Subject: Proposed Rule Change to List and Trade Shares of the JPM XF Physi

October 24, 2012

Chair Mary Schapiro
SEC Headquarters
100 F Street, NE
Washington, DC 20549
(202) 942-8088
e-mail: help@sec.gov

Re:

Proposed Rule Change to List and Trade Shares of the JPM XF Physical Copper Trust Pursuant to NYSE Arca Equities Rule 8.201; Release No. 34-67075; File No. SRNYSEArca- 2012-28

Dear Chair:

Americans for Financial Reform ("AFR") commented,

http://ourfinancialsecurity.org/blogs/wpcontent/ ourfinancialsecurity.org/uploads/2012/10/2AFR_Copper_ETF_Letter_Final.pdf, on the above-referenced notice of proposed rule change.

For the reason set forth, the Commission should deny the proposed rule change related to the proposed Trust. I hope that the comments set forth are helpful to the Commission in considering the proposed rule change.

Yours sincerely,
Robert E. Rutkowski

cc: House Minority Leadership