SECURITIES AND EXCHANGE COMMISSION (Release No. 34-53521; File No. SR-Amex-2005-072)
March 20, 2006
Self-Regulatory Organizations; American Stock Exchange LLC; Order Granting Approval of Proposed Rule Change and Amendment No. 1 Thereto Relating to the Listing and Trading of Shares of the iShares® Silver Trust
On June 30, 2005, the American Stock Exchange LLC (“Amex” or “Exchange”) filed
with the Securities and Exchange Commission (the “SEC” or “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 under Amex Rules 1200A et seq. iShares® Silver Trust
shares (the “Silver Shares” or “Shares”). 3 On September 15, 2005, the Exchange submitted
Amendment No. 1 to the proposed rule change.4 The proposed rule change, as amended, was
published for comment in the Federal Register on January 23, 2006.5 The Commission received
255 comment letters regarding the proposed rule change.6 On February 28, 2006, the Exchange
filed a response to these comments. 7 This order approves the proposed rule change, as amended.
15 U.S.C. 78s(b)(1). 17 CFR 240.19b-4. iShares® is a registered trademark of Barclays Global Investors, N.A.
Amendment No. 1 to the proposed rule change clarifies the valuation procedure that would be used by the Bank of New York to determine the daily value of the silver contained in the iShares® Silver Trust.
See Securities Exchange Act Release No. 53130 (January 17, 2006), 71 FR 3570 (January 23, 2006) (“Notice”).
These comment letters are available for review on the Commission’s Web site at http://www.sec.gov/rules/sro/amex/amex2005072.shtml.
See letter from Neal L Wolkoff, Chairman and Chief Executive Officer, Amex, to Nancy M. Morris, Secretary, Commission, dated February 28, 2006 (“Wolkoff Letter”).