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Securities Act of 1934
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Re: |
Claymore MACROshares Oil Up Holding Trust |
Based on the facts presented in your letter, the Division will not recommend enforcement action to the Commission if Claymore MACROshares Oil Up Holding Trust, Claymore MACROshares Oil Down Holding Trust, Claymore MACROshares Oil Up Tradeable Trust, and Claymore MACROshares Oil Down Tradeable Trust comply with the certification requirements of Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as applicable, by providing certifications in the exact form of the certification provided in your letter.
This position is based on the representations made to the Division in your letter. Any different facts or conditions might require the Division to reach a different conclusion. This response expresses the Division's position on enforcement action only and does not express any legal conclusion on the question presented.
Sincerely,
Heather L. Maples
Special Counsel
The Incoming Letter is in Acrobat format.
http://www.sec.gov/divisions/corpfin/cf-noaction/2007/claymore033007-13a-14.htm
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