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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3038-0052
ICR Reference No:
202012-3038-006
Status:
Historical Active
Previous ICR Reference No:
201906-3038-007
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Core Principles & Other Requirements for DCMs
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
03/17/2021
Retrieve Notice of Action (NOA)
Date Received in OIRA:
01/11/2021
Terms of Clearance:
Added information about all covered ICs to SS Response 2.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
08/31/2022
36 Months From Approved
08/31/2022
Responses
254
0
98
Time Burden (Hours)
8,316
0
6,853
Cost Burden (Dollars)
0
0
0
Abstract:
In Electronic Trading Risk Principles, the Commission updates designated contract market (DCM) rules in response to the evolution from pit trading to electronic trading. The market disruption and integrity principles adopted in the Final Rule are focused on electronic trading and routing by market participants and DCMs. The collection would require designated contract markets (DCMs) to promptly notify Commission staff of a significant disruption to its electronic trading platform(s) and provide timely information on the cause and remediation. The notification requirement under Regulation 38.251(g) will assist the Commission’s oversight and its ability to monitor and assess market disruptions across all DCMs.
Authorizing Statute(s):
US Code:
7 USC 6k, 6l, 6m, 6n 6o 6p 6r 6s
Name of Law: CEA
US Code:
7 USC 7, 7a-s, 7b, 7b-1, 7b-3
Name of Law: CEA
US Code:
7 USC 8, 9, 10a, 12, 12a, 12c, 15
Name of Law: CEA
US Code:
7 USC 13a, 13a-1, 15, 16, 16a, 19
Name of Law: CEA
US Code:
7 USC 21, 23, 24
Name of Law: CEA
US Code:
7 USC 1a, 2
Name of Law: CEA
US Code:
7 USC 6, 6a, 6c, 6d, 6f, 6g, 6i, 6j
Name of Law: CEA
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3038-AF04
Final or interim final rulemaking
86 FR 2048
01/11/2021
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations
Part 38 - Designated Contract Markets
System Safeguards Testing Requirements
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
254
98
0
156
0
0
Annual Time Burden (Hours)
8,316
6,853
0
1,463
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
Burden hours will increase because §38.251(g) will increase the reporting and disclosures that DCMs are currently obligated to make to the Commission under the part 38 regulations. The Commission expects the notification requirement will assist in market oversight and the ability to monitor and assess market disruptions and system anomalies resulting from electronic trading across all DCMs.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
No
Agency Contact:
Herminio Castro 202 418-6705 hcastro@cftc.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
01/11/2021
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