UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.2) Reckson Associates Realty Corp. -------------------------------------------------------------------------------- (Name of Issuer) -------------------------------------------------------------------------------- Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 75621K106 -------------------------------------------------------------------------------- (CUSIP Number) Jeffrey Ruiz Deutsche Bank AG c/o Deutsche Bank Securities Inc. 60 Wall Street New York, NY 10005 (212) 250-3667 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 27, 2006 (Date of Event which Requires Filing of this Statement If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240.13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The Information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Cusip No. 066821109 ------=====--------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Deutsche Bank AG -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC (See Item 3) ----- -------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----- -------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Deutsche Bank AG is organized under the laws of the Federal Republic of Germany. ----- -------------------------------------------------------------------------- 7 SOLE VOTING POWER 8,184,849 ---------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 13,464 OWNED BY ---------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 8,184,849 ---------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 13,464 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,198,313 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.78% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON BK -------------------------------------------------------------------------------- Cusip No. 066821109 --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Deutsche Bank Securities Inc. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC (See Item 3) -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ---------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 13,464 OWNED BY ---------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 ---------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 13,464 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,464 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.02% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON BD -------------------------------------------------------------------------------- Item 1. Security and Issuer This statement on Schedule 13D (this "Statement") relates to shares of common stock, par value $0.01 per share (the "Shares"), of Reckson Associates Realty Corp. (the "Issuer"). The Issuer has its principal executive offices at 625 Reckson Plaza, Uniondale, New York 11556. Item 5. Interest in Securities of the Issuer (a) and (b) According to information filed by the Issuer with the Securities and Exchange Commission in its Form 10-Q for the quarter ended September 30, 2006, the number of Shares outstanding was 83,762,635 as of November 7, 2006. As of December 27, 2006, the reporting Person may have been deemed the beneficial owner of 8,198,315 Shares (approximately 9.78% of the total number of Shares outstanding). Deutsche Bank AG,London Branch 7,446,020 Deutsche Bank AG,London Branch (arbitrage) 738,829 Deutsche Bank Securities Inc. 13,464 (c) Transactions by the Reporting Person in the Shares effected during the past sixty days are set forth in Schedule 1 to this Schedule 13D, which is incorporated by reference herein. (d) Not applicable. (e) Not applicable.. SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct. Dated as of January 03, 2007 DEUTSCHE BANK AG By: /s/ Jeffrey A. Ruiz -------------------------- Name: Jeffrey A. Ruiz Title: Vice President DEUTSCHE BANK AG By: /s/ Pasquale Antolino -------------------------- Name: Pasquale Antolino Title: Assistant Vice President DEUTSCHE BANK SECURITIES INC. By: /s/ Margaret Adams -------------------------- Name: Margaret Adams Title: Director DEUTSCHE BANK SECURITIES INC. By: /s/ Jeffrey A. Ruiz -------------------------- Name: Jeffrey A. Ruiz Title: Vice President Schedule 1 - 60 Day Trade History Deutsche Bank AG DATE BUY/SELL QTY PRICE -------------------------------------------------------------------------------- 10/27/06 SELL 12 44.10 -------------------------------------------------------------------------------- 10/27/06 SELL 12 44.10 -------------------------------------------------------------------------------- 10/30/06 BUY 66 43.85 -------------------------------------------------------------------------------- 10/30/06 BUY 66 43.85 -------------------------------------------------------------------------------- 10/30/06 BUY 405,900 43.99 -------------------------------------------------------------------------------- 10/31/06 SELL 121 43.96 -------------------------------------------------------------------------------- 10/31/06 SELL 11 44.02 -------------------------------------------------------------------------------- 10/31/06 SELL 121 43.96 -------------------------------------------------------------------------------- 10/31/06 SELL 11 44.02 -------------------------------------------------------------------------------- 11/01/06 SELL 209 44.12 -------------------------------------------------------------------------------- 11/01/06 BUY 12 44.17 -------------------------------------------------------------------------------- 11/01/06 BUY 12 44.17 -------------------------------------------------------------------------------- 11/02/06 SELL 10,231 43.97 -------------------------------------------------------------------------------- 11/03/06 BUY 16 43.62 -------------------------------------------------------------------------------- 11/03/06 BUY 16 43.62 -------------------------------------------------------------------------------- 11/03/06 BUY 3,140 43.59 -------------------------------------------------------------------------------- 11/07/06 BUY 100,000 43.56 -------------------------------------------------------------------------------- 11/09/06 SELL 28 43.87 -------------------------------------------------------------------------------- 11/09/06 SELL 28 43.87 -------------------------------------------------------------------------------- 11/09/06 BUY 8,800 43.57 -------------------------------------------------------------------------------- 11/09/06 BUY 8,800 43.57 -------------------------------------------------------------------------------- 11/10/06 BUY 4 44.05 -------------------------------------------------------------------------------- 11/10/06 BUY 49 44.06 -------------------------------------------------------------------------------- 11/10/06 SELL 1 43.93 -------------------------------------------------------------------------------- 11/10/06 SELL 1 43.93 -------------------------------------------------------------------------------- 11/10/06 SELL 8,800 43.57 -------------------------------------------------------------------------------- 11/10/06 BUY 14,400 43.98 -------------------------------------------------------------------------------- 11/10/06 BUY 236,300 44.12 -------------------------------------------------------------------------------- 11/10/06 BUY 84,000 43.94 -------------------------------------------------------------------------------- 11/13/06 BUY 46 44.17 -------------------------------------------------------------------------------- 11/13/06 BUY 140 44.26 -------------------------------------------------------------------------------- 11/13/06 BUY 113 44.14 -------------------------------------------------------------------------------- 11/13/06 BUY 113 44.14 -------------------------------------------------------------------------------- 11/14/06 BUY 205 44.66 -------------------------------------------------------------------------------- 11/14/06 BUY 12,300 44.73 -------------------------------------------------------------------------------- 11/15/06 SELL 221 44.63 -------------------------------------------------------------------------------- 11/15/06 BUY 106 44.62 -------------------------------------------------------------------------------- 11/16/06 BUY 685 47.98 -------------------------------------------------------------------------------- 11/16/06 BUY 649 47.98 -------------------------------------------------------------------------------- 11/16/06 BUY 649 47.98 -------------------------------------------------------------------------------- 11/16/06 BUY 100,000 47.82 -------------------------------------------------------------------------------- 11/16/06 SELL 26,000 46.85 -------------------------------------------------------------------------------- 11/16/06 SELL 17,600 47.82 -------------------------------------------------------------------------------- 11/16/06 SELL 36,000 47.89 -------------------------------------------------------------------------------- 11/17/06 SELL 264 48.22 -------------------------------------------------------------------------------- 11/17/06 SELL 266 48.22 -------------------------------------------------------------------------------- 11/17/06 SELL 266 48.22 -------------------------------------------------------------------------------- 11/17/06 SELL 650,000 48.22 -------------------------------------------------------------------------------- 11/17/06 BUY 225,000 47.93 -------------------------------------------------------------------------------- 11/20/06 SELL 118,300 48.47 -------------------------------------------------------------------------------- 11/20/06 BUY 24 48.40 -------------------------------------------------------------------------------- 11/20/06 SELL 70 48.30 -------------------------------------------------------------------------------- 11/20/06 BUY 24 48.40 -------------------------------------------------------------------------------- 11/20/06 SELL 84 48.35 -------------------------------------------------------------------------------- 11/21/06 SELL 74,600 48.83 -------------------------------------------------------------------------------- 11/21/06 BUY 39 48.72 -------------------------------------------------------------------------------- 11/21/06 SELL 77 48.37 -------------------------------------------------------------------------------- 11/21/06 BUY 39 48.72 -------------------------------------------------------------------------------- 11/22/06 SELL 190,000 48.85 -------------------------------------------------------------------------------- 11/22/06 BUY 40 48.85 -------------------------------------------------------------------------------- 11/24/06 SELL 67,100 48.89 -------------------------------------------------------------------------------- 11/24/06 SELL 74 48.38 -------------------------------------------------------------------------------- 11/27/06 BUY 18 48.86 -------------------------------------------------------------------------------- 11/27/06 SELL 18,100 49.05 -------------------------------------------------------------------------------- 11/28/06 BUY 50,000 48.92 -------------------------------------------------------------------------------- 11/28/06 SELL 50,000 49.07 -------------------------------------------------------------------------------- 11/29/06 SELL 110 49.60 -------------------------------------------------------------------------------- 11/29/06 BUY 50,000 49.54 -------------------------------------------------------------------------------- 11/29/06 SELL 46,400 49.77 -------------------------------------------------------------------------------- 12/01/06 SELL 9,600 48.41 -------------------------------------------------------------------------------- 12/01/06 BUY 6 48.38 -------------------------------------------------------------------------------- 12/01/06 SELL 31,900 48.45 -------------------------------------------------------------------------------- 12/01/06 SELL 6,800 48.44 -------------------------------------------------------------------------------- 12/04/06 SELL 100,000 45.46 -------------------------------------------------------------------------------- 12/06/06 SELL 74 45.44 -------------------------------------------------------------------------------- 12/07/06 BUY 300,000 45.65 -------------------------------------------------------------------------------- 12/07/06 SELL 100,000 45.90 -------------------------------------------------------------------------------- 12/07/06 BUY 283,469 45.65 -------------------------------------------------------------------------------- 12/08/06 BUY 200,000 45.90 -------------------------------------------------------------------------------- 12/08/06 BUY 65,800 45.85 -------------------------------------------------------------------------------- 12/08/06 SELL 250,000 45.73 -------------------------------------------------------------------------------- 12/08/06 BUY 534,800 45.56 -------------------------------------------------------------------------------- 12/08/06 BUY 882,000 45.90 -------------------------------------------------------------------------------- 12/11/06 BUY 100,000 46.04 -------------------------------------------------------------------------------- 12/12/06 SELL 35,023 46.15 -------------------------------------------------------------------------------- 12/13/06 SELL 78 46.04 -------------------------------------------------------------------------------- 12/13/06 BUY 25,000 46.12 -------------------------------------------------------------------------------- 12/20/06 SELL 500 45.89 -------------------------------------------------------------------------------- 12/21/06 BUY 1,821,700 45.89 -------------------------------------------------------------------------------- 12/26/06 BUY 659,400 45.61 -------------------------------------------------------------------------------- 12/26/06 BUY 385 45.61 -------------------------------------------------------------------------------- 12/26/06 SELL 231 45.55 -------------------------------------------------------------------------------- 12/27/06 BUY 1,440,000 45.71 -------------------------------------------------------------------------------- 12/27/06 BUY 60,000 45.71 --------------------------------------------------------------------------------