Federal Register / Vol. 70, No. 195 / Tuesday, October 11, 2005 / Notices 59099 

1 15 U.S.C. 78l(d). 

2 17 CFR 240.12d2–2(d). 

3 15 U.S.C. 78l(b). 

4 15 U.S.C. 78l(g). 5 17 CFR 200.30–3(a)(1). 

III. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether Nasdaq’s 

Amendment Nos. 4 and 5 to its Form 1 

are 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 10–131 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Jonathan G. Katz, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–9303. 

All submissions should refer to File 

Number 10–131. 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/other.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to Nasdaq’s Form 1 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. 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. 

The Commission requests that 

commenters focus on issues raised in 

Nasdaq’s Form 1, File No. 10–131, when 

submitting comments on this notice. All 

submissions should refer to File 

Number 10–131 and should be 

submitted on or before November 10, 

2005. 

By the Commission. 

Jonathan G. Katz, 

Secretary. 

[FR Doc. 05–20314 Filed 10–7–05; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 1–10382] 

Issuer Delisting; Notice of Application 

of Valley Forge Scientific Corp. To 

Withdraw Its Common Stock, No Par 

Value, From Listing and Registration 

on the Boston Stock Exchange, Inc. 

October 4, 2005. 

On September 16, 2005, Valley Forge 

Scientific, Corp., a Pennsylvania 

corporation (‘‘Issuer’’), filed an 

application with the Securities and 

Exchange Commission (‘‘Commission’’), 

pursuant to Section 12(d) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 12d2–2(d) 

thereunder,2 to withdraw its common 

stock, no par value (‘‘Security’’), from 

listing and registration on the Boston 

Stock Exchange, Inc. (‘‘BSE’’). 

The Board of Directors (‘‘the Board’’) 

of the Issuer approved resolutions on 

September 12, 2005 to withdraw the 

Security from listing on BSE. The Issuer 

stated that the Board decided to 

withdraw the Security from BSE for the 

following reasons: (i) The Security has 

been, and expects to continue to be, 

traded on The Nasdaq SmallCap Market 

(‘‘Nasdaq’’); and (ii) additionally, the 

Security has not been actively traded on 

BSE during the last ten years. Therefore, 

the Board determined to delist the 

Security from BSE for administrative 

efficiency. 

The Issuer stated in its application 

that it has complied with applicable 

rules of BSE by complying with all 

applicable laws in the Commonwealth 

of Pennsylvania, the State in which the 

Issuer is incorporated, and by providing 

BSE with the required documents 

governing the withdrawal of securities 

from listing and registration on BSE. 

The Issuer’s application relates solely to 

the withdrawal of the Security from 

listing on BSE and from registration 

under Section 12(b) of the Act,3 and 

shall not affect its obligation to be 

registered under Section 12(g) of the 

Act.4

Any interested person may, on or 

before October 28, 2005 comment on the 

facts bearing upon whether the 

application has been made in 

accordance with the rules of BSE, and 

what terms, if any, should be imposed 

by the Commission for the protection of 

investors. All comment letters may be 

submitted by either of the following 

methods: 

Electronic Comments 

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

File Number 1–10382 or; 

Paper Comments 

• Send paper comments in triplicate 

to Jonathan G. Katz, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–9303. 

All submissions should refer to File 

Number 1–10382. This file number 

should be included on the subject line 

if e-mail is used. To help us 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/delist.shtml). 

Comments are also available for public 

inspection and copying in the 

Commission’s Public Reference Room. 

All comments received will be posted 

without change; we do not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. 

The Commission, based on the 

information submitted to it, will issue 

an order granting the application after 

the date mentioned above, unless the 

Commission determines to order a 

hearing on the matter. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.5

Jonathan G. Katz, 

Secretary. 

[FR Doc. E5–5559 Filed 10–7–05; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

FEDERAL REGISTER CITATION OF PREVIOUS

ANNOUNCEMENT: [To be published]. 

STATUS: Closed meeting. 

PLACE: 100 F Street, NE., Washington, 

DC. 

ANNOUNCEMENT OF ADDITIONAL MEETING: 

Additional meeting. 

An additional Closed Meeting has 

been scheduled for Wednesday, October 

12, 2005 at 9 a.m. 

Commissioners and certain staff 

members who have an interest in the 

matter will attend the closed meeting. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

59100 Federal Register / Vol. 70, No. 195 / Tuesday, October 11, 2005 / Notices 

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

2 17 CFR 240.19b–4. 

3 In Amendment No. 1, the Exchange modified 

the proposed rule text and accompanying 

description. Amendment No. 1 replaced Amex’s 

original submission in its entirety. 

4 In Amendment No. 2, the Exchange clarified the 

portfolio investment methodology and made certain 

other clarifications to the description of the 

proposal. 

5 In Amendment No. 3, the Exchange provided 

additional details regarding the disclosure of the 

portfolio holdings of the Fund Shares and made 

certain other minor corrections to the rule text and 

proposal. Amendment No. 3 replaced Amex’s 

earlier submissions in their entirety. 

6See Securities Exchange Act Release No. 52197 

(August 2, 2005), 70 FR 46228 (‘‘Notice’’). 

7 In Amendment No. 4, the Amex clarified that 

Authorized Participants (‘‘APs’’), as defined in the 

proposal, who create and redeem Index Fund 

Shares, will deposit and receive only stock and/or 

cash, not other financial instruments. 

8Amex Rules 1000A et seq. provide standards for 

the listing of Index Fund Shares, which are 

securities issued by an open-end management 

investment company for exchange trading. These 

securities are registered under the Investment 

Company Act of 1940 (‘‘1940 Act’’), as well as the 

Exchange Act. Index Fund Shares are defined in 

Rule 1000A as securities based on a portfolio of 

stocks or fixed income securities that seek to 

provide investment results that correspond 

generally to the price and yield of a specified 

foreign or domestic stock index or fixed income 

securities index. 

9Exchange-traded funds (‘‘ETFs’’) based on each 

of the Underlying Indexes are listed and/or traded 

on the Exchange. See Securities Exchange Act 

Release Nos. 31591 (December 11, 1992), 57 FR 

60253 (December 18, 1992) (S&P 500 SPDR); 39143 

(September 29, 1997), 62 FR 51917 (October 3, 

1997) (DIAMONDS); 41119 (February 26, 1999), 64 

FR 11510 (March 9, 1999) (QQQ); and 35689 (May 

8, 1995), 60 FR 26057 (May 16, 1995) (S&P MidCap 

400). The Statement of Additional Information 

(‘‘SAI’’) for the Funds discloses that each Fund 

reserves the right to substitute a different Index. 

Substitution could occur if the Index becomes 

unavailable, no longer serves the investment needs 

of shareholders, the Fund experiences difficulty in 

achieving investment results that correspond to the 

Index, or for any other reason determined in good 

faith by the Board. In such instance, the substitute 

index will attempt to measure the same general 

market as the current index. Shareholders will be 

notified (either directly or through their 

intermediary) in the event a Fund’s current index 

is replaced. In the event a Fund substitutes a 

different index, the Exchange will file a new Rule 

19b–4 filing with the Commission. 

10 Id. 

11The NAV of each Fund is calculated and 

determined each business day at the close of regular 

trading, typically 4:00 p.m. e.s.t. 

U.S.C. 552b(c)(5), (7), (9)(B) and (10) 

and 17 CFR 200.402(a)(5), (7), 9(ii) and 

(10) permit consideration of the 

scheduled matter at the closed meeting. 

Commissioner Nazareth, as duty 

officer, determined that no earlier notice 

thereof was possible. 

The subject matter of the Closed 

Meeting will be: Institution and 

settlement of an injunctive action. 

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: October 5, 2005. 

Jonathan G. Katz, 

Secretary. 

[FR Doc. 05–20389 Filed 10–6–05; 11:37 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–52553; File No. SR–Amex–

2004–62] 

Self-Regulatory Organizations; 

American Stock Exchange LLC; Order 

Granting Approval to Proposed Rule 

Change and Amendment Nos. 1, 2, and 

3 and Notice of Filing and Order 

Granting Accelerated Approval of 

Amendment No. 4 Relating to Listing 

and Trading of Shares of the 

xtraShares Trust 

October 3, 2005. 

I. Introduction 

On August 2, 2004, the American 

Stock Exchange LLC (‘‘Amex’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) 1 of the Securities Exchange Act 

of 1934 (‘‘Act’’ or ‘‘Exchange Act’’) and 

Rule 19b–4 thereunder,2 a proposed rule 

change to amend Amex Rule 411 (‘‘Duty 

to Know and Approve Customers’’) and 

Rule 1000A (‘‘Index Fund Shares’’) and 

related Commentary .02 to 

accommodate the listing of Index Fund 

Shares that seek to provide investment 

results that exceed the performance of a 

securities index by a specified 

percentage or that seek to provide 

investment results that correspond to 

the inverse or opposite of the index’s 

performance. The proposed rule change 

will accommodate listing on the 

Exchange of the following eight (8) 

funds of the xtraShares Trust (the 

‘‘Trust’’): Ultra500 Fund; Ultra100 

Fund; Ultra30 Fund; UltraMid-Cap 400 

Fund; Short500 Fund; Short100 Fund; 

Short30 Fund; and ShortMid-Cap 400 

Fund (the ‘‘Funds’’). On March 4, 2005, 

the Exchange filed Amendment No. 1.3

On May 9, 2005, the Exchange filed 

Amendment No. 2.4 The Exchange filed 

Amendment No. 3 on August 1, 2005.5

The proposed rule change, as amended, 

was published for comment in the 

Federal Register on August 9, 2005.6

The Commission received no comments 

on the proposal. On September 15, 

2005, the Exchange filed Amendment 

No. 4.7 This order approves the 

proposed rule change as amended. 

Simultaneously, the Commission 

provides notice of, and grants 

accelerated approval to, Amendment 

No. 4. 

II. Description of Proposed Rule Change 

As set forth in the Notice, the 

Exchange proposes to amend Rule 

1000A and related Commentary .02 to 

accommodate the listing of Index Fund 

Shares that seek to provide investment 

results that exceed the daily 

performance of a specified stock index 

by a specified percentage (e.g., equal to 

200 percent of the index value) or that 

seek to provide investment results that 

correspond to the inverse or opposite of 

the index’s daily performance.8

The Exchange proposes to list, under 

amended Rule 1000A, the shares of the 

Funds (‘‘Shares’’). Four of the Funds—

the Ultra500, Ultra100, Ultra30, and 

UltraMid-Cap400 Funds (the ‘‘Bullish 

Funds’’)—seek daily investment results, 

before fees and expenses, that 

correspond to twice (200%) the daily 

performance of the Standard and Poor’s 

500 Index (‘‘S&P 500’’), the Nasdaq100 Index (‘‘Nasdaq 100’’), the Dow 

Jones Industrial AverageSM (‘‘DJIA’’), 

and the S&P MidCap400TM Index (‘‘S&P 

MidCap’’), respectively. (These indexes 

are referred to herein as ‘‘Underlying 

Indexes’’.) 9 Each of these Funds, if 

successful in meeting its objective, 

should gain, on a percentage basis, 

approximately twice as much as the 

Fund’s Underlying Index when the 

prices of the securities in such Index 

increase on a given day and should lose 

approximately twice as much when 

such prices decline on a given day. In 

addition, four other Funds—the 

Short500, Short100, Short30, and 

ShortMid-Cap400 Funds (the ‘‘Bearish 

Funds’’)—seek daily investment results, 

before fees and expenses, which 

correspond to the inverse or opposite of 

the daily performance (¥100%) of the 

S&P 500, Nasdaq-100, DJIA, and S&P 

MidCap, respectively.10 If each of these 

Funds is successful in meeting its 

objective, the net asset value (the 

‘‘NAV’’) 11 of Shares of each Fund 

should increase approximately as much, 

on a percentage basis, as the respective 

Underlying Index loses when the prices 

of the securities in the Index decline on 

a given day, or should decrease 

approximately as much as the respective 

Index gains when the prices of the 

securities in the index rise on a given 

day. 

ProFunds Advisors LLC is the 

investment adviser (the ‘‘Advisor’’) to 

each Fund. The Advisor is registered 

under the Investment Advisers Act of