Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Accelerated Approval of a Proposed Rule Change Relating to the Listing of MacroShares Major Metro Housing Trusts, 59026-59027 [E8-23838]
Download as PDF
59026
Federal Register / Vol. 73, No. 196 / Wednesday, October 8, 2008 / Notices
of the 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 Number SR–NYSE–
2008–96 and should be submitted on or
before October 29, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–23843 Filed 10–7–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58704; File No. SR–
NYSEArca–2008–92]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Order Granting Accelerated
Approval of a Proposed Rule Change
Relating to the Listing of MacroShares
Major Metro Housing Trusts
October 1, 2008.
On August 25, 2008, 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’’)
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
proposed rule change to list and trade
shares of the MacroShares Major Metro
Housing Up Trust (‘‘Up Trust’’) and the
MacroShares Major Metro Housing
Down Trust (‘‘Down Trust’’)
(collectively, the ‘‘Trusts’’).3 The
proposed rule change was published in
the Federal Register on September 15,
2008 for a 15-day comment period.4 The
Commission received no comments on
the proposal. This order grants approval
to the proposed rule change on an
accelerated basis.
I. Description of the Proposal
jlentini on PROD1PC65 with NOTICES
The Exchange proposes to list and
trade the Shares pursuant to NYSE Arca
Equities Rule 8.400, which governs the
17 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Shares of the Up Trust and the Down Trust are
referred to collectively as ‘‘Shares.’’
4 See Securities Exchange Act Release No. 58469
(September 5, 2008), 73 FR 53306 (‘‘Notice’’).
1 15
VerDate Aug<31>2005
18:10 Oct 07, 2008
Jkt 217001
listing of Paired Trust Shares.5 The
Shares will satisfy the initial and
continued listing criteria applicable to
Paired Trust Shares, which are set forth
in NYSE Arca Equities Rule 8.400(d).6
Description of the Trusts and the Shares
The Up MacroShares and the Down
MacroShares will be offered by the Up
Trust and the Down Trust, respectively,
established by MACRO Inflation
Depositor, LLC, as depositor, under the
laws of the State of New York. The
Trusts are not registered with the
Commission as investment companies.7
Distributions from the Trusts will be
based on the value of the S&P/CaseShiller Composite-10 Home Price Index
(‘‘Index’’), as well as on prevailing
interest rates on U.S. Treasury
obligations. The last published value of
the S&P/Case-Shiller Composite-10
Home Price Index is referred to as the
‘‘Reference Value of the Index’’ or
‘‘Reference Value’’ (as defined in the
Notice). The S&P/Case-Shiller Home
Price Indices measure the change in
home prices in one or several
geographic regions of the United States.
They are calculated monthly and are
publicly available for 20 major
metropolitan areas.8
Additional information regarding the
Shares may be found in the Notice,9
including but not limited to discussions
of the Shares and Trusts, the Reference
Value of the Index, the S&P/Case-Shiller
Home Price Indices and the Index, the
5 The Shares are ‘‘Trading Shares’’ as defined in
NYSE Arca Equities Rule 8.400(b)(1)(B).
6 See e-mail from Michael Cavalier, Associate
General Counsel, NYSE Euronext, to Christopher
Chow, Senior Counsel, Commission, dated
September 26, 2008.
7 The Shares are being offered by the Trusts under
the Securities Act of 1933, as amended, 15 U.S.C.
77a. On August 6, 2008, the depositor filed with the
Commission Registration Statements on Form S–1
(Amendment No. 1) for the Up MacroShares (File
No. 333–151522) (‘‘Up Trust Registration
Statement’’) and for the Down MacroShares (File
No. 333–151523) (‘‘Down Trust Registration
Statement,’’ and, together with the Up Trust
Registration Statement, ‘‘Registration Statements’’).
Descriptions herein relating to the operation of the
Trusts and the S&P/Case-Shiller Home Price Indices
are based on the Registration Statements.
Additionally, unless otherwise stated herein,
defined terms have same meaning set forth in the
Registration Statements.
8 The S&P/Case-Shiller Composite-10 Home Price
Index is a weighted average of the following 10
S&P/Case-Shiller Metro Area Home Price Indices:
The S&P/Case-Shiller Boston Home Price Index, the
S&P/Case-Shiller Chicago Home Price Index, the
S&P/Case-Shiller Denver Home Price Index, the
S&P/Case-Shiller Las Vegas Home Price Index, the
S&P/Case-Shiller Los Angeles Home Price Index,
the S&P/Case-Shiller Miami Home Price Index, the
S&P/Case-Shiller New York City Area Home Price
Index, the S&P/Case-Shiller San Diego Home Price
Index, the S&P/Case-Shiller San Francisco Home
Price Index, and the S&P/Case-Shiller Washington,
D.C. Home Price Index.
9 See supra note 4.
PO 00000
Frm 00103
Fmt 4703
Sfmt 4703
eligibility criteria, the MSA Index
construction, the weighting of sales
pairs, the Index governance, the
Termination Triggers, the calculation of
the Underlying Value, the availability of
information, the initial and continued
listing criteria, trading halts, trading
rules, surveillance, and the Information
Bulletin.
II. Discussion and Commission’s
Findings
The Commission has carefully
reviewed the proposed rule change and
finds that it is consistent with the
requirements of Section 6 of the Act 10
and the rules and regulations
thereunder applicable to a national
securities exchange.11 In particular, the
Commission finds that the proposal is
consistent with Section 6(b)(5) of the
Act,12 which requires, among other
things, that the Exchange’s rules be
designed to promote just and equitable
principles of trade, 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. The Commission notes
that, for the Shares to be listed and
traded on the Exchange, such Shares
must be in compliance with the initial
and continued listing requirements
under NYSE Arca Equities Rule 8.400.
The Commission finds that the
proposal to list and trade the Shares on
the Exchange is consistent with Section
11A(a)(1)(C)(iii) of the Act,13 which sets
forth Congress’ finding that it is in the
public interest and appropriate for the
protection of investors and the
maintenance of fair and orderly markets
to assure the availability to brokers,
dealers, and investors of information
with respect to quotations for and
transactions in securities. Quotation and
last-sale information for the Shares will
be available via the CTA high-speed
line. The Exchange further states that
information regarding market price and
volume of the Shares is and will be
continually available on a real-time
basis throughout the day via electronic
services. The previous day’s closing
price and trading volume information
for the Shares will be published daily in
the financial section of major
newspapers and will be available from
major market data vendors.
The current Index level is available
through major market data vendors (e.g.,
10 15
U.S.C. 78f.
approving this proposed rule change the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
12 15 U.S.C. 78f(b)(5).
13 15 U.S.C. 78k–1(a)(1)(C)(iii).
11 In
E:\FR\FM\08OCN1.SGM
08OCN1
jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 73, No. 196 / Wednesday, October 8, 2008 / Notices
Bloomberg, and Reuters), and historical
data regarding the Index and the Indices
are published at https://
www.indices.standardandpoors.com.
The Commission also believes that the
proposal to list and trade the Shares is
reasonably designed to promote fair
disclosure of information that may be
necessary to price the Shares
appropriately and to prevent trading
when a reasonable degree of
transparency cannot be assured. The
Commission notes that the Exchange
will obtain a representation on behalf of
the Trusts that the per share values of
the Up MacroShares and
DownMacroShares will be calculated
daily and made available to all market
participants at the same time.
Additionally, if it becomes aware that
the per share value of either the Up
MacroShares or DownMacroShares is
not disseminated daily to all market
participants at the same time, the
Exchange will halt trading in the Shares
until that information is available to all
market participants.
Though the Exchange has stated that
the Index Committee has ‘‘complete
discretion’’ to determine how the Index
and its related indices are calculated, an
Exchange’s obligations under Section
19(b) of the Act and Rule 19b-4
thereunder are independent of any
discretion the Index Committee may
have. Thus, the Exchange must monitor
changes to the Shares, including any
change to the calculation of the Index.
The Exchange must assess whether any
changes to the Shares would require it
to submit a proposed rule change in
accordance with Section 19(b)(1) of the
Act 14 and Rule 19b–4 thereunder,15 or
take any other action as appropriate,
including halting trading of the Shares.
The Exchange has represented that
the Shares are equity securities subject
to the Exchange’s rules governing the
trading of equity securities. In support
of this proposal, the Exchange has made
the following representations:
(1) The Shares will conform to the
initial and continued listing criteria
under NYSE Arca Equities Rule 8.400.16
(2) The Exchange’s surveillance
procedures are adequate to properly
monitor Exchange trading of the Shares
in all trading sessions and to deter and
detect violations of Exchange rules and
applicable federal securities laws.
(3) Prior to the commencement of
trading, the Exchange will inform its
ETP Holders in an Information Bulletin
of the special characteristics and risks
associated with trading the Shares,
prospectus delivery requirements, and
other information, as described in more
detail in the Notice.17
This approval order is based on the
Exchange’s representations.
III. Accelerated Approval
The Commission finds good cause,
pursuant to Section 19(b)(2) of the
Act,18 for approving the proposal prior
to the thirteenth day after the date of
publication of the Notice in the Federal
Register. The Commission has received
no comments regarding the proposed
rule change, and the Commission finds
that the proposed rule change does not
raise any novel regulatory issues.
Additionally, the Commission believes
that accelerating approval of this
proposal should benefit the market by
making available to investors, without
undue delay, additional products in the
market for Paired Trust Shares.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,19 that the
proposed rule change (SR–NYSEArca–
2008–92) be, and it hereby is, approved
on an accelerated basis.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–23838 Filed 10–7–08; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public
Comments and Recommendations
Notice and request for
comments.
ACTION:
SUMMARY: In accordance with the
Paperwork Reduction Act of 1995, this
notice announces the Small Business
Administration’s intentions to request
approval on a new and/or currently
approved information collection.
DATES: Submit comments on or before
December 8, 2008.
ADDRESSES: Send all comments
regarding whether this information
collection is necessary for the proper
performance of the function of the
agency, whether the burden estimates
are accurate, and if there are ways to
minimize the estimated burden and
enhance the quality of the collection, to
Carol Fendler, Systems Accountant,
17 See
supra note 4.
U.S.C. 78s(b)(2).
19 15 U.S.C. 78s(b)(2).
20 17 CFR 200.30–3(a)(12).
14 15
U.S.C. 78s(b)(1).
15 17 CFR 240.19b–4.
16 See supra note 6.
VerDate Aug<31>2005
19:10 Oct 07, 2008
18 15
Jkt 217001
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
59027
Office of Investment, Small Business
Administration, 409 3rd Street, SW., 8th
floor, Wash., DC 20416.
FOR FURTHER INFORMATION CONTACT:
Carol Fendler, Systems Accountant,
Office of Investment, 202–205–7559
carol.fendle@sba.gov Curtis B. Rich,
Management Analyst, 202–205–7030
curtis.rich@sba.gov.
These
forms are used by SBA examiners as
part of their examination of licensed
email business investment companies
(SBIC’s). This information collection
obtains representations from an SBIC’s
management regarding certain
obligations, transactions and
relationships of the SBIC and helps SBA
to evaluate the SBIC’s financial
condition and compliance with
applicable laws and regulations.
Title: ‘‘Disclosure StatementLeveraged; Disclosure Statement-Nonleveraged Licensees’’.
Description of Respondents: Small
Businesses Investment Companies.
Form Numbers: 856, 856A.
Annual Responses: 350.
Annual Burden: 162.
ADDRESSES: Send all comments
regarding whether this information
collection is necessary for the proper
performance of the function of the
agency, whether the burden estimates
are accurate, and if there are ways to
minimize the estimated burden and
enhance the quality of the collection, to
George Solomon, Supervisor Business
Development Officer, Office of Business
Initiatives, Small Business
Administration, 409 3rd Street, SW., 6th
floor, Wash., DC 20416
FOR FURTHER INFORMATION CONTACT:
George Solomon, Supervisor Business
Development Officer, Office of Business
Initiatives, 202–205–7436
george.solomon@sba.gov Curtis B. Rich,
Management Analyst, 202–205–7030
curtis.rich@sba.gov.
SUPPLEMENTARY INFORMATION: SBA’s
strategic plan is to examine the impact
of counseling and information services
on nascent, start-up and in-business
clients. This survey measure effects on
counseling and information transfer on
the respondent’s evaluation of the
effectiveness, usefulness, and relevancy
of the services provided and whether
these services/actions led to the creation
of jobs and an increase in business startups and gross revenue.
Title: ‘‘Entrepreneurial Development
Impact Study’’.
Description of Respondents: SBA
Clients.
Form Number: 2214.
Annual Responses: 7,378.
SUPPLEMENTARY INFORMATION:
E:\FR\FM\08OCN1.SGM
08OCN1
Agencies
[Federal Register Volume 73, Number 196 (Wednesday, October 8, 2008)]
[Notices]
[Pages 59026-59027]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-23838]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-58704; File No. SR-NYSEArca-2008-92]
Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting
Accelerated Approval of a Proposed Rule Change Relating to the Listing
of MacroShares Major Metro Housing Trusts
October 1, 2008.
On August 25, 2008, 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'') pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to list and trade shares of the
MacroShares Major Metro Housing Up Trust (``Up Trust'') and the
MacroShares Major Metro Housing Down Trust (``Down Trust'')
(collectively, the ``Trusts'').\3\ The proposed rule change was
published in the Federal Register on September 15, 2008 for a 15-day
comment period.\4\ The Commission received no comments on the proposal.
This order grants approval to the proposed rule change on an
accelerated basis.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Shares of the Up Trust and the Down Trust are referred to
collectively as ``Shares.''
\4\ See Securities Exchange Act Release No. 58469 (September 5,
2008), 73 FR 53306 (``Notice'').
---------------------------------------------------------------------------
I. Description of the Proposal
The Exchange proposes to list and trade the Shares pursuant to NYSE
Arca Equities Rule 8.400, which governs the listing of Paired Trust
Shares.\5\ The Shares will satisfy the initial and continued listing
criteria applicable to Paired Trust Shares, which are set forth in NYSE
Arca Equities Rule 8.400(d).\6\
---------------------------------------------------------------------------
\5\ The Shares are ``Trading Shares'' as defined in NYSE Arca
Equities Rule 8.400(b)(1)(B).
\6\ See e-mail from Michael Cavalier, Associate General Counsel,
NYSE Euronext, to Christopher Chow, Senior Counsel, Commission,
dated September 26, 2008.
---------------------------------------------------------------------------
Description of the Trusts and the Shares
The Up MacroShares and the Down MacroShares will be offered by the
Up Trust and the Down Trust, respectively, established by MACRO
Inflation Depositor, LLC, as depositor, under the laws of the State of
New York. The Trusts are not registered with the Commission as
investment companies.\7\ Distributions from the Trusts will be based on
the value of the S&P/Case-Shiller Composite-10 Home Price Index
(``Index''), as well as on prevailing interest rates on U.S. Treasury
obligations. The last published value of the S&P/Case-Shiller
Composite-10 Home Price Index is referred to as the ``Reference Value
of the Index'' or ``Reference Value'' (as defined in the Notice). The
S&P/Case-Shiller Home Price Indices measure the change in home prices
in one or several geographic regions of the United States. They are
calculated monthly and are publicly available for 20 major metropolitan
areas.\8\
---------------------------------------------------------------------------
\7\ The Shares are being offered by the Trusts under the
Securities Act of 1933, as amended, 15 U.S.C. 77a. On August 6,
2008, the depositor filed with the Commission Registration
Statements on Form S-1 (Amendment No. 1) for the Up MacroShares
(File No. 333-151522) (``Up Trust Registration Statement'') and for
the Down MacroShares (File No. 333-151523) (``Down Trust
Registration Statement,'' and, together with the Up Trust
Registration Statement, ``Registration Statements''). Descriptions
herein relating to the operation of the Trusts and the S&P/Case-
Shiller Home Price Indices are based on the Registration Statements.
Additionally, unless otherwise stated herein, defined terms have
same meaning set forth in the Registration Statements.
\8\ The S&P/Case-Shiller Composite-10 Home Price Index is a
weighted average of the following 10 S&P/Case-Shiller Metro Area
Home Price Indices: The S&P/Case-Shiller Boston Home Price Index,
the S&P/Case-Shiller Chicago Home Price Index, the S&P/Case-Shiller
Denver Home Price Index, the S&P/Case-Shiller Las Vegas Home Price
Index, the S&P/Case-Shiller Los Angeles Home Price Index, the S&P/
Case-Shiller Miami Home Price Index, the S&P/Case-Shiller New York
City Area Home Price Index, the S&P/Case-Shiller San Diego Home
Price Index, the S&P/Case-Shiller San Francisco Home Price Index,
and the S&P/Case-Shiller Washington, D.C. Home Price Index.
---------------------------------------------------------------------------
Additional information regarding the Shares may be found in the
Notice,\9\ including but not limited to discussions of the Shares and
Trusts, the Reference Value of the Index, the S&P/Case-Shiller Home
Price Indices and the Index, the eligibility criteria, the MSA Index
construction, the weighting of sales pairs, the Index governance, the
Termination Triggers, the calculation of the Underlying Value, the
availability of information, the initial and continued listing
criteria, trading halts, trading rules, surveillance, and the
Information Bulletin.
---------------------------------------------------------------------------
\9\ See supra note 4.
---------------------------------------------------------------------------
II. Discussion and Commission's Findings
The Commission has carefully reviewed the proposed rule change and
finds that it is consistent with the requirements of Section 6 of the
Act \10\ and the rules and regulations thereunder applicable to a
national securities exchange.\11\ In particular, the Commission finds
that the proposal is consistent with Section 6(b)(5) of the Act,\12\
which requires, among other things, that the Exchange's rules be
designed to promote just and equitable principles of trade, 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. The Commission notes that, for the Shares to be listed
and traded on the Exchange, such Shares must be in compliance with the
initial and continued listing requirements under NYSE Arca Equities
Rule 8.400.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f.
\11\ In approving this proposed rule change the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
\12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Commission finds that the proposal to list and trade the Shares
on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the
Act,\13\ which sets forth Congress' finding that it is in the public
interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers, and investors of information with respect to
quotations for and transactions in securities. Quotation and last-sale
information for the Shares will be available via the CTA high-speed
line. The Exchange further states that information regarding market
price and volume of the Shares is and will be continually available on
a real-time basis throughout the day via electronic services. The
previous day's closing price and trading volume information for the
Shares will be published daily in the financial section of major
newspapers and will be available from major market data vendors.
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
---------------------------------------------------------------------------
The current Index level is available through major market data
vendors (e.g.,
[[Page 59027]]
Bloomberg, and Reuters), and historical data regarding the Index and
the Indices are published at https://www.indices.standardandpoors.com.
The Commission also believes that the proposal to list and trade
the Shares is reasonably designed to promote fair disclosure of
information that may be necessary to price the Shares appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. The Commission notes that the Exchange will obtain a
representation on behalf of the Trusts that the per share values of the
Up MacroShares and DownMacroShares will be calculated daily and made
available to all market participants at the same time. Additionally, if
it becomes aware that the per share value of either the Up MacroShares
or DownMacroShares is not disseminated daily to all market participants
at the same time, the Exchange will halt trading in the Shares until
that information is available to all market participants.
Though the Exchange has stated that the Index Committee has
``complete discretion'' to determine how the Index and its related
indices are calculated, an Exchange's obligations under Section 19(b)
of the Act and Rule 19b-4 thereunder are independent of any discretion
the Index Committee may have. Thus, the Exchange must monitor changes
to the Shares, including any change to the calculation of the Index.
The Exchange must assess whether any changes to the Shares would
require it to submit a proposed rule change in accordance with Section
19(b)(1) of the Act \14\ and Rule 19b-4 thereunder,\15\ or take any
other action as appropriate, including halting trading of the Shares.
---------------------------------------------------------------------------
\14\ 15 U.S.C. 78s(b)(1).
\15\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
The Exchange has represented that the Shares are equity securities
subject to the Exchange's rules governing the trading of equity
securities. In support of this proposal, the Exchange has made the
following representations:
(1) The Shares will conform to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.400.\16\
---------------------------------------------------------------------------
\16\ See supra note 6.
---------------------------------------------------------------------------
(2) The Exchange's surveillance procedures are adequate to properly
monitor Exchange trading of the Shares in all trading sessions and to
deter and detect violations of Exchange rules and applicable federal
securities laws.
(3) Prior to the commencement of trading, the Exchange will inform
its ETP Holders in an Information Bulletin of the special
characteristics and risks associated with trading the Shares,
prospectus delivery requirements, and other information, as described
in more detail in the Notice.\17\
---------------------------------------------------------------------------
\17\ See supra note 4.
---------------------------------------------------------------------------
This approval order is based on the Exchange's representations.
III. Accelerated Approval
The Commission finds good cause, pursuant to Section 19(b)(2) of
the Act,\18\ for approving the proposal prior to the thirteenth day
after the date of publication of the Notice in the Federal Register.
The Commission has received no comments regarding the proposed rule
change, and the Commission finds that the proposed rule change does not
raise any novel regulatory issues. Additionally, the Commission
believes that accelerating approval of this proposal should benefit the
market by making available to investors, without undue delay,
additional products in the market for Paired Trust Shares.
---------------------------------------------------------------------------
\18\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
IV. Conclusion
It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\19\ that the proposed rule change (SR-NYSEArca-2008-92) be, and it
hereby is, approved on an accelerated basis.
---------------------------------------------------------------------------
\19\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
---------------------------------------------------------------------------
\20\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-23838 Filed 10-7-08; 8:45 am]
BILLING CODE 8011-01-P