Claymore Canadian Financial Monthly Income ETF et al. - s. 1.1

Headnote

Certain mutual funds designated as exchange-traded funds for the purposes of OSC Rule 48-501.

Rules Cited

Ontario Securities Commission Rule 48-501 -- Trading During Distributions, Formal Bids and Share Exchange Transactions, s. 1.1.

IN THE MATTER OF

ONTARIO SECURITIES COMMISSION RULE 48-501 -- TRADING DURING DISTRIBUTIONS,

FORMAL BIDS AND SHARE EXCHANGE TRANSACTIONS (Rule)

AND

IN THE MATTER OF

CLAYMORE CANADIAN FINANCIAL MONTHLY INCOME ETF

CLAYMORE GLOBAL BALANCED GROWTH ETF

CLAYMORE GLOBAL BALANCED INCOME ETF

CLAYMORE S&P GLOBAL WATER ETF

CLAYMORE S&P/TSX CDN PREFERRED SHARE ETF

CLAYMORE S&P/TSX GLOBAL MINING ETF

HORIZONS BETAPRO S&P/TSX CAPPED ENERGY BEAR PLUS ETF

HORIZONS BETAPRO S&P/TSX CAPPED ENERGY BULL PLUS ETF

HORIZONS BETAPRO S&P/TSX CAPPED FINANCIALS BEAR PLUS ETF

HORIZONS BETAPRO S&P/TSX CAPPED FINANCIALS BULL PLUS ETF

HORIZONS BETAPRO S&P/TSX GLOBAL GOLD BEAR PLUS ETF

HORIZONS BETAPRO S&P/TSX GLOBAL GOLD BULL PLUS ETF

iSHARES CDN JANTZI SOCIAL INDEX FUND

iSHARES CDN RUSSELL 2000 INDEX -- CANADIAN DOLLAR HEDGED INDEX FUND

iSHARES CDN S&P/TSX SMALL CAP INDEX FUND

(collectively, the Funds)

DESIGNATION ORDER

Section 1.1

WHEREAS each of the Funds is listed on the Toronto Stock Exchange;

AND WHEREAS Market Regulation Services Inc. has designated, or intends to designate, each of the Funds as an Exchange-traded Fund for the purposes of the Universal Market Integrity Rules (UMIR);

AND WHEREAS the definition of "exchange-traded fund" in the Rule is substantially similar to the definition of Exchange-traded Fund in UMIR;

THE DIRECTOR HEREBY DESIGNATES each of the Funds as an exchange-traded fund for the purposes of the Rule.

Dated November 7, 2007