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36370 Federal Register / Vol. 71, No.

122 / Monday, June 26, 2006 / Notices

III. Date of Effectiveness of the Paper Comments SECURITIES AND EXCHANGE


Proposed Rule Change and Timing for COMMISSION
Commission Action • Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Because the foregoing rule change: (1) [Release No. 34–54008; File No. SR–NYSE–
Securities and Exchange Commission,
Does not significantly affect the 2006–43]
Station Place, 100 F Street, NE.,
protection of investors or the public Washington, DC 20549–1090.
interest; (2) does not impose any Self-Regulatory Organizations; New
significant burden on competition; and All submissions should refer to File York Stock Exchange LLC; Notice of
(3) does not become operative for 30 Number SR–NASD–2006–067. This file Filing of Proposed Rule Change To
days from the date on which it was number should be included on the Amend Section 902.02 of the Listed
filed, or such shorter time as the subject line if e-mail is used. To help the Company Manual To Exempt
Commission may designate if consistent Commission process and review your Companies Transferring From NYSE
with the protection of investors and the comments more efficiently, please use Arca From Initial Listing Fees and the
public interest, the proposed rule only one method. The Commission will Annual Fee for the Year of Such
change has become effective pursuant to post all comments on the Commission’s Transfer
section 19(b)(3)(A) of the Act 10 and Internet Web site (http://www.sec.gov/ June 16, 2006.
Rule 19b–4(f)(6) thereunder.11 rules/sro.shtml). Copies of the
At any time within 60 days of the submission, all subsequent Pursuant to Section 19(b)(1) of the
filing of such proposed rule change, the amendments, all written statements Securities Exchange Act of 1934 (the
Commission may summarily abrogate with respect to the proposed rule ‘‘Act’’),1 and Rule 19b–4 thereunder,2
such rule change if it appears to the change that are filed with the notice is hereby given that on June 7,
Commission that such action is Commission, and all written 2006, the New York Stock Exchange
necessary or appropriate in the public communications relating to the LLC (the ‘‘NYSE’’ or the ‘‘Exchange’’)
interest, for the protection of investors, proposed rule change between the filed with the Securities and Exchange
or otherwise in furtherance of the Commission and any person, other than Commission (‘‘Commission’’) the
purposes of the Act. those that may be withheld from the proposed rule change as described in
Nasdaq has asked that the public in accordance with the Items I, II, and III below, which Items
Commission waive the 30-day operative provisions of 5 U.S.C. 552, will be have been prepared by NYSE. The
delay contained in Rule 19b–4(f)(6)(iii) available for inspection and copying in Commission is publishing this notice to
under the Act.12 The Commission the Commission’s Public Reference solicit comments on the proposed rule
believes such waiver is consistent with Room. Copies of such filing also will be change from interested persons.
the protection of investors and the
available for inspection and copying at I. Self-Regulatory Organization’s
public interest, for it will allow Nasdaq
the principal office of NASD. All Statement of the Terms of Substance of
to modify the methodology for
comments received will be posted the Proposed Rule Change
distributing transaction credits under
NASD Rule 7010(c)(2) in such a way as without change; the Commission does
not edit personal identifying NYSE proposes to amend Section
to remain competitive within the 902.02 of its Listed Company Manual
marketplace. For these reasons, the information from submissions. You
should submit only information that (‘‘Manual’’) to provide that there shall
Commission designates the proposal to
you wish to make available publicly. All be no initial listing and no prorated
be effective and operative upon filing
submissions should refer to File annual fee payable with respect to the
with the Commission.13
Number SR–NASD–2006–067 and first partial calendar year of listing for
IV. Solicitation of Comments should be submitted on or before July any company listed on NYSE Arca, Inc.
17, 2006. (‘‘NYSE Arca’’) that transfers the listing
Interested persons are invited to
submit written data, views, and of its primary class of common shares to
For the Commission, by the Division of
arguments concerning the foregoing, the Exchange. The text of the proposed
Market Regulation, pursuant to delegated
including whether the proposed rule rule change is available at the
authority.14
change is consistent with the Act. Commission, at NYSE, and at http://
Nancy M. Morris, www.nyse.com.
Comments may be submitted by any of
Secretary.
the following methods: II. Self-Regulatory Organization’s
[FR Doc. E6–9983 Filed 6–23–06; 8:45 am]
Electronic Comments Statement of the Purpose of, and
BILLING CODE 8010–01–P
Statutory Basis for, the Proposed Rule
• Use the Commission’s Internet Change
comment form (http://www.sec.gov/
rules/sro.shtml); or In its filing with the Commission, the
• Send an e-mail to rule- Exchange included statements
comments@sec.gov. Please include File concerning the purpose of and basis for
No. SR–NASD–2006–067 on the subject the proposed rule change. The text of
line. these statements may be examined at
the places specified in Item IV below.
10 15 U.S.C. 78s(b)(3)(A). NYSE has prepared summaries, set forth
11 17 CFR 240.19b–4(f)(6). in Sections A, B, and C below, of the
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12 17 CFR 240.19b–4(f)(6)(iii).
most significant aspects of such
13 For purposes only of waiving the 30-day
statements.
operative delay of this proposal, the Commission
has considered the proposed rule’s impact on
1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. 15
U.S.C. 78c(f). 14 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4.

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Federal Register / Vol. 71, No. 122 / Monday, June 26, 2006 / Notices 36371

A. Self-Regulatory Organization’s development of NYSE Arca as a listing have rules that (i) provide for the
Statement of the Purpose of, and market. NYSE Group intends to build equitable allocation of reasonable dues,
Statutory Basis for, the Proposed Rule NYSE Arca into an alternative listing fees and other charges among its
Change venue for companies whose only members and other persons using its
realistic listing option is currently facilities and (ii) are designed to remove
1. Purpose
Nasdaq because they do not meet the impediments to and perfect the
New York Stock Exchange, Inc. and Exchange’s own listing standards due to mechanism of a free and open market
Archipelago Holdings, Inc. merged on their small size or insufficient operating and a national market system and are
March 7, 2006, leading to the creation history. NYSE Arca intends to adopt a not designed to permit unfair
of a new public holding company, new set of listing standards with discrimination between issuers. The
NYSE Group, Inc. (‘‘NYSE Group’’). As thresholds broadly comparable to those Exchange believes that the proposed fee
a result of the merger, NYSE Group is of Nasdaq and expects to compete waiver does not render the allocation of
the ultimate parent of two national directly with Nasdaq for initial public its listing fees inequitable or unfairly
securities exchanges, the Exchange and offerings that do not qualify for the discriminatory. The Exchange expects
NYSE Arca.3 Exchange. However, NYSE Group that, on average, the review of
NYSE Group expects that companies recognizes that, as a new market, NYSE companies transferring from NYSE Arca
that do not yet meet the Exchange’s Arca will initially face difficulties in to the Exchange will be less costly than
initial listing criteria will list first on attracting new listings. NYSE Group the review of a transfer from Nasdaq or
NYSE Arca and will subsequently believes that NYSE Arca’s affiliation the American Stock Exchange, as NYSE
transfer their listing to the Exchange if with the Exchange through their Regulation will already have performed
and when they qualify to do so. common parent is highly attractive to a substantial review of any NYSE Arca
Consistent with this approach, the companies considering listing on NYSE listed company and will be able to rely
Exchange proposes to amend Section Arca. Companies whose ultimate on that prior work as a baseline in
902.02 of the Manual to grant objective is to list on the Exchange can qualifying the company for listing on
companies transferring the listing of associate themselves with NYSE Group the Exchange. The Exchange believes
their primary class of common shares to by listing on NYSE Arca at the time of that, by making NYSE Arca a more
the Exchange from NYSE Arca a waiver their initial public offerings. NYSE attractive listing venue, the proposed fee
of the Exchange’s initial listing fees and Group believes that many companies waiver will assist NYSE Arca in
the prorated annual listing fee payable will consider this preferable to listing competing with Nasdaq for listings and
in connection with the first partial initially on Nasdaq and then is therefore designed to perfect the
calendar year of listing on the Exchange. transferring to the Exchange upon mechanism of a free and open market.
The Exchange believes this is achieving the Exchange’s listing
appropriate as companies transferring to standards and that the Exchange’s B. Self-Regulatory Organization’s
the Exchange from NYSE Arca will proposed fee waiver will appeal to Statement on Burden on Competition
already have paid annual continued companies considering listing on NYSE The Exchange does not believe that
listing fees to NYSE Arca for the Arca because of its association with the the proposed rule change will impose
calendar year in which they transfer, as Exchange. By increasing NYSE Arca’s any burden on competition that is not
well as the initial listing fee payable attractiveness as a listing venue, the necessary or appropriate in furtherance
under NYSE Arca’s rules at the time of Exchange believes the fee waiver will of the purposes of the Act.
initial listing on NYSE Arca. In lead to greater competition for new
addition, the Exchange notes that NYSE listings, as it will help NYSE Arca C. Self-Regulatory Organization’s
Regulation performs listed company become a viable alternative to Nasdaq, Statement on Comments on the
regulation for both the Exchange and which does not currently have any Proposed Rule Change Received From
NYSE Arca, including a substantial meaningful competition for new listings Members, Participants or Others
review of companies upon original that do not qualify for the Exchange. Written comments were neither
listing. Companies transferring from NYSE Group is willing to forego the solicited nor received by NYSE.
NYSE Arca will be subjected to the listing fee revenues from NYSE Arca
same rigorous regulatory review as any transfers because it believes that a III. Date of Effectiveness of the
other applicant for listing on the significant market opportunity exists for Proposed Rule Change and Timing for
Exchange. However, the Exchange NYSE Arca to compete successfully Commission Action
expects that, on average, the review of with Nasdaq. However, NYSE Group Within 35 days of the date of
companies transferring from NYSE Arca does not wish to waive transfer fees for publication of this notice in the Federal
to the Exchange will be less costly than transfers from all other markets as it Register or within such longer period (i)
the review of a transfer from the Nasdaq views initial listing fees as an important as the Commission may designate up to
National Market (‘‘Nasdaq’’) or the source of revenue. If the Exchange 90 days of such date if it finds such
American Stock Exchange, as NYSE decides to reimpose these fees with longer period to be appropriate and
Regulation will already have performed respect to transfers from NYSE Arca in publishes its reasons for so finding or
a substantial review of any NYSE Arca the future, it will do so by filing a (ii) as to which the Exchange consents,
listed company and will be able to rely proposed rule change with the the Commission will:
on that prior work as a baseline in Commission. (A) By order approve such proposed
qualifying the company for listing on rule change, or
the Exchange. 2. Statutory Basis (B) Institute proceedings to determine
The primary purpose of the proposed The Exchange believes that the whether the proposed rule change
fee waiver is to assist in the proposed rule change is consistent with should be disapproved.
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the requirements of Section 6(b)(4) 4 and


3 See Securities Exchange Act Release No. 53382 IV. Solicitation of Comments
(SR–NYSE–2005–77) (February 27, 2006), 71 FR
6(b)(5) of the Act 5 that an exchange
11251 (March 6, 2006) (SR–NYSE–2005–77)
Interested persons are invited to
(approving organizational changes in connection 4 15 U.S.C. 78f(b)(4). submit written data, views, and
with the merger). 5 15 U.S.C. 78f(b)(5). arguments concerning the foregoing,

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36372 Federal Register / Vol. 71, No. 122 / Monday, June 26, 2006 / Notices

including whether the proposed rule SECURITIES AND EXCHANGE No. 2, grants accelerated approval of
change is consistent with the Act. COMMISSION Amendment No. 2, and solicits
Comments may be submitted by any of comments from interested persons on
[Release No. 34–54013; File No. SR–NYSE–
the following methods: 2006–17]
Amendment No. 2.
Electronic Comments I. Description of Proposal
Self-Regulatory Organizations; New
• Use the Commission’s Internet York Stock Exchange LLC; Order The NYSE proposes to adopt rules
comment form (http://www.sec.gov/ Granting Approval of Proposed Rule that would provide for and govern the
rules/sro.shtml); or Change and Amendment No. 1 trading of Commodity Trust Shares. A
Thereto, and Notice of Filing and Order Commodity Trust Share is defined as
• Send an e-mail to rule- Granting Accelerated Approval To A security that: (a) Is issued by a trust
comments@sec.gov. Please include File Amendment No. 2, Relating to Listing (‘‘Trust’’) which (i) is a commodity pool that
Number SR–NYSE–2006–43 on the and Trading Shares of the iShares is managed by a commodity pool operator
subject line. GSCI Commodity Indexed Trust Under registered as such with the Commodity
New Rules 1300B and 1301B, et seq. Futures Trading Commission, and (ii) which
Paper Comments holds positions in futures contracts on a
June 16, 2006. specified commodity index, or interests in a
• Send paper comments in triplicate
On March 7, 2006, the New York commodity pool which, in turn, holds such
to Nancy M. Morris, Secretary, Stock Exchange LLC (‘‘NYSE’’ or positions; (b) when aggregated in some
Securities and Exchange Commission, ‘‘Exchange’’) filed with the Securities specified minimum number may be
Station Place, 100 F Street, NE., and Exchange Commission surrendered to the Trust by the beneficial
Washington, DC 20549–1090. (‘‘Commission’’), pursuant to section owner to receive positions in futures
contracts on a specified index and cash or
All submissions should refer to File 19(b)(1) of the Securities Exchange Act short term securities.
Number SR–NYSE–2006–43. This file of 1934 (‘‘Act’’) 1 and Rule 19b–4
number should be included on the thereunder,2 a proposal to adopt rules Proposed NYSE Rule 1300B(a). In
subject line if e-mail is used. To help the that would provide for and govern the addition, Proposed NYSE Rule 1301B
trading of Commodity Trust Shares, sets forth guidelines for specialists in
Commission process and review your
including shares (‘‘Shares’’) of the Commodity Trust Shares and other
comments more efficiently, please use
iShares GSCI Commodity—Indexed products whose price is based, in whole
only one method. The Commission will Trust (‘‘Trust’’). On March 24, 2006, the
or in part, on: (a) The price of a
post all comments on the Commission’s Exchange filed Amendment No. 1 to the
commodity or commodities; (b) any
Internet Web site (http://www.sec.gov/ proposed rule change. The proposed futures contracts or other derivatives
rules/sro.shtml). Copies of the rule change, as amended, was published based on a commodity or commodities;
submission, all subsequent for comment in the Federal Register on or any indexed based on either (a) or (b),
amendments, all written statements April 24, 2006.3 On June 15, 2006, the above.
with respect to the proposed rule Exchange filed Amendment No. 2 to the
change that are filed with the proposed rule change.4 The Commission Pursuant to Proposed NYSE Rule
Commission, and all written received one comment letter.5 On May 1300B, et seq., the Exchange proposes to
communications relating to the 12, 2006, the Exchange filed a response list and trade Shares, which fall within
to those comments.6 This order the definition of Commodity Trust
proposed rule change between the
Shares (as mentioned above) and are
Commission and any person, other than approves the proposed rule change, as
amended by Amendment No. 1. linked to the performance of the GSCI
those that may be withheld from the
Simultaneously, the Commission Total Return Index (‘‘Index’’ or ‘‘GSCI–
public in accordance with the TR’’).
provisions of 5 U.S.C. 552, will be provides notice of filing of Amendment
available for inspection and copying in Description of the Shares
1 15 U.S.C. 78s(b)(1).
the Commission’s Public Reference 2 17 CFR 240.19b–4. The Shares will constitute units of
Room. Copies of such filing also will be 3 Securities Exchange Act Release No. 53659 beneficial interest representing
available for inspection and copying at (April 17, 2006), 71 FR 21074 (‘‘Notice’’). fractional undivided beneficial interests
the principal office of the Exchange. All 4 In Amendment No. 2, the Exchange states that:
in the net assets of the Trust (described
comments received will be posted (1) The Sponsor (defined below) has informed the
Exchange that the Trustee (also defined below) for below). The performance of the Shares
without change; the Commission does the Trust will make the net asset value (‘‘NAV’’) for is designed to correspond generally to
not edit personal identifying the Trust available to all market participants at the the performance of the Index before
information from submissions. You same time; (2) if the NAV is not disseminated to all
market participants at the same time, the Exchange
payment of the Trust’s and the Investing
should submit only information that will halt trading in the Shares; and (3) if the NAV Pool’s expenses and liabilities. The
you wish to make available publicly. All is not disseminated to all market participants at the investment objective of the Trust is for
submissions should refer to File same time, the Exchange will immediately contact the performance of the Shares to
Number SR–NYSE–2006–43 and should the Commission staff to discuss measures that may correspond to the performance of the
be appropriate under the circumstances.
be submitted on or before July 17, 2006. 5 See letter from Kevin Rich, Director and Chief Index before payment of the Trust’s and
For the Commission, by the Division of Executive Officer, DB Commodity Services LLC Investing Pool’s expenses and liabilities.
Market Regulation, pursuant to delegated (‘‘DB’’), to Nancy M. Morris, Secretary, As discussed below, the value of the
Commission, dated March 17, 2006 (‘‘Rich Letter’’). Index reflects the value of an investment
authority.6 That letter is available for review on the
Nancy M. Morris, Commission’s Web site at: http://www.sec.gov/ in the Goldman Sachs Commodity Index
comments/sr-nyse-2006-17/srnyse200617-1.pdf. (‘‘GSCI’’), a production-weighted index
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Secretary. 6 See letter from Mary Yeager, Assistant Secretary, of the prices of a diversified group of
[FR Doc. E6–9984 Filed 6–23–06; 8:45 am] NYSE, to Nancy M. Morris, Secretary, Commission, futures contracts on physical
dated May 12, 2006 (‘‘Yeager Letter’’). That letter
BILLING CODE 8010–01–P
also is available for review on the Commission’s
commodities, together with a Treasury
Web site at: http://www.sec.gov/comments/sr-nyse- bill rate of interest that could be earned
6 17 CFR 200.30–3(a)(12). 2006-17/myeager051206.pdf. on funds committed to the trading of the

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