Thursday, January 26, 2006

Shine on!

It’s coming. Despite roadblocks put up by the Silver Users Association, the Securities and Exchange Commission (SEC) in conjunction with the American Stock Exchange, has proposed new rules that will guide the trading of the upcoming silver exchange traded fund (ETF).

Let’s be clear – the proposed rule from the SEC governing trading of the silver ETF (Rule Change Relating to the Listing and Trading of Shares of the iShares® Silver Trust) should not be confused with the pending registration of iShares Silver Trust (SLV) shares with the SEC. These are separate matters. However the SEC action indicates the very clear intention of the SEC and AMEX to prepare for the eventual trading of the silver ETF. The proposed rule will take at least until February 7, 2006 to be approved, and possibly, it could be subject to further delays and/or changes.


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