Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Listing and Trading of Shares of the iShares® MSCI All Peru Capped Index Fund, 30340-30342 [E9-14972]

Download as PDF 30340 Federal Register / Vol. 74, No. 121 / Thursday, June 25, 2009 / Notices Number SR–NYSE–2009–45 and should be submitted on or before July 16, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.23 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–14956 Filed 6–24–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60137; File No. SR– NYSEArca–2009–54] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Listing and Trading of Shares of the iShares® MSCI All Peru Capped Index Fund June 18, 2009. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on June 17, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as 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. sroberts on PROD1PC70 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to list and trade shares (‘‘Shares’’) of the following fund of the iShares® Trust (‘‘Trust’’): iShares® MSCI All Peru Capped Index Fund (‘‘Fund’’). The text of the proposed rule change is available on the Exchange’s Web site at https:// www.nyse.com, at the Exchange’s principal office and at the Public Reference Room of the Commission. 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 those statements may be examined at 23 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 1 15 VerDate Nov<24>2008 16:25 Jun 24, 2009 Jkt 217001 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 Exchange proposes to list and trade the Shares of the following fund under NYSE Arca Equities Rule 5.2(j)(3), the Exchange’s listing standards for Investment Company Units (‘‘ICUs’’):4 iShares® MSCI All Peru Capped Index Fund.5 According to the Registration Statement, the Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Peru Capped Index (the ‘‘Index’’). The Index is sponsored by MSCI, Inc., the Index Provider, that is independent of the Fund and Barclays Global Fund Advisors, the investment adviser to the Fund. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. The Index is a free float-adjusted market capitalization index with approximately 25 components. Any single security with a free float-adjusted market capitalization weight greater than 22.5% will have its weight capped in the Index at 22.5%. All single securities with a weight greater than 4.5% will have their weights capped such that, in the aggregate, these securities do not have a weight greater than 45% of the Index. The Index is designed to measure the performance of the ‘‘Broad Peru Equity Universe.’’ MSCI defines the Broad Peru Equity Universe by identifying Peruvian equity securities that are classified in Peru according to the MSCI Global Investable Market Indices Methodology (a methodology employed by MSCI to construct its Global Investable Market Indices, which classifies eligible securities according to their country of listing) as well as securities of 4 An Investment Company Unit is a security that represents an interest in a registered investment company that holds securities comprising, or otherwise based on or representing an interest in, an index or portfolio of securities (or holds securities in another registered investment company that holds securities comprising, or otherwise based on or representing an interest in, an index or portfolio of securities). See NYSE Arca Equities Rule 5.2(j)(3)(A). 5 See the Trust’s Registration Statement for the Fund on Form N–1A, dated June 17, 2009 (File Nos. 333–92935 and 811–09729). PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 companies that are headquartered in Peru and have the majority of their operations based in Peru. As of May 31, 2009, the Index’s three largest constituents were Compania de Minas Buenaventura S.A., Southern Copper Corporation, and Credicorp Ltd. The Exchange is submitting this proposed rule change because the Index for the Fund does not meet all of the ‘‘generic’’ listing requirements of Commentary .01(a)(B) to NYSE Arca Equities Rule 5.2(j)(3) applicable to listing of ICUs based on international or global indexes. The Index meets all such requirements except for those set forth in Commentary .01(a)(B)(2).6 The Exchange represents that: (1) Except for the requirement under Commentary .01(a)(B)(2) to NYSE Arca Equities Rule 5.2(j)(3) that component stocks that in the aggregate account for at least 90% of the weight of the index each shall have a minimum monthly trading volume during each of the last six months of at least 250,000 shares, the Shares of the Fund currently satisfy all of the generic listing standards under NYSE Arca Equities Rule 5.2(j)(3); (2) the continued listing standards under NYSE Arca Equities Rules 5.2(j)(3) and 5.5(g)(2) applicable to ICUs shall apply to the Shares; and (3) the Trust is required to comply with Rule 10A–3 7 under the Securities Exchange Act of 1934 (‘‘Act’’) 8 for the initial and continued listing of the Shares. In addition, the Exchange represents that the Shares will comply with all other requirements applicable to ICUs including, but not limited to, requirements relating to the dissemination of key information such as the Index value and Intraday Indicative Value, rules governing the trading of equity securities, trading hours, trading halts, surveillance,9 and Information Bulletin to ETP Holders, as set forth in Exchange rules applicable to ICUs and in prior Commission orders 6 The Exchange states that the Index fails to meet the requirement of Commentary .01(a)(B)(2) to NYSE Arca Equities Rule 5.2(j)(3) that component stocks that in the aggregate account for at least 90% of the weight of the index each shall have a minimum monthly trading volume of at least 250,000 shares. The Exchange states that, as of May 31, 2009, component stocks that in the aggregate account for 86.23% of the Index weight had a minimum monthly trading volume of at least 250,000 shares. 7 17 CFR 240.10A–3. 8 15 U.S.C. 78a. 9 The Exchange may obtain information for surveillance purposes via the Intermarket Surveillance Group (‘‘ISG’’) from other exchanges who are members of ISG. The Exchange notes that the Index component stocks do not trade on markets that are ISG members and the Exchange does not have a comprehensive surveillance agreement with such markets. For a list of the current members of ISG, see https:// www.isgportal.org. E:\FR\FM\25JNN1.SGM 25JNN1 Federal Register / Vol. 74, No. 121 / Thursday, June 25, 2009 / Notices approving the generic listing rules applicable to the listing and trading of ICUs.10 Detailed descriptions of the Fund, the Index, the Index Provider, procedures for creating and redeeming Shares, transaction fees and expenses, risks, dividends, distributions, taxes, and reports to be distributed to beneficial owners of the Shares can be found in the Trust’s Registration Statement or on the Web site for the Fund (https:// www.ishares.com), as applicable. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) 11 of the Act, in general, and furthers the objectives of Section 6(b)(5),12 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 facilitating transactions in securities, and to remove impediments to and perfect the mechanisms of a free and open market and a national market system. The proposed rule change will allow the listing and trading of the Fund on the Exchange, which the Exchange believes 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 purposes of the 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. sroberts on PROD1PC70 with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change: (1) Does not significantly affect 10 See, e.g., Securities Exchange Act Release No. 55621 (April 12, 2007), 72 FR 19571 (April 18, 2007) (SR–NYSEArca–2006–86) (order approving generic listing standards for ICUs based on international or global indexes); Securities Exchange Act Release No. 44551 (July 12, 2001), 66 FR 37716 (July 19, 2001) (SR–PCX–2001–14) (order approving generic listing standards for ICUs and Portfolio Depositary Receipts); Securities Exchange Act Release No. 41983 (October 6, 1999), 64 FR 56008 (October 15, 1999) (SR–PCX–98–29) (order approving rules for listing and trading of ICUs). 11 15 U.S.C. 78f(b). 12 15 U.S.C. 78f(b)(5). VerDate Nov<24>2008 16:25 Jun 24, 2009 Jkt 217001 the protection of investors or the public interest; (2) does not impose any significant burden on competition; and (3) by its terms does not become operative for 30 days after the date of this filing, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) 13 of the Act and subparagraph (f)(6) of Rule 19b–4 14 thereunder. A proposed rule change filed under Rule 19b–4(f)(6) 15 normally does not become operative for 30 days after the date of filing. However, Rule 19b– 4(f)(6)(iii),16 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange requests that the Commission waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange states that the proposed rule change does not significantly affect the protection of investors or the public interest and does not impose any significant burden on competition. The Commission believes waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Recently, NYSE Arca proposed to list another series of ICUs based on an index that is very similar to the Index.17 The Commission believes that the listing and trading of the Shares do not present any novel or significant issues or impose any significant burden on competition, and that waiving the 30-day operative delay will benefit the market and investors by providing market participants with additional investing choices. For the reasons described above, the Commission designates the proposal to be effective and operative upon filing with the Commission.18 At any time within 60 days of the filing of the proposed rule change, the 13 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires a self-regulatory organization to provide the Commission with 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 business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange satisfied this requirement. 15 17 CFR 240.19b–4(f)(6). 16 17 CFR 240.19b–4(f)(6)(iii). 17 Compare the Index with the MSCI All Peru Index, which is described in Securities Exchange Act Release No. 59471 (February 27, 2009), 74 FR 9862 (March 6, 2009). 18 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. 15 U.S.C. 78(c)(f). 14 17 PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 30341 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 (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSEArca–2009–54 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEArca–2009–54. 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 (https://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 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–2009–54 and E:\FR\FM\25JNN1.SGM 25JNN1 30342 Federal Register / Vol. 74, No. 121 / Thursday, June 25, 2009 / Notices should be submitted on or before July 16, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 19 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–14972 Filed 6–24–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60139; File No. SR– NYSEAmex–2009–18] Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Amex LLC Amending NYSE Amex Equities Rule 124 To Clarify the Pricing Methodology for the Odd-Lot Portion of a Part of a Round-Lot Order; Clarify the Systems Capable of Accepting PRL Orders; and Clarify the Systems Capable of Accepting a Good ‘Til Cancelled Order During the Implementation of Exchange System Enhancements June 18, 2009. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on June 8, 2009, NYSE Amex LLC (the ‘‘Exchange’’ or ‘‘NYSE Amex’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. NYSE Amex filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 4 and Rule 19b–4(f)(6) thereunder,5 which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. sroberts on PROD1PC70 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to: (i) Amend NYSE Amex Equities Rule 124 (Odd-Lot Orders) to clarify the pricing methodology for the odd-lot portion of a part of a round-lot (‘‘PRL’’) order; (ii) clarify the systems capable of accepting PRL orders; and (iii) clarify the systems capable of accepting a Good ‘Til 19 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 4 15 U.S.C. 78s(b)(3)(A). 5 17 CFR 240.19b–4(f)(6). 1 15 VerDate Nov<24>2008 16:25 Jun 24, 2009 Cancelled Order (‘‘GTC’’) during the implementation of Exchange system enhancements. The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and https://www.nyse.com. 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 those 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 NYSE Amex LLC (‘‘NYSE Amex’’ or ‘‘the Exchange’’), formerly the American Stock Exchange LLC, proposes to: (i) Amend NYSE Amex Equities Rule 124 (Odd-Lot Orders) to clarify the pricing methodology for the odd-lot portion of a part of a round-lot (‘‘PRL’’) order; (ii) clarify the systems capable of accepting PRL orders; and (iii) clarify the systems capable of accepting a Good ‘Til Cancelled Order (‘‘GTC’’) during the implementation of Exchange system enhancements. The text of the proposed rule change is attached hereto as Exhibit 5. The Exchange notes that parallel changes are proposed to be made to the rules of the New York Stock Exchange LLC (‘‘NYSE’’).6 I. Background As described more fully in a related rule filing,7 NYSE Euronext acquired The Amex Membership Corporation (‘‘AMC’’) pursuant to an Agreement and Plan of Merger, dated January 17, 2008 (the ‘‘Merger’’). In connection with the Merger, the Exchange’s predecessor, the American Stock Exchange LLC (‘‘Amex’’), a subsidiary of AMC, became a subsidiary of NYSE Euronext now called NYSE Amex LLC, and continues to operate as a national securities exchange registered under Section 6 of 6 See SR–NYSE–2009–45 (filed June 8, 2009). Securities Exchange Act Release No. 58673 (September 29, 2008), 73 FR 57707 (October 3, 2008) (SR–NYSE–2008–60 and SR–Amex 2008–62) (approving the Merger). 7 See Jkt 217001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 the Securities Exchange Act of 1934, as amended (the ‘‘Act’’).8 The effective date of the Merger was October 1, 2008. In connection with the Merger, on December 1, 2008, the Exchange relocated all equities trading conducted on the Exchange legacy trading systems and facilities located at 86 Trinity Place, New York, New York, to trading systems and facilities located at 11 Wall Street, New York, New York (the ‘‘Equities Relocation’’). The Exchange’s equity trading systems and facilities at 11 Wall Street (the ‘‘NYSE Amex Trading Systems’’) are operated by the NYSE on behalf of the Exchange.9 As part of the Equities Relocation, NYSE Amex adopted NYSE Rules 1– 1004, subject to such changes as necessary to apply the Rules to the Exchange, as the NYSE Amex Equities Rules to govern trading on the NYSE Amex Trading Systems.10 The NYSE Amex Equities Rules, which became operative on December 1, 2008, are substantially identical to the current NYSE Rules 1–1004 and the Exchange continues to update the NYSE Amex Equities Rules as necessary to conform with rule changes to corresponding NYSE Rules filed by the NYSE. II. Background of NYSE Amex Equities Rule 124 Currently, odd-lot orders on the Exchange are processed and executed systemically by an Exchange system designated solely for odd-lot orders (the ‘‘Odd-lot System’’).11 The Odd-lot System executes all odd-lot orders against the Designated Marker Maker (‘‘DMM’’) as the contra party.12 8 15 U.S.C. 78f. Securities Exchange Act Release No. 58705 (October 1, 2008), 73 FR 58995 (October 8, 2008) (SR–Amex 2008–63) (approving the Equities Relocation). 10 See Securities Exchange Act Release No. 58705 (October 1, 2008), 73 FR 58995 (October 8, 2008) (SR–Amex 2008–63) (approving the Equities Relocation); Securities Exchange Act Release No. 58833 (October 22, 2008), 73 FR 64642 (October 30, 2008) (SR–NYSE–2008–106) and Securities Exchange Act Release No. 58839 (October 23, 2008), 73 FR 64645 (October 30, 2008) (SR–NYSEALTR– 2008–03) (implementing the Bonds Relocation); Securities Exchange Act Release No. 59022 (November 26, 2008), 73 FR 73683 (December 3, 2008) (SR–NYSEALTR–2008–10) (adopting amendments to NYSE Amex Equities Rules to track changes to corresponding NYSE Rules); Securities Exchange Act Release No. 59027 (November 28, 2008), 73 FR 73681 (December 3, 2008) (SR– NYSEALTR–2008–11) (adopting amendments to Rule 62—NYSE Amex Equities to track changes to corresponding NYSE Rule 62). 11 See NYSE Amex Equities Rule 124(a). 12 Id. Odd-lot orders are in effect netted against one another and executed; however, since the DMM is buying the same amount that he or she is selling, there is no economic consequence to the DMM in this type of pairing-off of orders. Any imbalance of buy or sell odd-lot market orders are executed 9 See E:\FR\FM\25JNN1.SGM 25JNN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 74, Number 121 (Thursday, June 25, 2009)]
[Notices]
[Pages 30340-30342]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-14972]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60137; File No. SR-NYSEArca-2009-54]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change Relating to the
Listing and Trading of Shares of the iShares[supreg] MSCI All Peru
Capped Index Fund

June 18, 2009.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that on June 17, 2009, NYSE Arca, Inc. (``NYSE Arca'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as 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\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

The Exchange proposes to list and trade shares (``Shares'') of the
following fund of the iShares[supreg] Trust (``Trust''):
iShares[supreg] MSCI All Peru Capped Index Fund (``Fund''). The text of
the proposed rule change is available on the Exchange's Web site at
https://www.nyse.com, at the Exchange's principal office and at the
Public Reference Room of the Commission.

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 those 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 Exchange proposes to list and trade the Shares of the following
fund under NYSE Arca Equities Rule 5.2(j)(3), the Exchange's listing
standards for Investment Company Units (``ICUs''):\4\ iShares[supreg]
MSCI All Peru Capped Index Fund.\5\
---------------------------------------------------------------------------

\4\ An Investment Company Unit is a security that represents an
interest in a registered investment company that holds securities
comprising, or otherwise based on or representing an interest in, an
index or portfolio of securities (or holds securities in another
registered investment company that holds securities comprising, or
otherwise based on or representing an interest in, an index or
portfolio of securities). See NYSE Arca Equities Rule 5.2(j)(3)(A).
\5\ See the Trust's Registration Statement for the Fund on Form
N-1A, dated June 17, 2009 (File Nos. 333-92935 and 811-09729).
---------------------------------------------------------------------------

According to the Registration Statement, the Fund seeks investment
results that correspond generally to the price and yield performance,
before fees and expenses, of the MSCI All Peru Capped Index (the
``Index'').
The Index is sponsored by MSCI, Inc., the Index Provider, that is
independent of the Fund and Barclays Global Fund Advisors, the
investment adviser to the Fund. The Index Provider determines the
composition and relative weightings of the securities in the Index and
publishes information regarding the market value of the Index.
The Index is a free float-adjusted market capitalization index with
approximately 25 components. Any single security with a free float-
adjusted market capitalization weight greater than 22.5% will have its
weight capped in the Index at 22.5%. All single securities with a
weight greater than 4.5% will have their weights capped such that, in
the aggregate, these securities do not have a weight greater than 45%
of the Index. The Index is designed to measure the performance of the
``Broad Peru Equity Universe.'' MSCI defines the Broad Peru Equity
Universe by identifying Peruvian equity securities that are classified
in Peru according to the MSCI Global Investable Market Indices
Methodology (a methodology employed by MSCI to construct its Global
Investable Market Indices, which classifies eligible securities
according to their country of listing) as well as securities of
companies that are headquartered in Peru and have the majority of their
operations based in Peru. As of May 31, 2009, the Index's three largest
constituents were Compania de Minas Buenaventura S.A., Southern Copper
Corporation, and Credicorp Ltd.
The Exchange is submitting this proposed rule change because the
Index for the Fund does not meet all of the ``generic'' listing
requirements of Commentary .01(a)(B) to NYSE Arca Equities Rule
5.2(j)(3) applicable to listing of ICUs based on international or
global indexes. The Index meets all such requirements except for those
set forth in Commentary .01(a)(B)(2).\6\ The Exchange represents that:
(1) Except for the requirement under Commentary .01(a)(B)(2) to NYSE
Arca Equities Rule 5.2(j)(3) that component stocks that in the
aggregate account for at least 90% of the weight of the index each
shall have a minimum monthly trading volume during each of the last six
months of at least 250,000 shares, the Shares of the Fund currently
satisfy all of the generic listing standards under NYSE Arca Equities
Rule 5.2(j)(3); (2) the continued listing standards under NYSE Arca
Equities Rules 5.2(j)(3) and 5.5(g)(2) applicable to ICUs shall apply
to the Shares; and (3) the Trust is required to comply with Rule 10A-3
\7\ under the Securities Exchange Act of 1934 (``Act'') \8\ for the
initial and continued listing of the Shares. In addition, the Exchange
represents that the Shares will comply with all other requirements
applicable to ICUs including, but not limited to, requirements relating
to the dissemination of key information such as the Index value and
Intraday Indicative Value, rules governing the trading of equity
securities, trading hours, trading halts, surveillance,\9\ and
Information Bulletin to ETP Holders, as set forth in Exchange rules
applicable to ICUs and in prior Commission orders

[[Page 30341]]

approving the generic listing rules applicable to the listing and
trading of ICUs.\10\
---------------------------------------------------------------------------

\6\ The Exchange states that the Index fails to meet the
requirement of Commentary .01(a)(B)(2) to NYSE Arca Equities Rule
5.2(j)(3) that component stocks that in the aggregate account for at
least 90% of the weight of the index each shall have a minimum
monthly trading volume of at least 250,000 shares. The Exchange
states that, as of May 31, 2009, component stocks that in the
aggregate account for 86.23% of the Index weight had a minimum
monthly trading volume of at least 250,000 shares.
\7\ 17 CFR 240.10A-3.
\8\ 15 U.S.C. 78a.
\9\ The Exchange may obtain information for surveillance
purposes via the Intermarket Surveillance Group (``ISG'') from other
exchanges who are members of ISG. The Exchange notes that the Index
component stocks do not trade on markets that are ISG members and
the Exchange does not have a comprehensive surveillance agreement
with such markets. For a list of the current members of ISG, see
https://www.isgportal.org.
\10\ See, e.g., Securities Exchange Act Release No. 55621 (April
12, 2007), 72 FR 19571 (April 18, 2007) (SR-NYSEArca-2006-86) (order
approving generic listing standards for ICUs based on international
or global indexes); Securities Exchange Act Release No. 44551 (July
12, 2001), 66 FR 37716 (July 19, 2001) (SR-PCX-2001-14) (order
approving generic listing standards for ICUs and Portfolio
Depositary Receipts); Securities Exchange Act Release No. 41983
(October 6, 1999), 64 FR 56008 (October 15, 1999) (SR-PCX-98-29)
(order approving rules for listing and trading of ICUs).
---------------------------------------------------------------------------

Detailed descriptions of the Fund, the Index, the Index Provider,
procedures for creating and redeeming Shares, transaction fees and
expenses, risks, dividends, distributions, taxes, and reports to be
distributed to beneficial owners of the Shares can be found in the
Trust's Registration Statement or on the Web site for the Fund (https://www.ishares.com), as applicable.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) \11\ of
the Act, in general, and furthers the objectives of Section
6(b)(5),\12\ 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 facilitating transactions in securities, and to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system. The proposed rule change will
allow the listing and trading of the Fund on the Exchange, which the
Exchange believes will enhance competition among market participants,
to the benefit of investors and the marketplace.
---------------------------------------------------------------------------

\11\ 15 U.S.C. 78f(b).
\12\ 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

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

Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) \13\ of the Act and subparagraph (f)(6) of Rule
19b-4 \14\ thereunder.
---------------------------------------------------------------------------

\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to provide the Commission
with 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 business days prior to the date of filing of the
proposed rule change, or such shorter time as designated by the
Commission. The Exchange satisfied this requirement.
---------------------------------------------------------------------------

A proposed rule change filed under Rule 19b-4(f)(6) \15\ normally
does not become operative for 30 days after the date of filing.
However, Rule 19b-4(f)(6)(iii),\16\ permits the Commission to designate
a shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange requests that the
Commission waive the 30-day operative delay so that the proposal may
become operative immediately upon filing. The Exchange states that the
proposed rule change does not significantly affect the protection of
investors or the public interest and does not impose any significant
burden on competition.
---------------------------------------------------------------------------

\15\ 17 CFR 240.19b-4(f)(6).
\16\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

The Commission believes waiving the 30-day operative delay is
consistent with the protection of investors and the public interest.
Recently, NYSE Arca proposed to list another series of ICUs based on an
index that is very similar to the Index.\17\ The Commission believes
that the listing and trading of the Shares do not present any novel or
significant issues or impose any significant burden on competition, and
that waiving the 30-day operative delay will benefit the market and
investors by providing market participants with additional investing
choices. For the reasons described above, the Commission designates the
proposal to be effective and operative upon filing with the
Commission.\18\
---------------------------------------------------------------------------

\17\ Compare the Index with the MSCI All Peru Index, which is
described in Securities Exchange Act Release No. 59471 (February 27,
2009), 74 FR 9862 (March 6, 2009).
\18\ 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. 15 U.S.C. 78(c)(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 (https://www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2009-54 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2009-54. 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 (https://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 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-2009-54 and

[[Page 30342]]

should be submitted on or before July 16, 2009.
---------------------------------------------------------------------------

\19\ 17 CFR 200.30-3(a)(12).

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority. \19\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-14972 Filed 6-24-09; 8:45 am]
BILLING CODE 8010-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.