Exchange Act Rule 11a1-1(T) (17 CFR 240.11a1-1(T)); Transactions yielding priority, parity, and precedence

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
2008 11a1-1(T) - Justification Statement (2) (2).DOC	Supporting Statement A	Uploaded 2008-12-09	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35205	Exchange Act Rule 11a1-1(T) (17 CFR 240.11a1-1(T)); Transactions yielding priority, parity, and precedence.		Modified

ICR Details

OMB Control No: 3235-0478	ICR Reference No: 200812-3235-007
Status: Historical Active	Previous ICR Reference No: 200602-3235-005
Agency/Subagency: SEC	Agency Tracking No: 270-428
Title: Exchange Act Rule 11a1-1(T) (17 CFR 240.11a1-1(T)); Transactions yielding priority, parity, and precedence
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/13/2009
	Date Received in OIRA: 12/15/2008
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2012	36 Months From Approved	04/30/2009
Responses	23,020	0	20,000
Time Burden (Hours)	32	0	333
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 11a1-1(T) provides that an exchange member’s proprietary order may be executed on the exchange of which the trader is a member, if, among other things: (1) the member discloses that a bid or offer for its account is for its account to any member with whom such bid or offer is placed or to whom it is communicated; (2) any such member through whom that bid or offer is communicated discloses to others participating in effecting the order that is for the account of a member; and (3) immediately before executing the order, a member (other than a specialist in such security) presenting any order for the account of a member on the exchange clearly announces or otherwise indicates to the specialist and to other members then present that he is presenting an order for the account of a member.

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Authorizing Statute(s): US Code: 15 USC 78k(1) Name of Law: Section 11(a)(1) of the Exchange Act
  

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 59686	10/09/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 76067	12/13/2008
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Exchange Act Rule 11a1-1(T) (17 CFR 240.11a1-1(T)); Transactions yielding priority, parity, and precedence.

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ICR Summary of Burden

table that charts list 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	23,020	20,000	0	0	3,020	0
Annual Time Burden (Hours)	32	333	0	0	-301	0
Annual Cost Burden (Dollars)	0	0	0	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: It was previously estimated that there would be approximately 1,000 respondents that would require an aggregate total of 333 hours to comply with this rule. Each of these approximately 1,000 respondents would make an estimated 20 annual responses, for an aggregate of 20,000 responses per year. Each response would take approximately 1 minute to complete. Thus, the total compliance burden per year would be 333 burden hours (20,000/60 minutes per hour = 333 burden hours). The revisions to the estimate are due to market changes over time and changes in market participant salaries. Specifically, the revised estimate is based on a revised estimated number of respondents, a revised response time, and a revised hourly cost of compliance. There are approximately 1,151 members of floor based exchanges estimated to potentially respond pursuant to the rule, which is an increase of 151 estimated respondents (1,151 – 1,000 = 151 respondents). It is estimated that each respondent makes 20 annual responses. This figure remains unchanged, but as a result of an increase in the estimated number of respondents the annual estimated number of responses increased by 3,020 (23,020 – 20,000 = 3,020 responses). It is estimated that each response takes approximately 5 seconds to complete, which is a decrease of 55 seconds per response (1 minute x 60 seconds/minute = 60 seconds; 60 seconds – 5 seconds = 55 seconds per response). In turn, the estimated annual compliance burden decreased by 301 hours (333 hours – 32 hours = 301 hours).

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 12/15/2008

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