63530 Federal Register / Vol. 75, No. 199 / Friday, October 15, 2010 / Notices 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78k–1(a)(1). 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

paragraph (d). In addition, because 

proposed paragraph (d) makes clear that 

the obligations of that paragraph apply 

during Regular Trading Hours, the 

Exchange proposes to delete paragraph 

(b) of current Rule 11.8 related to the 

[sic] when the current quoting 

obligations apply. Finally, the Exchange 

proposes deletion of current Rule 

11.8(e), related to temporary 

withdrawal, because Exchange Rule 

11.5(d) already provides a Market Maker 

with the ability to withdraw his or her 

status as a Market Maker and Rule 

11.7(b) already provides a Market Maker 

with the ability to terminate his or her 

registration in a security. The Exchange 

believes that these mechanisms are 

sufficient for a Market Maker to 

withdraw or terminate its registration in 

a security or as a Market Maker without 

the need for an additional provision 

related to withdrawal. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with the 

requirements of the Act and the rules 

and regulations thereunder that are 

applicable to a national securities 

exchange, and, in particular, with the 

requirements of Section 6(b) of the Act.7

In particular, the proposed change is 

consistent with Section 6(b)(5) of the 

Act,8 because it would promote just and 

equitable principles of trade, remove 

impediments to, and perfect the 

mechanism of, a free and open market 

and a national market system, and, in 

general, protect investors and the public 

interest. The proposed rule change is 

also designed to support the principles 

of Section 11A(a)(1) 9 of the Act in that 

it seeks to assure fair competition 

among brokers and dealers and among 

exchange markets. The Exchange 

believes that the proposed rule meets 

these requirements in that it promotes 

uniformity across markets concerning 

minimum market maker quotation 

requirements. The Exchange believes 

that the proposed optional functionality 

to assist Exchange Market Makers in 

maintaining continuous, two-sided limit 

orders in the securities in which they 

are registered will encourage Market 

Makers to remain registered with and 

trade on the Exchange, thus providing 

valuable liquidity to the Exchange; at 

the same time, the Exchange believes 

that the proposed functionality will 

keep Exchange generated quotations 

within reasonable reach of the NBBO 

and that the elimination of ‘‘stub quotes’’ 

is important for the protection of 

investors and the public interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change imposes any 

burden on competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: 

(A) By order approve or disapprove 

the proposed rule change, or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

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

Number SR–BYX–2010–001 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–BYX–2010–001. 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 website viewing and 

printing 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 such 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 

publicly available. All submissions 

should refer to File Number SR–BYX– 

2010–001 and should be submitted on 

or before November 5, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–25952 Filed 10–14–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63067; File No. SR– 

NYSEArca-2010–78] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Order Granting Approval of 

Proposed Rule Change Relating to 

Listing and Trading Shares of Jefferies 

Commodity Real Return ETF 

October 8, 2010. 

I. Introduction 

On August 17, 2010, NYSE Arca, Inc. 

(‘‘NYSE Arca’’ or ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b-4 thereunder,2 a proposed rule 

change to list and trade shares (‘‘Shares’’) 

of Jefferies Commodity Real Return ETF 

(the ‘‘Fund’’). The proposed rule change 

was published for comment in the 

mstockstill on DSKH9S0YB1PROD with NOTICES

Federal Register / Vol. 75, No. 199 / Friday, October 15, 2010 / Notices 63531 

3See Securities Exchange Act Release No. 62768 

(August 26, 2010), 75 FR 54199 (‘‘Notice’’). 

4See supra note 3. 

5 In approving this proposed rule change, the 

Commission notes that it has considered the 

proposed rule’s impact on efficiency, competition, 

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

6 15 U.S.C. 78f(b)(5). 

7See Securities Exchange Act Release No. 58457 

(September 3, 2008), 73 FR 52711 (September 10, 

2008) (SR–NYSEArca–2008–91) (Listing of fourteen 

funds of the Currency and Commodity Trust 

pursuant to Rule 8.200, Commentary .02.) 

8 15 U.S.C. 78k–1(a)(1)(C)(iii). 

Federal Register on September 3, 2010.3

The Commission received no comments 

on the proposal. This order approves the 

proposed rule change. 

II. Description of the Proposal 

The Exchange proposes to list and 

trade the Shares pursuant to NYSE Arca 

Equities Rule 8.200, Commentary .02, 

which governs the listing and trading of 

Trust Issuer Receipts (‘‘TIRs’’) that invest 

in ‘‘Financial Instruments.’’ The 

Exchange represents that the Shares 

satisfy the requirements of NYSE Arca 

Equities Rule 8.200, Commentary .02, 

and thereby qualify for listing on the 

Exchange. 

As described in greater detail in the 

Notice, the Fund will invest 

substantially all of its assets in 

exchange-traded futures in commodities 

that comprise the Thomson Reuters/ 

Jefferies CRB 3 Month Forward Index 

(‘‘Index’’), or in other derivatives. The 

Fund establishes long positions in 

futures contracts on the nineteen 

physical commodities that comprise the 

Index (‘‘Index Commodities’’) with the 

goal of tracking the changes, either 

positive or negative, to the Index over 

time. The Managing Owner of the Fund 

adjusts the Fund’s portfolio from time to 

time to conform to periodic changes in 

the identity and/or relative weighting of 

the Index Commodities. 

The Exchange deems the Shares to be 

equity securities, which subjects trading 

in the Shares to the Exchange’s existing 

rules governing the trading of equity 

securities, and has represented that 

trading in the Shares on the Exchange 

will occur in accordance with NYSE 

Arca Equities Rule 8.200(e). The 

Exchange has also represented that it 

has appropriate rules to facilitate 

transactions in the Shares during all 

trading sessions. 

Additional details regarding the 

Shares and the Fund including, among 

other things, the organization and 

structure of the Fund, the dissemination 

and availability of information about the 

Fund and the Index, trading halts, 

applicable trading rules, surveillance, 

and the Information Bulletin can be 

found in the Notice.4

III. Discussion and Commission’s 

Findings 

After careful consideration, the 

Commission finds that the proposed 

rule change is consistent with the 

requirements of the Act and the rules 

and regulations thereunder applicable to 

a national securities exchange.5 In 

particular, the Commission finds that 

the proposed rule change is consistent 

with the requirements of Section 6(b)(5) 

of the Act,6 which requires, among other 

things, that the Exchange’s rules be 

designed to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in facilitating transactions in securities, 

to remove impediments to and perfect 

the mechanism of a free and open 

market and a national market system, 

and, in general, to protect investors and 

the public interest. 

The Commission notes that it has 

previously permitted the listing and 

trading of TIRs based on commodities 

indexes.7 In addition, the Shares will be 

listed and traded pursuant to 

Commentary .02 to NYSE Arca Equities 

Rule 8.200, and the Exchange represents 

that the Shares will conform to the 

existing initial and continued listing 

criteria under this rule. 

In addition, the Commission finds 

that the proposal to list and trade the 

Shares on the Exchange is consistent 

with Section 11A(a)(1)(C)(iii) of the 

Act,8 which sets forth Congress’ finding 

that it is in the public interest and 

appropriate for the protection of 

investors and the maintenance of fair 

and orderly markets to assure the 

availability to brokers, dealers and 

investors of information with respect to 

quotations for and transactions in 

securities. 

Quotation and last-sale information 

for the Shares will be disseminated 

through the facilities of the 

Consolidated Tape Association. The 

Intra-day Indicative Value (‘‘IIV’’) will be 

published by the Fund’s Index 

Calculation Agent every 15 seconds 

through one or more major market data 

vendors and on the Fund’s Managing 

Owner’s Web site. The Net Asset Value 

(‘‘NAV’’) of the Fund will be published 

by the Managing Owner of the Fund, 

and will be disseminated to all market 

participants at the same time. The 

Exchange has also noted that 

information regarding the closing prices 

and settlement prices of futures on the 

Index Commodities are readily available 

from Web sites of the applicable futures 

exchanges, automated quotation 

systems, published or other public 

sources, or online information services 

such as Bloomberg or Reuters. The 

relevant futures exchanges also provide 

delayed futures information on current 

and past trading sessions and market 

news free of charge on their respective 

Web sites. Moreover, the Fund’s Web 

site (http://www.jamfunds.com/jcis) will 

also disseminate the Fund holdings on 

a daily basis. 

The Exchange shall make available on 

its Web site daily trading volume of the 

Shares, closing prices of the Shares, and 

the corresponding NAV. In addition, the 

Fund’s website will provide the 

following information: (1) The current 

net asset value per share daily and the 

prior business day’s NAV and the 

reported closing price; (2) the mid-point 

of the bid-ask price in relation to the 

NAV as of the time the NAV is 

calculated; (3) a calculation of the 

premium or discount of such price 

against such NAV; (4) data in chart 

format displaying the frequency 

distribution of discounts and premiums 

of the Bid/Ask Price against the NAV, 

within appropriate ranges, for each of 

the four previous calendar quarters; (5) 

the Fund’s prospectus; and (6) other 

applicable quantitative information. 

The Commission further believes that 

the proposal to list and trade the Shares 

is reasonably designed to promote fair 

disclosure of information that may be 

necessary to price the Shares 

appropriately and to prevent trading 

when a reasonable degree of 

transparency cannot be assured. The 

Exchange has represented that the NAV 

for the Fund will be disseminated to all 

market participants at the same time. If 

the Exchange becomes aware that the 

NAV with respect to the Shares is not 

being disseminated to all market 

participants at the same time, it will halt 

trading in the Shares until such time as 

the NAV is available to all market 

participants. Furthermore, the Exchange 

has represented that it may halt trading 

during the day in which the 

interruption to the dissemination of the 

IIV, the Index or the value of the 

underlying futures occurs. 

With respect to trading halts, the 

Exchange may consider all relevant 

factors in exercising its discretion to 

halt or suspend trading in the Shares. 

Trading on the Exchange in the Shares 

may be halted because of market 

conditions or for reasons that, in the 

view of the Exchange, make trading in 

the Shares inadvisable. These may 

include: (1) The extent to which trading 

is not occurring in the underlying 

futures contracts; or (2) whether other 

unusual conditions or circumstances 

detrimental to the maintenance of a fair 

mstockstill on DSKH9S0YB1PROD with NOTICES

63532 Federal Register / Vol. 75, No. 199 / Friday, October 15, 2010 / Notices 

9 15 U.S.C. 78f(b)(5). 

10 15 U.S.C. 78s(b)(2). 11 17 CFR 200.30–3(a)(12). 

and orderly market are present. In 

addition, trading in Shares will be 

subject to trading halts caused by 

extraordinary market volatility pursuant 

to the Exchange’s ‘‘circuit breaker’’ rule 

or by the halt or suspension of trading 

in the underlying futures contracts. 

In addition, NYSE Arca Equities Rule 

8.200(e) sets forth certain requirements 

for ETP Holders acting as registered 

Market Makers in the Shares to facilitate 

surveillance. 

In support of this proposal, the 

Exchange has made representations, 

including: 

(1) The Fund will meet the initial and 

continued listing criteria under NYSE 

Arca Equities Rule 8.200, Commentary 

.02. 

(2) The Exchange’s surveillance 

procedures are adequate to properly 

monitor Exchange trading of the Shares 

in all trading sessions and to deter and 

detect violations of Exchange rules and 

applicable Federal securities laws. 

(3) Prior to the commencement of 

trading, the Exchange will inform its 

ETP Holders in an Information Bulletin 

of the special characteristics and risks 

associated with trading the Shares. 

Specifically, the Information Bulletin 

will discuss the following: (a) The risks 

involved in trading the Shares during 

the Opening and Late Trading Sessions 

when an updated IIV will not be 

calculated or publicly disseminated; (b) 

the procedures for purchases and 

redemptions of Shares in Baskets 

(including noting that Shares are not 

individually redeemable); (c) NYSE 

Arca Equities Rule 9.2(a), which 

imposes a duty of due diligence on its 

ETP Holders to learn the essential facts 

relating to every customer prior to 

trading the Shares; (d) how information 

regarding the IIV is disseminated; (e) the 

requirement that ETP Holders deliver a 

prospectus to investors purchasing 

newly issued Shares prior to or 

concurrently with the confirmation of a 

transaction; and (f) trading information. 

This approval order is based on the 

Exchange’s representations. 

For the foregoing reasons, the 

Commission finds that the proposed 

rule change is consistent with Section 

6(b)(5) of the Act 9 and the rules and 

regulations thereunder applicable to a 

national securities exchange. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,10 that the 

proposed rule change (SR–NYSEArca– 

2010–78), be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–25949 Filed 10–14–10; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 7211] 

In the Matter of the Review of the 

Designation of the Armed Islamic 

Group and All Associated Aliases as 

Foreign Terrorist Organizations 

Pursuant to Section 219 of the 

Immigration and Nationality Act, as 

Amended 

Based upon a review of the 

Administrative Record assembled in 

this matter, and in consultation with the 

Attorney General and the Secretary of 

the Treasury, I conclude that the 

circumstances that were the basis for the 

2003 re-designation of the Armed 

Islamic Group (GIA) as foreign terrorist 

organization have changed in such a 

manner as to warrant revocation of the 

designation. Although the GIA no longer 

meets the criteria for designation as a 

foreign terrorist organization, its 

remnants and some senior leaders have 

joined al Qa’ida in the Islamic Maghreb 

(AQIM), a designated Foreign Terrorist 

Organization. 

Therefore, I hereby determine that the 

designation of the Armed Islamic Group 

as a foreign terrorist organization, 

pursuant to Section 219 of the 

Immigration and Nationality Act, as 

amended (8 U.S.C. 1189), shall be 

revoked. 

This determination shall be published 

in the Federal Register. 

Dated: September 28, 2010. 

Hillary Rodham Clinton, 

Secretary of State. 

[FR Doc. 2010–26082 Filed 10–14–10; 8:45 am] 

BILLING CODE 4710–10–P 

DEPARTMENT OF TRANSPORTATION 

Surface Transportation Board 

[Docket No. FD 35413] 

Lancaster & Chester Railroad, LLC— 

Acquisition and Operation 

Exemption—Line of Lancaster & 

Chester Railway Company 

Lancaster & Chester Railroad, LLC 

(L&C Railroad), a noncarrier, has filed a 

verified notice of exemption under 49 

CFR 1150.31 to acquire and operate 

approximately 62 miles of rail line 

owned by Class III rail carrier Lancaster 

& Chester Railway Company as follows: 

(1) Approximately 29 miles of rail line 

from Chester, S.C. (milepost 0.0) to 

Lancaster, S.C. (milepost 29.0), plus 

approximately 2 miles of connecting 

track from milepost 5.0 in Chester 

County, S.C., to the connection with 

Consolidated Rail Corporation at former 

Survey Station 0+06 (milepost SG– 

346+2210) of the Seaboard Coast Line 

Railroad Company in Chester County; 

and (2) approximately 31 miles of rail 

line from Kershaw, S.C. (milepost SB– 

58.7) to Catawba, S.C. (milepost SB– 

89.5) including, for each of the lines, 

related rail property and trackage. 

Because L&C Railroad’s projected 

annual revenues will exceed $5 million, 

L&C Railroad certified to the Board on 

August 30, 2010, that it had complied 

with the requirements of 49 CFR 

1150.32(e) providing for notice to 

employees and their labor unions on the 

affected line. L&C Railroad also certified 

that its projected revenues as a result of 

this transaction will not exceed those 

that would qualify it as a Class III 

carrier. 

This transaction is related to a 

concurrently filed verified notice of 

exemption in Docket No. FD 35414, Gulf 

& Ohio Railways Holding Co., Inc., H. 

Peter Claussen and Linda C. Claussen— 

Continuance in Control Exemption— 

Lancaster & Chester Railroad, LLC, 

wherein the above parties seek to 

continue in control of L&C Railroad, 

upon L&C Railroad’s becoming a Class 

III rail carrier. 

The transaction may be consummated 

on or after October 31, 2010 (the 

effective date of the exemption). 

If the verified notice contains false or 

misleading information, the exemption 

is void ab initio. Petitions to revoke the 

exemption under 49 U.S.C. 10502(d) 

may be filed at any time. The filing of 

a petition to revoke will not 

automatically stay the effectiveness of 

the exemption. Petitions for stay must 

be filed no later than October 22, 2010 

(at least 7 days before the exemption 

becomes effective). 

An original and 10 copies of all 

pleadings, referring to Docket No. FD 

35413, must be filed with the Surface 

Transportation Board, 395 E Street, SW., 

Washington, DC 20423–0001. In 

addition, a copy of each pleading must 

be served on Troy W. Garris, 2904 

Corporate Cir., Flower Mound, TX. 

75028. 

Board decisions and notices are 

available on our Web site at http:// 

www.stb.dot.gov. 

Decided: October 7, 2010. 

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