76056 Federal Register / Vol. 75, No. 234 / Tuesday, December 7, 2010 / Notices 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 56041 

(July 11, 2007), 72 FR 39114 (July 17, 2007) (SR– 

NYSEArca–2007–43) (order approving listing on the 

Exchange of iShares COMEX Gold Trust) (‘‘NYSE 

Arca Order’’). 

4Commodity-Based Trust Shares are securities 

issued by a trust that represent investors’ discrete 

identifiable and undivided beneficial ownership 

interest in the commodities deposited into the 

Trust. 

5Securities Exchange Act Release No. 51058 

(January 19, 2005), 70 FR 3749 (January 26, 2005) 

(SR–Amex–2004–38) (order approving listing of 

iShares COMEX Gold Trust on the American Stock 

Exchange LLC) (‘‘Amex Order’’). Notice for SR– 

Amex–2004–38 was published in Securities 

Exchange Act Release No. 50792 (December 3, 

2004) (‘‘Amex Notice’’). 

6 15 U.S.C. 77a. 

notice. To verify the status of meetings, 

call (recording)—(301) 415–1292. 

Contact person for more information: 

Rochelle Bavol, (301) 415–1651. 

* * * * * 

The NRC Commission Meeting 

Schedule can be found on the Internet 

at: http://www.nrc.gov/about-nrc/policymaking/schedule.html. 

* * * * * 

The NRC provides reasonable 

accommodation to individuals with 

disabilities where appropriate. If you 

need a reasonable accommodation to 

participate in these public meetings, or 

need this meeting notice or the 

transcript or other information from the 

public meetings in another format (e.g. 

braille, large print), please notify Angela 

Bolduc, Chief, Employee/Labor 

Relations and Work Life Branch, at 301– 

492–2230, TDD: 301–415–2100, or by email at angela.bolduc@nrc.gov. 

Determinations on requests for 

reasonable accommodation will be 

made on a case-by-case basis. 

* * * * * 

This notice is distributed 

electronically to subscribers. If you no 

longer wish to receive it, or would like 

to be added to the distribution, please 

contact the Office of the Secretary, 

Washington, DC 20555 (301–415–1969), 

or send an e-mail to 

darlene.wright@nrc.gov. 

Dated: December 2, 2010. 

Rochelle C. Bavol, 

Policy Coordinator, Office of the Secretary. 

[FR Doc. 2010–30846 Filed 12–3–10; 4:15 pm] 

BILLING CODE 7590–01–P 

OVERSEAS PRIVATE INVESTMENT 

CORPORATION 

Sunshine Act Notice 

Cancellation of December 9, 2010 Board 

Meeting 

OPIC’s Sunshine Act notice of its 

Board meeting was published in the 

Federal Register (Volume 75, Number 

210, Page 67145) on November 1, 2010. 

There being no business to bring before 

the Board, the meeting has been 

cancelled. 

CONTACT PERSON FOR INFORMATION: 

Information on the hearing cancellation 

may be obtained from Connie M. Downs 

at (202) 336–8438, via facsimile at (202) 

218–0136, or via e-mail at 

Connie.Downs@opic.gov. 

Dated: December 3, 2010. 

Connie M. Downs, 

OPIC Corporate Secretary. 

[FR Doc. 2010–30915 Filed 12–3–10; 4:15 pm] 

BILLING CODE 3210–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

FEDERAL REGISTER CITATION OF 

PREVIOUS ANNOUNCEMENT: 

STATUS: Closed meeting. 

PLACE: 100 F Street, NE., Washington, 

DC. 

DATE AND TIME OF PREVIOUSLY ANNOUNCED

MEETING: Thursday, December 9, 2010 at 

2 p.m. 

CHANGE IN THE MEETING: Time change. 

The closed meeting scheduled for 

Thursday, December 9, 2010 at 2 p.m. 

has been changed to Thursday, 

December 9, 2010 at 1 p.m. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. For further 

information and to ascertain what, if 

any, matters have been added, deleted 

or postponed, please contact the Office 

of the Secretary at (202) 551–5400. 

Dated: December 2, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–30731 Filed 12–3–10; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63398; File No. SR– 

NYSEArca–2010–105] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to the 

Calculation of Net Asset Value for the 

iShares® Gold Trust 

November 30, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on November 

23, 2010, NYSE Arca, Inc. (‘‘NYSE Arca’’ 

or the ‘‘Exchange’’) 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 Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to represent 

that the iShares® Gold Trust (‘‘Trust’’), 

which is currently listed on the 

Exchange, will value the gold owned by 

the iShares Gold Trust on the basis of 

the London PM Fix instead of the 

COMEX settlement price for the spot 

month gold futures contract for 

purposes of calculating the net asset 

value of shares (‘‘Shares’’) of the Trust. 

The text of the proposed rule change is 

available at the Exchange, the 

Commission’s Public Reference Room, 

and http://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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The iShares® Gold Trust (‘‘Trust’’) 

(formerly known as the iShares®

COMEX Gold Trust) is currently listed 

on the Exchange 3 under NYSE Arca 

Equities Rule 8.201 (Commodity-Based 

Trust Shares).4 The Trust was initially 

listed on the American Stock Exchange 

LLC (now known as NYSE Amex LLC 

(‘‘NYSE Amex’’)).5 According to the 

Trust’s registration statement on Form 

S–3, filed with the Commission under 

the Securities Act of 1933,6 the objective 

of the Trust is for the value of the Shares 

to reflect, at any given time, the price of 


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Federal Register / Vol. 75, No. 234 / Tuesday, December 7, 2010 / Notices 76057 

7See the registration statement for the iShares®

Gold Trust on Form S–3, filed with the Commission 

on June 28, 2010 (No. 333–167807) (‘‘Registration 

Statement’’). 

8On November 23, 2010, the Trust filed a Form 

8–K with the Commission relating to the 

prospective change of the benchmark used to value 

the gold held by the Trust (File No. 001–32418), 

which is available on the Commission’s Web site at 

http://www.sec.gov and on the Trust’s Web site at 

http://www.iShares.com. Following the 

effectiveness of the proposed rule change, the Trust 

(1) will issue a press release informing the public 

of the date the Trust will first use the London PM 

Fix to value the gold held by the Trust; (2) will file 

the press release with the Commission by means of 

Form 8–K, which will be available on the Trust’s 

Web site; and (3) will file an amendment to the 

Registration Statement on Form S–3 relating to the 

proposed change. See e-mail from Michael Cavalier, 

Chief Counsel, NYSE Euronext, to Christopher W. 

Chow, Special Counsel, Commission, dated 

November 29, 2010. 

9See Securities Exchange Act Release Nos. 56224 

(August 8, 2007), 72 FR 45850 (August 15, 2007) 

(SR–NYSEArca–2007–76) (approving listing on the 

Exchange of the streetTRACKS Gold Trust); 50603 

(October 28, 2004), 69 FR 64614 (November 5, 2004) 

(SR–NYSE–2004–22) (order approving listing of 

streetTRACKS Gold Trust on NYSE); 59895 (May 8, 

2009) (order approving listing on the Exchange of 

ETFS Gold Trust). These proposed rule changes 

include descriptions of the London bullion market 

and the London AM and PM Fixes. In addition, 

these proposed rule changes, as well as the Amex 

Notice and Amex Order include descriptions of the 

OTC gold market generally and regulation of the 

gold market. 

10 15 U.S.C. 78f(b). 

11 15 U.S.C. 78f(b)(5). 

12 15 U.S.C. 78s(b)(3)(A)(iii). 

13 17 CFR 240.19b–4(f)(6). 

14 15 U.S.C. 78s(b)(3)(A). 

15 17 CFR 240.19b–4(f)(6). 

16 Id. 

17 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule 

19b–4(f)(6)(iii) requires that a self-regulatory 

organization submit to the Commission 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 has satisfied this 

requirement. 

18See supra note 9 and accompanying text. 

19For the purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

gold owned by the Trust at that time 

less the Trust’s expenses and liabilities.7

The sponsor of the Trust is BlackRock 

Asset Management International Inc., a 

Delaware corporation and an indirect 

subsidiary of BlackRock, Inc. The 

trustee is The Bank of New York Mellon 

(‘‘Trustee’’) and JPMorgan Chase Bank, 

N.A., London branch, is the custodian 

for the Trust. 

The Trust has determined to change 

the price benchmark which the Trust 

uses to value the gold that it owns from 

that described in the Amex Notice and 

referenced in the NYSE Arca Order. 

According to the Registration Statement, 

the net asset value (‘‘NAV’’) of the Trust 

is obtained by subtracting the Trust’s 

expenses and liabilities on any day from 

the value of the gold owned by the Trust 

on that day; the net asset value per 

Share, or NAV, is obtained by dividing 

the NAV of the Trust on a given day by 

the number of Shares outstanding on 

that date. On each day on which NYSE 

Arca is open for regular trading, the 

Trustee determines the NAV as 

promptly as practicable after 4 p.m. 

(Eastern time). 

The Trustee currently values the 

Trust’s gold on the basis of that day’s 

COMEX settlement price for the spot 

month gold futures contract (the futures 

contract closest to maturity on that day). 

Going forward, the Trustee will value 

the Trust’s gold on the basis of the 

London PM Fix.8 The Commission 

previously has approved listing of 

Commodity-Based Trust Shares based 

on gold for which a trust’s gold holdings 

are valued based on the London PM 

Fix.9

Apart from the price benchmark used 

for valuing the Trust’s gold holdings, 

the representations made in the Amex 

Notice and Amex Order, and referenced 

in the NYSE Arca Order, continue to 

apply, except for the following: (1) The 

name of the Trust is changed; (2) the 

Trust’s sponsor and custodian are 

changed; and (3) the Trust represents 

that it is exempt from the requirements 

of Rule 10A–3 under the Act pursuant 

to paragraph (c)(7) of that rule. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 10 of the 

Act, in general, and furthers the 

objectives of Section 6(b)(5),11 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 

Exchange believes that the proposed 

rule change will facilitate the listing and 

trading of an additional type of 

exchange-traded product that will 

enhance competition among market 

participants, to the benefit of investors 

and the marketplace. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the 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 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 12 and Rule 

19b–4(f)(6) thereunder.13 Because the 

proposed rule change does not: (i) 

Significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 14 and Rule 19b–4(f)(6)(iii) 

thereunder.15

A proposed rule change filed under 

19b–4(f)(6) 16 normally may not become 

operative prior to 30 days after the date 

of filing.17 However, Rule 19b– 

4(f)(6)(iii) permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange has requested that the 

Commission waive the 30-day operative 

delay. The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest. As 

noted above,18 the Commission has 

approved the listing and trading of other 

issues of Commodity-Based Trust 

Shares that are valued using the same 

methodology proposed for the Trust, 

and therefore believes that no 

significant purpose would be served by 

a 30-day operative delay. For these 

reasons, the Commission designates the 

proposed rule change to be operative 

upon filing with the Commission.19

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend 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 


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76058 Federal Register / Vol. 75, No. 234 / Tuesday, December 7, 2010 / Notices 

20 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78k–1. 

2 17 CFR 242.608. 

3The OPRA Plan is a national market system plan 

approved by the Commission pursuant to Section 

11A of the Act and Rule 608 thereunder (formerly 

Rule 11Aa3–2). See Securities Exchange Act 

Release No. 17638 (March 18, 1981), 22 S.E.C. 

Docket 484 (March 31, 1981). The full text of the 

OPRA Plan is available at http:// 

www.opradata.com. 

The OPRA Plan provides for the collection and 

dissemination of last sale and quotation information 

on options that are traded on the participant 

exchanges. The nine participants to the OPRA Plan 

are BATS Exchange, Inc., Chicago Board Options 

Exchange, Incorporated, C2 Options Exchange, 

Incorporated, International Securities Exchange, 

LLC, NASDAQ OMX BX, Inc., NASDAQ OMX 

PHLX, Inc., NASDAQ Stock Market LLC, NYSE 

Amex, Inc., and NYSE Arca, Inc. 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NYSEArca–2010–105 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–2010–105. 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 (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 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–2010–105 and 

should be submitted on or before 

December 28, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.20

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–30574 Filed 12–6–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63400; File No. SR–OPRA– 

2010–04) 

Options Price Reporting Authority; 

Notice of Filing and Immediate 

Effectiveness of Proposed Amendment 

To Revise Section 4.04 of the Data 

Recipient Interface Specification and 

Section 4.15 of the Participant 

Interface Specification and Make 

Conforming Changes to Appendix D 

November 30, 2010. 

Pursuant to Section 11A of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 608 thereunder,2

notice is hereby given that on November 

9, 2010, the Options Price Reporting 

Authority (‘‘OPRA’’) submitted to the 

Securities and Exchange Commission 

(‘‘Commission’’) an amendment to the 

Plan for Reporting of Consolidated 

Options Last Sale Reports and 

Quotation Information (‘‘OPRA Plan’’).3

The proposed amendment would make 

identical changes to Section 4.04 of 

OPRA’s Data Recipient Interface 

Specification and Section 4.15 of its 

Participant Interface Specification (both 

Specifications are collectively referred 

to herein as the ‘‘OPRA Spec’’), which 

govern the format in which options 

market information is input to and 

disseminated from the OPRA Processor, 

in order to add message type codes 

specifying that either the bid side or the 

offer side, but not both sides, of a 

quotation is not firm. OPRA also 

proposes to make a conforming change 

to Appendix D of the OPRA Spec 

describing Best Bid and Offer (BBO) 

calculations. Sections 4.04 and 4.15 and 

Appendix D of the OPRA Spec, marked 

to show the changes proposed to be 

made, are attached as Exhibits 1.1, 1.2 

and 1.3, respectively, to the OPRA Plan 

amendment. 

The Commission is publishing this 

notice to solicit comments from 

interested persons on the proposed 

OPRA Plan amendment. 

I. Description and Purpose of the Plan 

Amendment 

The purpose of this filing is to revise 

Sections 4.04 and 4.15 of the OPRA 

Spec, which set forth message type 

codes indicating the characteristics of 

particular disseminated options 

quotations, in order to add codes 

specifying that either the bid side or the 

offer side, but not both sides, of a 

quotation is not firm. Under Sections 

4.04 and 4.15 as currently in effect, code 

‘‘F’’ is appended to a quotation where 

both the bid side and the offer side are 

not firm. This code may be used, for 

example, where systems or 

communications problems at an 

exchange prevent that exchange from 

sending firm quotes to OPRA for 

dissemination, but where the exchange 

is capable of providing non-firm quotes 

to indicate some sense of its market 

notwithstanding its systems problems. 

Even if an exchange is not having 

systems problems, it might use code ‘‘F’’ 

to indicate that its quotes are not 

available for automatic execution 

because, for example, the quotes are 

disseminated outside of the hours when 

automatic execution facilities are in use. 

However, there are no codes in Sections 

4.04 and 4.15 to indicate that one side 

of a quote is not firm while the other 

side is firm. This situation could arise, 

for example, when an exchange is in the 

process of collecting liquidity, either 

during an auction or when there is a 

price-driven integrity pause. In this 

situation, OPRA believes it would be 

more useful to OPRA subscribers if the 

affected exchange and OPRA could 

indicate that one side of a quote is firm 

and the other side is not firm rather than 

not displaying the quote at all or 

displaying it under the ‘‘F’’ code, which 

would incorrectly indicate that neither 

side of the quote is firm. 

In the absence of a one-side only nonfirm code, in accordance with the 

current OPRA Spec, exchanges have 

displayed a zero value for the price and 

size of that side of a quote that is not 

firm while showing the actual price and 

size of the firm side of the quote. This 

has proved to be a less than optimal 

solution because it does not provide a 

way to indicate that there is bid or offer 

interest even if it is not available for 

automatic execution at that time. 

Bidding or offering at zero price and 

zero size means that no offer side or no 

bid side interests exists, which may not 

correctly reflect the actual state of the 

market. For this reason, OPRA is now 

proposing to add to Sections 4.04 and 

4.15 of the OPRA Spec two new codes: 


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