Professional Documents
Culture Documents
closing prices, and other quantitative delivery requirement in the Information 19(b)(3)(A)(iii) of the Act 3 and Rule
information. Finally, the 12 Month Oil Bulletin. 19b–4(f)(6) thereunder,4 which renders
Fund and the 12 Month Natural Gas This approval order is based on the it effective upon filing with the
Fund’s Web sites will disclose, on each Exchange’s representations. Commission. The Commission is
business day that the Amex is open for The Commission finds good cause for publishing this notice to solicit
trading, the total portfolio composition. approving this proposal before the comments on the proposed rule change
The Commission also believes that the thirtieth day after the publication of from interested persons.
Exchange’s trading halt rules are notice thereof in the Federal Register.
reasonably designed to prevent trading As noted above, the Commission has I. Self-Regulatory Organization’s
in the Units when transparency is approved the original listing and trading Statement of the Terms of Substance of
impaired. Existing NYSE Arca Equities of the Units on Amex.29 The the Proposed Rule Change
Rule 7.34(a)(4), which will apply to the Commission presently is not aware of
trading of the Units, provides that, if the any regulatory issue that should cause it Phlx proposes to update the list in
Benchmark Futures Contract or to revisit that finding or would preclude Phlx Rule 101 of securities eligible to
Indicative Partnership Value is no the trading of the Units on the Exchange trade in one or more, but not all three,
longer calculated or disseminated as pursuant to UTP. Accelerating approval of the Exchange’s trading sessions. The
required (a) during the Opening Session of this proposal should benefit investors securities to be added are: (1) iShares
(4 a.m. to 9:30 a.m. ET), the Exchange by creating, without undue delay, MSCI Canada Index Fund; (2) iShares
may continue to trade the Units for the additional competition in the market for MSCI EAFE Index Fund; (3) iShares
remainder of the Opening Session; (b) such Units. MSCI EAFE Value Index Fund; (4)
during the Core Trading Session (9:30 iShares MSCI Emerging Markets Index
a.m. to 4 p.m. ET), the Exchange must V. Conclusion
Fund; (5) iShares MSCI S&P Europe
halt trading in the Units; and (c) during It is therefore ordered, pursuant to 350 Index Fund; (6) SPDR DJ Global
the Late Trading Session (4 p.m. to 8 Section 19(b)(2) of the Act,30 that the Titans ETF; and (7) Vanguard Emerging
p.m. ET), the Exchange may continue proposed rule change (SR–NYSEArca–
Markets ETF.5 The text of the proposed
trading in the Units only if the original 2007–102) be, and it hereby is, approved
rule change is available at Phlx’s
listing market traded such Units until on an accelerated basis.
principal office, the Commission’s
the close of its regular trading session For the Commission, by the Division of
without halt. If the Benchmark Futures Public Reference Room, and http://
Trading and Markets, pursuant to delegated
Contract or Indicative Partnership Value www.phlx.com.
authority.31
continues not to be calculated or Florence E. Harmon, II. Self-Regulatory Organization’s
disseminated as of the next business Deputy Secretary. Statement of the Purpose of, and
day’s Opening Session, the Exchange [FR Doc. E7–23112 Filed 11–27–07; 8:45 am] Statutory Basis for, the Proposed Rule
will not commence trading in the Units BILLING CODE 8011–01–P Change
in such Opening Session.28
The Commission notes that, if the In its filing with the Commission,
Units should be delisted by the listing SECURITIES AND EXCHANGE Phlx included statements concerning
exchange, the Exchange would no COMMISSION the purpose of, and basis for, the
longer have authority to trade the Units proposed rule change and discussed any
pursuant to this order. [Release No. 34–56828; File No. SR–Phlx–
2007–87] comments it received on the proposed
In support of this proposal, the rule change. The text of those
Exchange has made the following statements may be examined at the
Self-Regulatory Organizations;
representations:
(1) The Exchange’s surveillance Philadelphia Stock Exchange, Inc.; places specified in Item IV below. The
procedures are adequate to properly Notice of Filing and Immediate Exchange has prepared summaries, set
monitor the trading of the Units on a Effectiveness of Proposed Rule forth in Sections A, B, and C below, of
UTP basis during all trading sessions. Change Relating to the Trading the most significant parts of such
(2) The Exchange would inform its Sessions for Selected ETFs statements.
ETP Holders in an Information Bulletin November 20, 2007.
of the special characteristics and risks Pursuant to Section 19(b)(1) of the
associated with trading the Units, Securities Exchange Act of 1934
including risks inherent with trading (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 3 15 U.S.C. 78s(b)(3)(A)(iii).
the Units during the Opening and Late notice is hereby given that on November 4 17 CFR 240.19b–4(f)(6).
Trading Sessions when the updated 19, 2007, the Philadelphia Stock 5 Recently, NYSEArca, Inc. (‘‘NYSEArca’’) filed
Indicative Partnership Value is not Exchange, Inc. (‘‘Phlx’’ or ‘‘Exchange’’)
calculated and disseminated and and received approval for a proposed rule change
filed with the Securities and Exchange to expand the trading hours of the securities of
suitability recommendation Commission (‘‘Commission’’) the certain exchange-traded funds (‘‘ETFs’’) traded on
requirements. proposed rule change as described in the NYSE Arca Marketplace to include all three
(3) The Exchange would require its Items I and II below, which Items have trading sessions. See Securities Exchange Act
members to deliver a prospectus to been substantially prepared by Phlx. Release No. 56627 (October 5, 2007), 72 FR 58145
investors purchasing Units prior to or The Exchange filed the proposal as a (October 12, 2007) (SR–NYSEArca–2007–75). Phlx
concurrently with a transaction in such ‘‘non-controversial’’ proposed rule
is not proposing to adopt these changes at this time.
Units and will note this prospectus Prior to this, NYSEArca restricted the trading of
change pursuant to Section certain ETFs, including those referred to in this
ebenthall on PRODPC61 with NOTICES
28 The Exchange may resume trading in the Units proposed rule change, to one or two, but not all
29 See supra note 4.
only if the calculation and dissemination of the three, of its trading sessions. In this proposed rule
30 15 U.S.C. 78s(b)(2).
Benchmark Futures Contract or Indicative change, Phlx is proposing to adopt the same
31 17 CFR 200.30–3(a)(12). restricted sessions that NYSEArca had for the
Partnership Value resumes, or trading in the Units
1 15 U.S.C. 78s(b)(1). named ETFs prior to the approval of SR–
resumes in the original listing market. See NYSE
Arca Equities Rule 7.34(a)(4)(C)(2). 2 17 CFR 240.19b–4. NYSEArca–2007–75.
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