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OMB Control No: 3038-0074	ICR Reference No: 202412-3038-003
Status: Active	Previous ICR Reference No: 202404-3038-001
Agency/Subagency: CFTC	Agency Tracking No:
Title: Core Principles and Other Requirements for Swap Execution Facilities
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: 05/22/2025
Retrieve Notice of Action (NOA)	Date Received in OIRA: 03/11/2025
Terms of Clearance: Supporting statement updated during OMB review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2028	36 Months From Approved	05/31/2025
Responses	7,829,147	0	815,160
Time Burden (Hours)	15,499	0	15,615
Cost Burden (Dollars)	0	0	0

Abstract: Commodity Exchange Act (“CEA”) section 5h sets forth the requirements concerning the registration and operation of swap execution facilities (SEFs), which the Commission has implemented in part 37 of its regulations. The information collections under this Control Number are necessary for the Commission to evaluate whether SEFs, or entities applying to become SEFs, comply with the part 37 regulatory requirements. CFTC regulations require a Swap Execution Facilities (SEF) to provide each counterparty to a swap transaction, whether cleared or uncleared, that is entered into on or pursuant to the rules of the SEF, with a written “confirmation” that contains all of the terms of the transaction. 17 CFR 37.6(b). With respect to an uncleared swap transaction, a SEF may comply with the requirement to include in the confirmation all of the terms of the transaction, by incorporating by reference relevant terms set forth in underlying, previously-negotiated agreements between the counterparties, as long as the SEF has obtained these agreements prior to execution of the transaction. The information is used by the Commission to determine whether SEFs, and applicants seeking registration as a SEF with the Commission, are in compliance with applicable core principles and all other part 37 requirements. The information collection for swap confirmations under § 37.6(b) ensure legal certainty of transactions by requiring SEFs to provide each counterparty to a transaction that is executed on or pursuant to the rules of the SEF with a written record of all of the terms of the transaction which shall legally supersede any conflicting terms of a previous agreement and serve as a confirmation of the transaction.

Authorizing Statute(s): PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
US Code: 7 USC 7b-3 Name of Law: CEA

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Stat 1376 (2010) Name of Law: Dodd-Frank Act

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 105012	12/26/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 11728	03/11/2025
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
37.6(b) - Confirmation Requirement for registered SEFs
Core Principles and Other Requirements for Swap Execution Facilities	Form SEF, Questionnaire	Form SEF , SEF Technology Questionnaire

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	7,829,147	815,160	7,013,987
Annual Time Burden (Hours)	15,499	15,615	-116
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: There are no program changes. The Commission has updated its burden estimates for this collection. The total number of estimated responses has increased to 7,829,147, based on updated reporting data. Based on consultations with industry participants, the Commission understands that the large majority of swap confirmations (which makes up the bulk of responses in this collection) are provided via highly automated reporting systems. Accordingly, the total burden associated with the collection remains largely consistent with prior estimates. The Commission’s estimate of burden associated with this collection has decreased from 15,615 to 15,499. In addition, the Commission is consolidating the Information Collections in this collection under the main IC titled “Core Principles and Other Requirements for Swap Execution Facilities” and removing the second IC titled “37.6(b) - Confirmation Requirement for registered SEFs.” Accordingly, the total burden for this collection is now reflected under the IC titled “Core Principles and Other Requirements for Swap Execution Facilities.”

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: Kenny Wright 202 326-2907 kwright@ftc.gov

View ICR - OIRA Conclusion