Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the ProShares Trust II, 57399-57401 [E8-23192]

Download as PDF Federal Register / Vol. 73, No. 192 / Thursday, October 2, 2008 / Notices 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–NYSE–2008–82 on the subject line. Paper Comments SECURITIES AND EXCHANGE COMMISSION [Release No. 34–58647; File No. SR– NYSEArca–2008–99] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the ProShares Trust II • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. September 25, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Florence E. Harmon, Acting Secretary. [FR Doc. E8–23193 Filed 10–1–08; 8:45 am] Change In its filing with the Commission, the self-regulatory organization 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 mstockstill on PROD1PC66 with NOTICES Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on September 18, 2008, NYSE Arca, Inc. All submissions should refer to File (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed Number SR-NYSE–2008–82. This file with the Securities and Exchange number should be included on the Commission (‘‘Commission’’) the subject line if e-mail is used. To help the proposed rule change described in Items Commission process and review your I and II below, which Items have been comments more efficiently, please use prepared by the Exchange. The only one method. The Commission will Commission is publishing this notice to post all comments on the Commission’s solicit comments on the proposed rule Internet Web site (http://www.sec.gov/ change from interested persons. rules/sro.shtml ). Copies of the I. Self-Regulatory Organization’s submission, all subsequent Statement of the Terms of Substance of amendments, all written statements the Proposed Rule Change with respect to the proposed rule Pursuant to the provisions of Section change that are filed with the 19(b)(1) of the Exchange Act,3 NYSE Commission, and all written Arca, through its wholly-owned communications relating to the subsidiary NYSE Arca Equities, Inc. proposed rule change between the Commission and any person, other than (‘‘NYSE Arca Equities’’), is submitting this proposed rule change in connection those that may be withheld from the with the listing and trading on the public in accordance with the Exchange of shares (‘‘Shares’’) of provisions of 5 U.S.C. 552, will be fourteen (14) funds (‘‘Funds’’) of available for inspection and copying in ProShares Trust II (formerly known as the Commission’s Public Reference Commodities & Currency Trust) Room, 100 F Street, NE., Washington, (‘‘Trust’’) based on several currencies, DC 20549, on official business days commodities and commodities indexes, between the hours of 10 a.m. and 3 p.m. relating to the names of the Trust and Copies of the filing also will be available the Funds, the Funds’ Web site for inspection and copying at the disclosure relating to the availability of principal office of the self-regulatory information regarding the Shares, and organization. All comments received the expected price of the Shares at will be posted without change; the commencement of trading. The text of Commission does not edit personal the proposed rule change is available on identifying information from the Exchange’s Web site at submissions. You should submit only www.nyse.com, at the Exchange’s information that you wish to make principal office and at the Commission’s available publicly. All submissions Public Reference Room. should refer to File Number SR–NYSE– II. Self-Regulatory Organization’s 2008–82 and should be submitted on or Statement of the Purpose of, and before October 23, 2008. Statutory Basis for, the Proposed Rule BILLING CODE 8011–01–P 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(1). 2 17 12 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 17:52 Oct 01, 2008 Jkt 217001 PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 57399 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 parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Commission has approved the listing of the Shares on the Exchange pursuant to Section 19(b)(2) 4 of the Exchange Act. The Exchange intends to list and trade the Shares pursuant to NYSE Arca Equities Rule 8.200, Commentary .02, which permits the trading of Trust Issued Receipts (‘‘TIRs’’) either by listing or pursuant to unlisted trading privileges (‘‘UTP’’).5 The Commission previously approved the Shares for listing on the American Stock Exchange LLC (‘‘Amex’’) 6 and for trading on the Exchange pursuant to UTP.7 The Exchange is filing this proposal to reflect changes to the names of the Trust and the Funds, to clarify the Funds’ Web site disclosure relating to the availability of information regarding the Shares, and to correct a representation in the NYSE Arca Order regarding the expected price of the Shares at commencement of trading. Additional information regarding the Funds and the Trust is included in the NYSE Arca Order and the Amex Order. In the NYSE Arca Order, the Commission approved listing on the Exchange of the following Funds of the Trust (formerly known as Commodities & Currency Trust): (1) Ultra DJ–AIG Commodity ProShares, (2) UltraShort DJ–AIG Commodity ProShares, (3) Ultra DJ–AIG Agriculture ProShares, (4) UltraShort DJ–AIG Agriculture ProShares, (5) Ultra DJ–AIG Crude Oil ProShares, (6) UltraShort DJAIG Crude Oil ProShares, (7) Ultra Gold ProShares, (8) UltraShort Gold ProShares, (9) Ultra Silver ProShares, (10) UltraShort Silver ProShares, (11) Ultra Euro ProShares, (12) UltraShort Euro ProShares, (13) Ultra Yen ProShares and (14) UltraShort Yen ProShares. The Trust has advised 4 15 U.S.C. 78(s)(b)(2). Securities Exchange Act Release No. 58457 (September 3, 2008), 73 FR 52711 (September 10, 2008) (SR–NYSEArca–2008–91) (‘‘NYSE Arca Order’’). 6 See Securities Exchange Act Release No. 58161 (July 15, 2008), 73 42380 (July 21, 2008) (SR– Amex–2008–39). Notice of the Amex proposed rule change was published in Securities Exchange Act Release No. 57932 (June 5, 2008), 73 FR 33467 (June 12, 2008) (‘‘Amex Order’’) 7 See Securities Exchange Act Release No. 58162 (July 15, 2008), 73 FR 42391 (July 21, 2008) (SR– NYSEArca–2008–73). 5 See E:\FR\FM\02OCN1.SGM 02OCN1 57400 Federal Register / Vol. 73, No. 192 / Thursday, October 2, 2008 / Notices the Exchange that the Trust intends to rebrand the Funds as follows: (1) ProShares Ultra DJ–AIG Commodity, (2) ProShares UltraShort DJ–AIG Commodity, (3) ProShares Ultra DJ–AIG Agriculture, (4) ProShares UltraShort DJ–AIG Agriculture, (5) ProShares Ultra DJ–AIG Crude Oil, (6) ProShares UltraShort DJAIG Crude Oil, (7) ProShares Ultra Gold, (8) ProShares UltraShort Gold, (9) ProShares Ultra Silver, (10) ProShares UltraShort Silver, (11) ProShares Ultra Euro, (12) ProShares UltraShort Euro, (13) ProShares Ultra Yen and (14) ProShares UltraShort Yen. Availability of Information Regarding the Shares To clarify the representations made in the NYSE Arca Order regarding availability of information, the Web sites for the Funds and/or the Exchange, which are publicly accessible at no charge, will contain the following information: (a) The most current NAV per Share; (b) the reported closing price; (c) calculation of the premium or discount of such price against the NAV per Share; (d) data in chart form displaying the frequency distribution of discounts and premiums of the reported closing price against the NAV per Share, within appropriate ranges for each of the four (4) previous calendar quarters; (e) the prospectus; and (f) other applicable quantitative information. All other information relating to availability of information regarding the Shares remains as stated in the NYSE Arca Order. mstockstill on PROD1PC66 with NOTICES Criteria for Initial and Continued Listing. To correct a representation made in the NYSE Arca Order regarding the criteria for initial and continued listing, the price of the Shares is expected to be in a range from $20 to $70 per Share at the commencement of trading on the Exchange. The Shares will not be subject to an initial offering period as described in the Amex Order and the NYSE Arca Order and the expected price range does not relate to any such offering period. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) 8 of the Exchange Act in general and furthers the objectives of Section 6(b)(5) 9 in particular in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster 8 15 9 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). VerDate Aug<31>2005 17:52 Oct 01, 2008 Jkt 217001 cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transaction in securities, and, in general to protect investors and the public interest. The proposal provides clarifying information regarding the operation of the Funds. The Exchange believes that the proposal will facilitate the listing and trading of additional types of commodity and currency-based investments that will enhance competition among market participants, to the benefit of investors and the marketplace. 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 purpose of the Exchange Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has designated the proposed rule change as one that: (i) Does not significantly affect the protection of investors or the public interest; (ii) does not impose any significant burden on competition; and (iii) by its terms, does not 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. Therefore, the foregoing proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Exchange Act 10 and Rule 19b–4(f)(6) thereunder.11 A proposed rule change filed under Rule 19b–4(f)(6) normally does not become operative until 30 days after the date of filing.12 However, Rule 19b– 4(f)(6)(iii) 13 permits the Commission to designate a shorter time if such action is consistent with the protection of 10 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 12 Id. In addition, Rule 19b–4(f)(6)(iii) requires a s self-regulatory organization to give the Commission written notice of its intent to file 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 satisfied this requirement. 13 17 CFR 240.19b–4(f)(6). 11 17 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 investors and the public interest. In view of the immediate nature of the relief requested, the Exchange seeks to have the proposed amendments become operative immediately. The Exchange requests that the Commission waive the 30-day delayed operative date, so that the proposed rule change may become immediately operative pursuant to Section 19(b)(3)(A) and Rule 19b–4(f)(6) thereunder. The Exchange believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest because the proposed rule change should benefit investors by clarifying information regarding the names and operation of the Funds. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. The Commission therefore grants the Exchange’s request and designates the proposal to be operative upon filing.14 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 Exchange 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 Exchange 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–2008–99 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEArca–2008–99. 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 14 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). E:\FR\FM\02OCN1.SGM 02OCN1 57401 Federal Register / Vol. 73, No. 192 / Thursday, October 2, 2008 / Notices 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, 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 self-regulatory organization. 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–2008–99 and should be submitted on or before October 23, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Florence E. Harmon, Acting Secretary. [FR Doc. E8–23192 Filed 10–1–08; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION Agency Information Collection Activities: Comment Request The Social Security Administration (SSA) publishes a list of information collection packages requiring clearance by the Office of Management and Type of respondent Information collection requirement Title II Payment Recipients. Direct Deposit Enrollment Form. Data screening/ matching activities; SSA’s data management requirements. mstockstill on PROD1PC66 with NOTICES Financial Institutions (banks). 15 17 Budget (OMB) in compliance with Public Law (Pub. L.) 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. This notice includes extensions (no change) of existing OMB-approved information collections. 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 the 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 the SSA Reports Clearance Officer to the addresses or fax numbers listed below. (OMB), Office of Management and Budget, Attn: Desk Officer for SSA, Fax: 202–395–6974, E-mail address: OIRA_Submission@omb.eop.gov. (SSA), Social Security Administration, DCBFM, Attn: Reports Clearance Officer, 1333 Annex Building, 6401 Security Blvd., Baltimore, MD 21235, Fax: 410–965–6400, E-mail address: OPLM.RCO@ssa.gov. SSA has submitted the information collections listed below. Your comments on the information collections will be most useful if OMB and SSA receive them within 30 days from the date of this publication. You can request a copy of the information collections by e-mail, OPLM.RCO@ssa.gov, fax 410–965–6400, or by calling the SSA Reports Clearance Officer at 410–965–0454. 1. Help America Vote Act—0960– 0706. H.R. 3295, the Help America Vote Act of 2002, mandates that States verify the identities of newly registered voters. When newly registered voters do not have drivers’ licenses or State-issued ID cards, they must supply the last four digits of their Social Security Numbers to their local State election agencies for Average burden response (minutes) Estimated annual burden (hours) Number of respondents Frequency of response 100,000 1 2 3,333 10 1 240 40 verification. The election agencies forward this information to their State Motor Vehicle Administration (MVA) that inputs the data into the American Association of MVAs, a central consolidation system that routes the voter data to SSA’s Help America Vote Verification (HAVV) system. Once SSA’s HAVV system has confirmed the identity of the voter, the information will be returned along the same route (in reverse) until it reaches the State election agency. The official respondents for this collection are the State MVAs. Type of Request: Extension of an OMB-approved information collection. Number of Respondents: 2,352,204. Frequency of Response: 1. Average Burden per Response: 2 minutes. Estimated Annual Burden: 78,407 hours. 2. National Direct Deposit Initiative— 31 CFR 210—0960–0711. Many SSA benefits recipients choose to receive their payments via the Direct Deposit Program, in which SSA transfers funds directly to recipients’ accounts at a financial institution (FI). However, many Title II payment recipients still receive their payments through traditional paper checks. In an effort to encourage these beneficiaries to change from paper checks to the Direct Deposit Program, SSA is collaborating with the Department of the Treasury and several FIs on a National Direct Deposit Initiative. In this program, SSA will work with FIs to determine which of the target Title II beneficiaries have accounts at the participating banks. The banks will then send forms to these beneficiaries encouraging them to enroll in the Direct Deposit Program. The respondents are the participating FIs and Title II beneficiaries currently receiving their payments via check. Type of Request: Extension of an OMB-approved information collection. Estimated cost burden per respondent Total annual cost burden N/A .................... N/A N/A Printing/mailing of 100,000 enrollment forms. $1,039 $10,390 Cost requirement CFR 200.30–3(a)(12). VerDate Aug<31>2005 17:52 Oct 01, 2008 Jkt 217001 PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 E:\FR\FM\02OCN1.SGM 02OCN1

Agencies

[Federal Register Volume 73, Number 192 (Thursday, October 2, 2008)]
[Notices]
[Pages 57399-57401]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-23192]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58647; File No. SR-NYSEArca-2008-99]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Relating to the 
ProShares Trust II

September 25, 2008.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby 
given that on September 18, 2008, NYSE Arca, Inc. (``NYSE Arca'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change described in Items I and II 
below, which Items have been prepared by the Exchange. The Commission 
is publishing this notice to solicit comments on the proposed rule 
change from interested persons.
---------------------------------------------------------------------------

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

    Pursuant to the provisions of Section 19(b)(1) of the Exchange 
Act,\3\ NYSE Arca, through its wholly-owned subsidiary NYSE Arca 
Equities, Inc. (``NYSE Arca Equities''), is submitting this proposed 
rule change in connection with the listing and trading on the Exchange 
of shares (``Shares'') of fourteen (14) funds (``Funds'') of ProShares 
Trust II (formerly known as Commodities & Currency Trust) (``Trust'') 
based on several currencies, commodities and commodities indexes, 
relating to the names of the Trust and the Funds, the Funds' Web site 
disclosure relating to the availability of information regarding the 
Shares, and the expected price of the Shares at commencement of 
trading. The text of the proposed rule change is available on the 
Exchange's Web site at www.nyse.com, at the Exchange's principal office 
and at the Commission's Public Reference Room.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------

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 self-regulatory organization 
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 parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Commission has approved the listing of the Shares on the 
Exchange pursuant to Section 19(b)(2) \4\ of the Exchange Act. The 
Exchange intends to list and trade the Shares pursuant to NYSE Arca 
Equities Rule 8.200, Commentary .02, which permits the trading of Trust 
Issued Receipts (``TIRs'') either by listing or pursuant to unlisted 
trading privileges (``UTP'').\5\ The Commission previously approved the 
Shares for listing on the American Stock Exchange LLC (``Amex'') \6\ 
and for trading on the Exchange pursuant to UTP.\7\ The Exchange is 
filing this proposal to reflect changes to the names of the Trust and 
the Funds, to clarify the Funds' Web site disclosure relating to the 
availability of information regarding the Shares, and to correct a 
representation in the NYSE Arca Order regarding the expected price of 
the Shares at commencement of trading. Additional information regarding 
the Funds and the Trust is included in the NYSE Arca Order and the Amex 
Order.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78(s)(b)(2).
    \5\ See Securities Exchange Act Release No. 58457 (September 3, 
2008), 73 FR 52711 (September 10, 2008) (SR-NYSEArca-2008-91) 
(``NYSE Arca Order'').
    \6\ See Securities Exchange Act Release No. 58161 (July 15, 
2008), 73 42380 (July 21, 2008) (SR-Amex-2008-39). Notice of the 
Amex proposed rule change was published in Securities Exchange Act 
Release No. 57932 (June 5, 2008), 73 FR 33467 (June 12, 2008) 
(``Amex Order'')
    \7\ See Securities Exchange Act Release No. 58162 (July 15, 
2008), 73 FR 42391 (July 21, 2008) (SR-NYSEArca-2008-73).
---------------------------------------------------------------------------

    In the NYSE Arca Order, the Commission approved listing on the 
Exchange of the following Funds of the Trust (formerly known as 
Commodities & Currency Trust): (1) Ultra DJ-AIG Commodity ProShares, 
(2) UltraShort DJ-AIG Commodity ProShares, (3) Ultra DJ-AIG Agriculture 
ProShares, (4) UltraShort DJ-AIG Agriculture ProShares, (5) Ultra DJ-
AIG Crude Oil ProShares, (6) UltraShort DJAIG Crude Oil ProShares, (7) 
Ultra Gold ProShares, (8) UltraShort Gold ProShares, (9) Ultra Silver 
ProShares, (10) UltraShort Silver ProShares, (11) Ultra Euro ProShares, 
(12) UltraShort Euro ProShares, (13) Ultra Yen ProShares and (14) 
UltraShort Yen ProShares. The Trust has advised

[[Page 57400]]

the Exchange that the Trust intends to rebrand the Funds as follows: 
(1) ProShares Ultra DJ-AIG Commodity, (2) ProShares UltraShort DJ-AIG 
Commodity, (3) ProShares Ultra DJ-AIG Agriculture, (4) ProShares 
UltraShort DJ-AIG Agriculture, (5) ProShares Ultra DJ-AIG Crude Oil, 
(6) ProShares UltraShort DJAIG Crude Oil, (7) ProShares Ultra Gold, (8) 
ProShares UltraShort Gold, (9) ProShares Ultra Silver, (10) ProShares 
UltraShort Silver, (11) ProShares Ultra Euro, (12) ProShares UltraShort 
Euro, (13) ProShares Ultra Yen and (14) ProShares UltraShort Yen.
Availability of Information Regarding the Shares
    To clarify the representations made in the NYSE Arca Order 
regarding availability of information, the Web sites for the Funds and/
or the Exchange, which are publicly accessible at no charge, will 
contain the following information: (a) The most current NAV per Share; 
(b) the reported closing price; (c) calculation of the premium or 
discount of such price against the NAV per Share; (d) data in chart 
form displaying the frequency distribution of discounts and premiums of 
the reported closing price against the NAV per Share, within 
appropriate ranges for each of the four (4) previous calendar quarters; 
(e) the prospectus; and (f) other applicable quantitative information.
    All other information relating to availability of information 
regarding the Shares remains as stated in the NYSE Arca Order.
Criteria for Initial and Continued Listing.
    To correct a representation made in the NYSE Arca Order regarding 
the criteria for initial and continued listing, the price of the Shares 
is expected to be in a range from $20 to $70 per Share at the 
commencement of trading on the Exchange. The Shares will not be subject 
to an initial offering period as described in the Amex Order and the 
NYSE Arca Order and the expected price range does not relate to any 
such offering period.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) \8\ of the 
Exchange Act in general and furthers the objectives of Section 6(b)(5) 
\9\ in particular in that it 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 transaction in 
securities, and, in general to protect investors and the public 
interest. The proposal provides clarifying information regarding the 
operation of the Funds. The Exchange believes that the proposal will 
facilitate the listing and trading of additional types of commodity and 
currency-based investments that will enhance competition among market 
participants, to the benefit of investors and the marketplace.
---------------------------------------------------------------------------

    \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 purpose of the Exchange Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The Exchange has designated the proposed rule change as one that: 
(i) Does not significantly affect the protection of investors or the 
public interest; (ii) does not impose any significant burden on 
competition; and (iii) by its terms, does not 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. Therefore, the foregoing proposed rule change 
has become effective pursuant to Section 19(b)(3)(A) of the Exchange 
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).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally does 
not become operative until 30 days after the date of filing.\12\ 
However, Rule 19b-4(f)(6)(iii) \13\ permits the Commission to designate 
a shorter time if such action is consistent with the protection of 
investors and the public interest. In view of the immediate nature of 
the relief requested, the Exchange seeks to have the proposed 
amendments become operative immediately. The Exchange requests that the 
Commission waive the 30-day delayed operative date, so that the 
proposed rule change may become immediately operative pursuant to 
Section 19(b)(3)(A) and Rule 19b-4(f)(6) thereunder. The Exchange 
believes that waiver of the 30-day operative delay is consistent with 
the protection of investors and the public interest because the 
proposed rule change should benefit investors by clarifying information 
regarding the names and operation of the Funds. The Commission believes 
that waiving the 30-day operative delay is consistent with the 
protection of investors and the public interest. The Commission 
therefore grants the Exchange's request and designates the proposal to 
be operative upon filing.\14\
---------------------------------------------------------------------------

    \12\ Id. In addition, Rule 19b-4(f)(6)(iii) requires a s self-
regulatory organization to give the Commission written notice of its 
intent to file 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 
satisfied this requirement.
    \13\ 17 CFR 240.19b-4(f)(6).
    \14\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed 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 Exchange 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 Exchange 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 rule-comments@sec.gov. Please include 
File Number SR-NYSEArca-2008-99 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEArca-2008-99. 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

[[Page 57401]]

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, 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 self-regulatory organization. 
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-2008-
99 and should be submitted on or before October 23, 2008.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-23192 Filed 10-1-08; 8:45 am]
BILLING CODE 8011-01-P