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Federal Register / Vol. 70, No.

195 / Tuesday, October 11, 2005 / Notices 59099

III. Solicitation of Comments SECURITIES AND EXCHANGE Electronic Comments


COMMISSION • Send an e-mail to rule-
Interested persons are invited to
submit written data, views, and [File No. 1–10382] comments@sec.gov. Please include the
arguments concerning the foregoing, File Number 1–10382 or;
including whether Nasdaq’s Issuer Delisting; Notice of Application
Paper Comments
of Valley Forge Scientific Corp. To
Amendment Nos. 4 and 5 to its Form 1 • Send paper comments in triplicate
Withdraw Its Common Stock, No Par
are consistent with the Act. Comments to Jonathan G. Katz, Secretary,
Value, From Listing and Registration
may be submitted by any of the Securities and Exchange Commission,
on the Boston Stock Exchange, Inc.
following methods: 100 F Street, NE., Washington, DC
October 4, 2005. 20549–9303.
Electronic Comments
On September 16, 2005, Valley Forge All submissions should refer to File
• Use the Commission’s Internet Scientific, Corp., a Pennsylvania Number 1–10382. This file number
comment form (http://www.sec.gov/ corporation (‘‘Issuer’’), filed an should be included on the subject line
rules/sro.shtml); or application with the Securities and if e-mail is used. To help us process and
Exchange Commission (‘‘Commission’’), review your comments more efficiently,
• Send an e-mail to rule- pursuant to Section 12(d) of the
comments@sec.gov. Please include File please use only one method. The
Securities Exchange Act of 1934 Commission will post all comments on
Number 10–131 on the subject line. (‘‘Act’’) 1 and Rule 12d2–2(d) the Commission’s Internet Web site
Paper Comments thereunder,2 to withdraw its common (http://www.sec.gov/rules/delist.shtml).
stock, no par value (‘‘Security’’), from Comments are also available for public
• Send paper comments in triplicate listing and registration on the Boston inspection and copying in the
to Jonathan G. Katz, Secretary, Stock Exchange, Inc. (‘‘BSE’’). Commission’s Public Reference Room.
Securities and Exchange Commission, The Board of Directors (‘‘the Board’’) All comments received will be posted
Station Place, 100 F Street, NE., of the Issuer approved resolutions on without change; we do not edit personal
Washington, DC 20549–9303. September 12, 2005 to withdraw the identifying information from
All submissions should refer to File Security from listing on BSE. The Issuer submissions. You should submit only
Number 10–131. This file number stated that the Board decided to information that you wish to make
should be included on the subject line withdraw the Security from BSE for the available publicly.
if e-mail is used. To help the following reasons: (i) The Security has The Commission, based on the
Commission process and review your been, and expects to continue to be, information submitted to it, will issue
comments more efficiently, please use traded on The Nasdaq SmallCap Market an order granting the application after
(‘‘Nasdaq’’); and (ii) additionally, the the date mentioned above, unless the
only one method. The Commission will
Security has not been actively traded on Commission determines to order a
post all comments on the Commission’s
BSE during the last ten years. Therefore, hearing on the matter.
Internet Web site (http://www.sec.gov/
the Board determined to delist the
rules/other.shtml). Copies of the For the Commission, by the Division of
Security from BSE for administrative
submission, all subsequent Market Regulation, pursuant to delegated
efficiency.
amendments, all written statements authority.5
The Issuer stated in its application
with respect to Nasdaq’s Form 1 filed Jonathan G. Katz,
that it has complied with applicable
with the Commission, and all written Secretary.
rules of BSE by complying with all
communications relating to the [FR Doc. E5–5559 Filed 10–7–05; 8:45 am]
applicable laws in the Commonwealth
proposed rule change between the
of Pennsylvania, the State in which the BILLING CODE 8010–01–P
Commission and any person, other than
Issuer is incorporated, and by providing
those that may be withheld from the
BSE with the required documents
public in accordance with the SECURITIES AND EXCHANGE
governing the withdrawal of securities
provisions of 5 U.S.C. 552, will be COMMISSION
from listing and registration on BSE.
available for inspection and copying in
The Issuer’s application relates solely to
the Commission’s Public Reference Sunshine Act Meeting
the withdrawal of the Security from
Room. All comments received will be
listing on BSE and from registration FEDERAL REGISTER CITATION OF PREVIOUS
posted without change; the Commission
under Section 12(b) of the Act,3 and ANNOUNCEMENT: [To be published].
does not edit personal identifying
shall not affect its obligation to be
information from submissions. You STATUS: Closed meeting.
registered under Section 12(g) of the
should submit only information that PLACE: 100 F Street, NE., Washington,
Act.4
you wish to make available publicly. Any interested person may, on or DC.
The Commission requests that before October 28, 2005 comment on the ANNOUNCEMENT OF ADDITIONAL MEETING:
commenters focus on issues raised in facts bearing upon whether the Additional meeting.
Nasdaq’s Form 1, File No. 10–131, when application has been made in An additional Closed Meeting has
submitting comments on this notice. All accordance with the rules of BSE, and been scheduled for Wednesday, October
submissions should refer to File what terms, if any, should be imposed 12, 2005 at 9 a.m.
Number 10–131 and should be by the Commission for the protection of Commissioners and certain staff
submitted on or before November 10, investors. All comment letters may be members who have an interest in the
2005. submitted by either of the following matter will attend the closed meeting.
By the Commission. methods: The General Counsel of the
Commission, or his designee, has
Jonathan G. Katz,
1 15 U.S.C. 78l(d). certified that, in his opinion, one or
Secretary. 2 17 more of the exemptions set forth in 5
CFR 240.12d2–2(d).
[FR Doc. 05–20314 Filed 10–7–05; 8:45 am] 3 15 U.S.C. 78l(b).

BILLING CODE 8010–01–P 4 15 U.S.C. 78l(g). 5 17 CFR 200.30–3(a)(1).

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

U.S.C. 552b(c)(5), (7), (9)(B) and (10) ‘‘Trust’’): Ultra500 Fund; Ultra100 Funds’’)—seek daily investment results,
and 17 CFR 200.402(a)(5), (7), 9(ii) and Fund; Ultra30 Fund; UltraMid-Cap 400 before fees and expenses, that
(10) permit consideration of the Fund; Short500 Fund; Short100 Fund; correspond to twice (200%) the daily
scheduled matter at the closed meeting. Short30 Fund; and ShortMid-Cap 400 performance of the Standard and Poor’s
Commissioner Nazareth, as duty Fund (the ‘‘Funds’’). On March 4, 2005, 500 Index (‘‘S&P 500’’), the Nasdaq-
officer, determined that no earlier notice the Exchange filed Amendment No. 1.3 100 Index (‘‘Nasdaq 100’’), the Dow
thereof was possible. On May 9, 2005, the Exchange filed Jones Industrial AverageSM (‘‘DJIA’’),
The subject matter of the Closed Amendment No. 2.4 The Exchange filed and the S&P MidCap400TM Index (‘‘S&P
Meeting will be: Institution and Amendment No. 3 on August 1, 2005.5 MidCap’’), respectively. (These indexes
settlement of an injunctive action. The proposed rule change, as amended, are referred to herein as ‘‘Underlying
At times, changes in Commission was published for comment in the Indexes’’.) 9 Each of these Funds, if
priorities require alterations in the Federal Register on August 9, 2005.6 successful in meeting its objective,
scheduling of meeting items. For further The Commission received no comments should gain, on a percentage basis,
information and to ascertain what, if on the proposal. On September 15, approximately twice as much as the
any, matters have been added, deleted 2005, the Exchange filed Amendment Fund’s Underlying Index when the
or postponed, please contact: No. 4.7 This order approves the prices of the securities in such Index
The Office of the Secretary at (202) proposed rule change as amended. increase on a given day and should lose
551–5400. Simultaneously, the Commission approximately twice as much when
Dated: October 5, 2005. provides notice of, and grants such prices decline on a given day. In
Jonathan G. Katz, accelerated approval to, Amendment addition, four other Funds—the
Secretary. No. 4. Short500, Short100, Short30, and
[FR Doc. 05–20389 Filed 10–6–05; 11:37 am] ShortMid-Cap400 Funds (the ‘‘Bearish
II. Description of Proposed Rule Change
BILLING CODE 8010–01–P
Funds’’)—seek daily investment results,
As set forth in the Notice, the before fees and expenses, which
Exchange proposes to amend Rule correspond to the inverse or opposite of
SECURITIES AND EXCHANGE 1000A and related Commentary .02 to the daily performance (¥100%) of the
COMMISSION accommodate the listing of Index Fund S&P 500, Nasdaq-100, DJIA, and S&P
Shares that seek to provide investment MidCap, respectively.10 If each of these
[Release No. 34–52553; File No. SR–Amex– results that exceed the daily Funds is successful in meeting its
2004–62] performance of a specified stock index objective, the net asset value (the
by a specified percentage (e.g., equal to ‘‘NAV’’) 11 of Shares of each Fund
Self-Regulatory Organizations; 200 percent of the index value) or that should increase approximately as much,
American Stock Exchange LLC; Order
seek to provide investment results that on a percentage basis, as the respective
Granting Approval to Proposed Rule correspond to the inverse or opposite of Underlying Index loses when the prices
Change and Amendment Nos. 1, 2, and
the index’s daily performance.8 of the securities in the Index decline on
3 and Notice of Filing and Order The Exchange proposes to list, under
Granting Accelerated Approval of a given day, or should decrease
amended Rule 1000A, the shares of the approximately as much as the respective
Amendment No. 4 Relating to Listing Funds (‘‘Shares’’). Four of the Funds—
and Trading of Shares of the Index gains when the prices of the
the Ultra500, Ultra100, Ultra30, and securities in the index rise on a given
xtraShares Trust UltraMid-Cap400 Funds (the ‘‘Bullish day.
October 3, 2005. ProFunds Advisors LLC is the
3 In Amendment No. 1, the Exchange modified

I. Introduction investment adviser (the ‘‘Advisor’’) to


the proposed rule text and accompanying
description. Amendment No. 1 replaced Amex’s each Fund. The Advisor is registered
On August 2, 2004, the American original submission in its entirety. under the Investment Advisers Act of
Stock Exchange LLC (‘‘Amex’’ or 4 In Amendment No. 2, the Exchange clarified the

‘‘Exchange’’) filed with the Securities portfolio investment methodology and made certain 9 Exchange-traded funds (‘‘ETFs’’) based on each

and Exchange Commission other clarifications to the description of the of the Underlying Indexes are listed and/or traded
proposal. on the Exchange. See Securities Exchange Act
(‘‘Commission’’), pursuant to Section 5 In Amendment No. 3, the Exchange provided
Release Nos. 31591 (December 11, 1992), 57 FR
19(b)(1) 1 of the Securities Exchange Act additional details regarding the disclosure of the 60253 (December 18, 1992) (S&P 500 SPDR); 39143
of 1934 (‘‘Act’’ or ‘‘Exchange Act’’) and portfolio holdings of the Fund Shares and made (September 29, 1997), 62 FR 51917 (October 3,
Rule 19b–4 thereunder,2 a proposed rule certain other minor corrections to the rule text and 1997) (DIAMONDS); 41119 (February 26, 1999), 64
change to amend Amex Rule 411 (‘‘Duty proposal. Amendment No. 3 replaced Amex’s FR 11510 (March 9, 1999) (QQQ); and 35689 (May
earlier submissions in their entirety. 8, 1995), 60 FR 26057 (May 16, 1995) (S&P MidCap
to Know and Approve Customers’’) and 6 See Securities Exchange Act Release No. 52197 400). The Statement of Additional Information
Rule 1000A (‘‘Index Fund Shares’’) and (August 2, 2005), 70 FR 46228 (‘‘Notice’’). (‘‘SAI’’) for the Funds discloses that each Fund
related Commentary .02 to 7 In Amendment No. 4, the Amex clarified that reserves the right to substitute a different Index.
accommodate the listing of Index Fund Authorized Participants (‘‘APs’’), as defined in the Substitution could occur if the Index becomes
proposal, who create and redeem Index Fund unavailable, no longer serves the investment needs
Shares that seek to provide investment of shareholders, the Fund experiences difficulty in
Shares, will deposit and receive only stock and/or
results that exceed the performance of a cash, not other financial instruments. achieving investment results that correspond to the
securities index by a specified 8 Amex Rules 1000A et seq. provide standards for Index, or for any other reason determined in good
percentage or that seek to provide the listing of Index Fund Shares, which are faith by the Board. In such instance, the substitute
securities issued by an open-end management index will attempt to measure the same general
investment results that correspond to market as the current index. Shareholders will be
investment company for exchange trading. These
the inverse or opposite of the index’s securities are registered under the Investment notified (either directly or through their
performance. The proposed rule change Company Act of 1940 (‘‘1940 Act’’), as well as the intermediary) in the event a Fund’s current index
will accommodate listing on the Exchange Act. Index Fund Shares are defined in is replaced. In the event a Fund substitutes a
Rule 1000A as securities based on a portfolio of different index, the Exchange will file a new Rule
Exchange of the following eight (8) 19b–4 filing with the Commission.
stocks or fixed income securities that seek to
funds of the xtraShares Trust (the provide investment results that correspond 10 Id.

generally to the price and yield of a specified 11 The NAV of each Fund is calculated and
1 15 U.S.C. 78s(b)(1). foreign or domestic stock index or fixed income determined each business day at the close of regular
2 17 CFR 240.19b–4. securities index. trading, typically 4:00 p.m. e.s.t.

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