT), and that the Core Trading Session for 
securities described in NYSE Arca Equities Rules 5.1(b)(13), 
5.1(b)(18), 5.2(j)(3), 8.100, 8.200, 8.201, 8.202, 8.203, 8.300, and 
8.400 (each, a ``Derivative Securities Product'') shall conclude at 
1:15 pm PT.\5\
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    \5\ NYSE Arca Equities Rules 5.1(b)(13), 5.2(j)(3), 8.100, 
8.200, 8.201, 8.202, 8.203, 8.300, and 8.400 relate to Unit 
Investment Trusts, Investment Company Units, Portfolio Depositary 
Receipts, Trust Issued Receipts, Commodity-Based Trust Shares, 
Currency Trust Shares, Commodity Index Trust Shares, Partnership 
Units, and Paired Trust Shares, respectively. See Securities 
Exchange Act Release No. 54997 (December 21, 2006), 71 FR 78501 
(December 29, 2006) (SR-NYSEArca-2006-77) (amending NYSE Arca 
Equities Rule 7.34).
---------------------------------------------------------------------------

    NYSE Arca Equities Rule 7.34 includes a list of those securities 
which are eligible to trade in one or more, but not all three, of the 
Exchange's trading sessions.\6\ The Exchange maintains on its Internet 
Web site (http://www.nysearca.com) a list that identifies all 
securities traded on the NYSE Arca Marketplace that do not trade for 
the duration of each of the three sessions specified in NYSE Arca 
Equities Rule 7.34.
---------------------------------------------------------------------------

    \6\ To make the list more transparent and easier to update, the 
list has been alphabetized and the number system removed.
---------------------------------------------------------------------------

    The Exchange proposes to add the following securities to these 
lists: (1) Ultra Basic Materials ProShares; (2) Ultra Consumer Goods 
ProShares; (3) Ultra Consumer Services ProShares; (4) Ultra Financials 
ProShares; (5) Ultra Health Care ProShares; (6) Ultra Industrials 
ProShares; (7) Ultra Oil & Gas ProShares; (8) Ultra Real Estate 
ProShares; (9) Ultra Semiconductors ProShares; (10) Ultra Technology 
ProShares; (11) Ultra Utilities ProShares; (12) UltraShort Basic 
Materials ProShares; (13) UltraShort Consumer Goods ProShares; (14) 
UltraShort Consumer Services ProShares; (15) UltraShort Financials 
ProShares; (16) UltraShort Health Care ProShares; (17) UltraShort 
Industrials ProShares; (18) UltraShort Oil & Gas ProShares; (19) 
UltraShort Real Estate ProShares; (20) UltraShort Semiconductors 
ProShares; (21) UltraShort Technology ProShares; and (22) UltraShort 
Utilities ProShares (``Funds'').\7\
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    \7\ The Commission approved the trading of the Shares of the 
Funds on the NYSE Arca Marketplace pursuant to UTP in Securities 
Exchange Act Release No. 55125 (January 18, 2007), 72 FR 3462 
(January 25, 2007) (SR-NYSEArca-2006-87).
---------------------------------------------------------------------------

    In addition, the Exchange proposes to change the names of the 
following securities on the lists to reflect their respective new 
names: (1) StreetTRACKS Dow Jones STOXX 50 Fund is renamed DJ STOXX 
50[supreg] ETF; (2) streetTRACKS Dow Jones Euro STOXX 50 Fund is 
renamed DJ EURO 50[supreg] ETF; and (3) streetTRACKS Dow Jones Global 
Titans Fund is renamed SPDR[supreg] DJ Global Titans ETF. These 
securities are traded on the NYSE Arca Marketplace pursuant to UTP and 
are Investment Company Units, described in Exchange Rule 5.2(j)(3).
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\8\ in general, and furthers the 
objectives of Section 6(b)(5),\9\ in particular, in that it is designed 
to facilitate transactions in securities, to promote just and equitable 
principles of trade, to enhance competition, and to protect investors 
and the public interest.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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 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 if 
consistent with the protection of investors and the public interest, it 
has become effective pursuant to Section 19(b)(3)(A) of the Act \10\ 
and Rule 19b-4(f)(6) thereunder.\11\
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires an exchange to give the Commission 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 days 
prior to the date of filing of the proposed rule change, or such 
shorter time as designated by the Commission. The Commission has 
determined to waive the five-day pre-filing notice requirement in 
this case.
---------------------------------------------------------------------------

    The Exchange has asked the Commission to waive the 30-day operative 
delay. The Commission believes that such waiver is consistent with the 
protection of investors and the public interest because the proposed 
rule change should provide transparency and more clarity with respect 
to the trading hours eligibility of certain derivative securities 
products and should promote consistency in the trading halts of 
derivative securities.

[[Page 8236]]

The Commission notes that this filing does not change the trading hours 
of the Derivative Securities Products listed in NYSE Arca Equities Rule 
7.34, but codifies trading hour sessions that have been established 
through other rule changes or through the use of the Exchange's generic 
listing standards pursuant to Rule 19b-4(e) under the Act. For these 
reasons, the Commission designates the proposed rule change as 
operative immediately.\12\
---------------------------------------------------------------------------

    \12\ For purposes only of waiving the operative date of this 
proposal, the Commission has considered the rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change the Commission may summarily abrogate 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 e-mail to rule-comments@sec.gov. Please include File 
Number SR-NYSEArca-2007-13 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-NYSEArca-2007-13. 
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 inspection 
and copying in the Commission's Public Reference Room. Copies of such 
filing will also 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-2007-13 and should be submitted by or before 
March 16, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\13\
Florence E. Harmon,
Deputy Secretary.
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    \13\ 17 CFR 200.30-3(a)(12).
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 [FR Doc. E7-3067 Filed 2-22-07; 8:45 am]
BILLING CODE 8010-01-P