30340 Federal Register / Vol. 74, No. 121 / Thursday, June 25, 2009 / Notices 

23 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4An Investment Company Unit is a security that 

represents an interest in a registered investment 

company that holds securities comprising, or 

otherwise based on or representing an interest in, 

an index or portfolio of securities (or holds 

securities in another registered investment 

company that holds securities comprising, or 

otherwise based on or representing an interest in, 

an index or portfolio of securities). See NYSE Arca 

Equities Rule 5.2(j)(3)(A). 

5See the Trust’s Registration Statement for the 

Fund on Form N–1A, dated June 17, 2009 (File Nos. 

333–92935 and 811–09729). 

6The Exchange states that the Index fails to meet 

the requirement of Commentary .01(a)(B)(2) to 

NYSE Arca Equities Rule 5.2(j)(3) that component 

stocks that in the aggregate account for at least 90% 

of the weight of the index each shall have a 

minimum monthly trading volume of at least 

250,000 shares. The Exchange states that, as of May 

31, 2009, component stocks that in the aggregate 

account for 86.23% of the Index weight had a 

minimum monthly trading volume of at least 

250,000 shares. 

7 17 CFR 240.10A–3. 

8 15 U.S.C. 78a. 

9The Exchange may obtain information for 

surveillance purposes via the Intermarket 

Surveillance Group (‘‘ISG’’) from other exchanges 

who are members of ISG. The Exchange notes that 

the Index component stocks do not trade on 

markets that are ISG members and the Exchange 

does not have a comprehensive surveillance 

agreement with such markets. For a list of the 

current members of ISG, see http:// 

www.isgportal.org. 

Number SR–NYSE–2009–45 and should 

be submitted on or before July 16, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–14956 Filed 6–24–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60137; File No. SR– 

NYSEArca–2009–54] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Relating to the Listing 

and Trading of Shares of the iShares®

MSCI All Peru Capped Index Fund 

June 18, 2009. 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on June 17, 

2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘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 list and 

trade shares (‘‘Shares’’) of the following 

fund of the iShares® Trust (‘‘Trust’’): 

iShares® MSCI All Peru Capped Index 

Fund (‘‘Fund’’). The text of the 

proposed rule change is available on the 

Exchange’s Web site at http:// 

www.nyse.com, at the Exchange’s 

principal office and at the Public 

Reference Room of the Commission. 

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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to list and 

trade the Shares of the following fund 

under NYSE Arca Equities Rule 5.2(j)(3), 

the Exchange’s listing standards for 

Investment Company Units (‘‘ICUs’’):4

iShares® MSCI All Peru Capped Index 

Fund.5

According to the Registration 

Statement, the Fund seeks investment 

results that correspond generally to the 

price and yield performance, before fees 

and expenses, of the MSCI All Peru 

Capped Index (the ‘‘Index’’). 

The Index is sponsored by MSCI, Inc., 

the Index Provider, that is independent 

of the Fund and Barclays Global Fund 

Advisors, the investment adviser to the 

Fund. The Index Provider determines 

the composition and relative weightings 

of the securities in the Index and 

publishes information regarding the 

market value of the Index. 

The Index is a free float-adjusted 

market capitalization index with 

approximately 25 components. Any 

single security with a free float-adjusted 

market capitalization weight greater 

than 22.5% will have its weight capped 

in the Index at 22.5%. All single 

securities with a weight greater than 

4.5% will have their weights capped 

such that, in the aggregate, these 

securities do not have a weight greater 

than 45% of the Index. The Index is 

designed to measure the performance of 

the ‘‘Broad Peru Equity Universe.’’ 

MSCI defines the Broad Peru Equity 

Universe by identifying Peruvian equity 

securities that are classified in Peru 

according to the MSCI Global Investable 

Market Indices Methodology (a 

methodology employed by MSCI to 

construct its Global Investable Market 

Indices, which classifies eligible 

securities according to their country of 

listing) as well as securities of 

companies that are headquartered in 

Peru and have the majority of their 

operations based in Peru. As of May 31, 

2009, the Index’s three largest 

constituents were Compania de Minas 

Buenaventura S.A., Southern Copper 

Corporation, and Credicorp Ltd. 

The Exchange is submitting this 

proposed rule change because the Index 

for the Fund does not meet all of the 

‘‘generic’’ listing requirements of 

Commentary .01(a)(B) to NYSE Arca 

Equities Rule 5.2(j)(3) applicable to 

listing of ICUs based on international or 

global indexes. The Index meets all such 

requirements except for those set forth 

in Commentary .01(a)(B)(2).6 The 

Exchange represents that: (1) Except for 

the requirement under Commentary 

.01(a)(B)(2) to NYSE Arca Equities Rule 

5.2(j)(3) that component stocks that in 

the aggregate account for at least 90% of 

the weight of the index each shall have 

a minimum monthly trading volume 

during each of the last six months of at 

least 250,000 shares, the Shares of the 

Fund currently satisfy all of the generic 

listing standards under NYSE Arca 

Equities Rule 5.2(j)(3); (2) the continued 

listing standards under NYSE Arca 

Equities Rules 5.2(j)(3) and 5.5(g)(2) 

applicable to ICUs shall apply to the 

Shares; and (3) the Trust is required to 

comply with Rule 10A–3 7 under the 

Securities Exchange Act of 1934 

(‘‘Act’’) 8 for the initial and continued 

listing of the Shares. In addition, the 

Exchange represents that the Shares will 

comply with all other requirements 

applicable to ICUs including, but not 

limited to, requirements relating to the 

dissemination of key information such 

as the Index value and Intraday 

Indicative Value, rules governing the 

trading of equity securities, trading 

hours, trading halts, surveillance,9 and 

Information Bulletin to ETP Holders, as 

set forth in Exchange rules applicable to 

ICUs and in prior Commission orders 


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Federal Register / Vol. 74, No. 121 / Thursday, June 25, 2009 / Notices 30341 

10See, e.g., Securities Exchange Act Release No. 

55621 (April 12, 2007), 72 FR 19571 (April 18, 

2007) (SR–NYSEArca–2006–86) (order approving 

generic listing standards for ICUs based on 

international or global indexes); Securities 

Exchange Act Release No. 44551 (July 12, 2001), 66 

FR 37716 (July 19, 2001) (SR–PCX–2001–14) (order 

approving generic listing standards for ICUs and 

Portfolio Depositary Receipts); Securities Exchange 

Act Release No. 41983 (October 6, 1999), 64 FR 

56008 (October 15, 1999) (SR–PCX–98–29) (order 

approving rules for listing and trading of ICUs). 

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

12 15 U.S.C. 78f(b)(5). 

13 15 U.S.C. 78s(b)(3)(A). 

14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

provide the Commission with 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 satisfied this requirement. 

15 17 CFR 240.19b–4(f)(6). 

16 17 CFR 240.19b–4(f)(6)(iii). 

17Compare the Index with the MSCI All Peru 

Index, which is described in Securities Exchange 

Act Release No. 59471 (February 27, 2009), 74 FR 

9862 (March 6, 2009). 

18For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition 

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

approving the generic listing rules 

applicable to the listing and trading of 

ICUs.10

Detailed descriptions of the Fund, the 

Index, the Index Provider, procedures 

for creating and redeeming Shares, 

transaction fees and expenses, risks, 

dividends, distributions, taxes, and 

reports to be distributed to beneficial 

owners of the Shares can be found in 

the Trust’s Registration Statement or on 

the Web site for the Fund (http:// 

www.ishares.com), as applicable. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 11 of the 

Act, in general, and furthers the 

objectives of Section 6(b)(5),12 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 

proposed rule change will allow the 

listing and trading of the Fund on the 

Exchange, which the Exchange believes 

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 

Because the foregoing proposed rule 

change: (1) Does not significantly affect 

the protection of investors or the public 

interest; (2) does not impose any 

significant burden on competition; and 

(3) by its terms does not become 

operative for 30 days after the date of 

this filing, 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) 13 of the Act and 

subparagraph (f)(6) of Rule 19b–4 14

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 15 normally does not 

become operative for 30 days after the 

date of filing. However, Rule 19b– 

4(f)(6)(iii),16 permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange requests that the Commission 

waive the 30-day operative delay so that 

the proposal may become operative 

immediately upon filing. The Exchange 

states that the proposed rule change 

does not significantly affect the 

protection of investors or the public 

interest and does not impose any 

significant burden on competition. 

The Commission believes waiving the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest. Recently, NYSE Arca 

proposed to list another series of ICUs 

based on an index that is very similar 

to the Index.17 The Commission believes 

that the listing and trading of the Shares 

do not present any novel or significant 

issues or impose any significant burden 

on competition, and that waiving the 

30-day operative delay will benefit the 

market and investors by providing 

market participants with additional 

investing choices. For the reasons 

described above, the Commission 

designates the proposal to be effective 

and operative upon filing with the 

Commission.18

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

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 

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–2009–54 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–2009–54. 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 inspection and copying 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 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–2009–54 and 


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30342 Federal Register / Vol. 74, No. 121 / Thursday, June 25, 2009 / Notices 

19 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4 15 U.S.C. 78s(b)(3)(A). 

5 17 CFR 240.19b–4(f)(6). 

6See SR–NYSE–2009–45 (filed June 8, 2009). 

7See Securities Exchange Act Release No. 58673 

(September 29, 2008), 73 FR 57707 (October 3, 

2008) (SR–NYSE–2008–60 and SR–Amex 2008–62) 

(approving the Merger). 

8 15 U.S.C. 78f. 

9See Securities Exchange Act Release No. 58705 

(October 1, 2008), 73 FR 58995 (October 8, 2008) 

(SR–Amex 2008–63) (approving the Equities 

Relocation). 

10See Securities Exchange Act Release No. 58705 

(October 1, 2008), 73 FR 58995 (October 8, 2008) 

(SR–Amex 2008–63) (approving the Equities 

Relocation); Securities Exchange Act Release No. 

58833 (October 22, 2008), 73 FR 64642 (October 30, 

2008) (SR–NYSE–2008–106) and Securities 

Exchange Act Release No. 58839 (October 23, 2008), 

73 FR 64645 (October 30, 2008) (SR–NYSEALTR– 

2008–03) (implementing the Bonds Relocation); 

Securities Exchange Act Release No. 59022 

(November 26, 2008), 73 FR 73683 (December 3, 

2008) (SR–NYSEALTR–2008–10) (adopting 

amendments to NYSE Amex Equities Rules to track 

changes to corresponding NYSE Rules); Securities 

Exchange Act Release No. 59027 (November 28, 

2008), 73 FR 73681 (December 3, 2008) (SR– 

NYSEALTR–2008–11) (adopting amendments to 

Rule 62—NYSE Amex Equities to track changes to 

corresponding NYSE Rule 62). 

11See NYSE Amex Equities Rule 124(a). 

12 Id. Odd-lot orders are in effect netted against 

one another and executed; however, since the DMM 

is buying the same amount that he or she is selling, 

there is no economic consequence to the DMM in 

this type of pairing-off of orders. Any imbalance of 

buy or sell odd-lot market orders are executed 

should be submitted on or before July 

16, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority. 19

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–14972 Filed 6–24–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60139; File No. SR– 

NYSEAmex–2009–18] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC Amending NYSE Amex 

Equities Rule 124 To Clarify the Pricing 

Methodology for the Odd-Lot Portion 

of a Part of a Round-Lot Order; Clarify 

the Systems Capable of Accepting PRL 

Orders; and Clarify the Systems 

Capable of Accepting a Good ‘Til 

Cancelled Order During the 

Implementation of Exchange System 

Enhancements 

June 18, 2009. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on June 8, 

2009, NYSE Amex LLC (the ‘‘Exchange’’ 

or ‘‘NYSE Amex’’) 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 self-regulatory organization. 

NYSE Amex filed the proposed rule 

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

of the Act 4 and Rule 19b–4(f)(6) 

thereunder,5 which renders it effective 

upon filing with the Commission. 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: (i) Amend 

NYSE Amex Equities Rule 124 (Odd-Lot 

Orders) to clarify the pricing 

methodology for the odd-lot portion of 

a part of a round-lot (‘‘PRL’’) order; (ii) 

clarify the systems capable of accepting 

PRL orders; and (iii) clarify the systems 

capable of accepting a Good ‘Til 

Cancelled Order (‘‘GTC’’) during the 

implementation of Exchange system 

enhancements. 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

NYSE Amex LLC (‘‘NYSE Amex’’ or 

‘‘the Exchange’’), formerly the American 

Stock Exchange LLC, proposes to: (i) 

Amend NYSE Amex Equities Rule 124 

(Odd-Lot Orders) to clarify the pricing 

methodology for the odd-lot portion of 

a part of a round-lot (‘‘PRL’’) order; (ii) 

clarify the systems capable of accepting 

PRL orders; and (iii) clarify the systems 

capable of accepting a Good ‘Til 

Cancelled Order (‘‘GTC’’) during the 

implementation of Exchange system 

enhancements. The text of the proposed 

rule change is attached hereto as Exhibit 

5. 

The Exchange notes that parallel 

changes are proposed to be made to the 

rules of the New York Stock Exchange 

LLC (‘‘NYSE’’).6

I. Background 

As described more fully in a related 

rule filing,7 NYSE Euronext acquired 

The Amex Membership Corporation 

(‘‘AMC’’) pursuant to an Agreement and 

Plan of Merger, dated January 17, 2008 

(the ‘‘Merger’’). In connection with the 

Merger, the Exchange’s predecessor, the 

American Stock Exchange LLC 

(‘‘Amex’’), a subsidiary of AMC, became 

a subsidiary of NYSE Euronext now 

called NYSE Amex LLC, and continues 

to operate as a national securities 

exchange registered under Section 6 of 

the Securities Exchange Act of 1934, as 

amended (the ‘‘Act’’).8 The effective 

date of the Merger was October 1, 2008. 

In connection with the Merger, on 

December 1, 2008, the Exchange 

relocated all equities trading conducted 

on the Exchange legacy trading systems 

and facilities located at 86 Trinity Place, 

New York, New York, to trading systems 

and facilities located at 11 Wall Street, 

New York, New York (the ‘‘Equities 

Relocation’’). The Exchange’s equity 

trading systems and facilities at 11 Wall 

Street (the ‘‘NYSE Amex Trading 

Systems’’) are operated by the NYSE on 

behalf of the Exchange.9

As part of the Equities Relocation, 

NYSE Amex adopted NYSE Rules 1– 

1004, subject to such changes as 

necessary to apply the Rules to the 

Exchange, as the NYSE Amex Equities 

Rules to govern trading on the NYSE 

Amex Trading Systems.10 The NYSE 

Amex Equities Rules, which became 

operative on December 1, 2008, are 

substantially identical to the current 

NYSE Rules 1–1004 and the Exchange 

continues to update the NYSE Amex 

Equities Rules as necessary to conform 

with rule changes to corresponding 

NYSE Rules filed by the NYSE. 

II. Background of NYSE Amex Equities 

Rule 124 

Currently, odd-lot orders on the 

Exchange are processed and executed 

systemically by an Exchange system 

designated solely for odd-lot orders (the 

‘‘Odd-lot System’’).11 The Odd-lot 

System executes all odd-lot orders 

against the Designated Marker Maker 

(‘‘DMM’’) as the contra party.12


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