Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems that are not National Securities Exchanges

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form ATS ATS	Form and Instruction	Modified	Available
Form ATS ATS	Form and Instruction	New	Repair queued
Form ATS-R ATS-R	Form and Instruction	New	Available
Form ATS ATS	Form and Instruction	New	Available
2009 301 Supporting Statement (v3).doc	Supporting Statement A	Uploaded 2010-01-05	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35287	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Initial Operation Report	Form and Instruction	Modified	ATS
191658	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Order Display and Execution Access		New
191657	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Systems Outage Notices		New
191656	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Systems Capacity, Integrity and Security Recordkeeping		New
191655	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Fair Access Notices		New
191654	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Fair Access Standards Recordkeeping		New
191648	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Cessation of Operations Report	Form and Instruction	New	ATS
191647	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS-R - Quarterly Reports	Form and Instruction	New	ATS-R
191646	Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Periodic Amendments to Update Information	Form and Instruction	New	ATS

ICR Details

OMB Control No: 3235-0509	ICR Reference No: 200912-3235-018
Status: Historical Inactive	Previous ICR Reference No: 200706-3235-001
Agency/Subagency: SEC	Agency Tracking No: TM-270-451
Title: Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems that are not National Securities Exchanges
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 02/09/2010
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/05/2010
Terms of Clearance: Previous terms of clearance still apply: In its next submission of this ICR, the agency is instructed to delete from the cost burdens the portion that represents a monetization of the burden hours. The agency is reminded to avoid such double-counting of burden.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2013	36 Months From Approved	02/28/2011
Responses	529	0	465
Time Burden (Hours)	14,583	0	1,976
Cost Burden (Dollars)	3,700,000	0	189,488

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Abstract: Rule 301 provides the conditions with which a broker-dealer alternative trading system must comply. Initially, all such alternative trading systems must file an initial operation report which includes information regarding operation of the system. Such alternative trading systems are also required to make quarterly reports of aggregate transaction data. Certain notice requirements are triggered by alternative trading system volume such as notification to an investor denied or limited access to the system and notice to the Commission of systems' outages. Rule 301(b)(3) requires that an ATS meeting a specified threshold of activity in NMS stocks must display its best-priced orders to the public quote stream. The Commission is proposing amendments to the order display and execution access obligations in Regulation ATS, including a substantial lowering of the trading volume threshold in Regulation ATS that triggers public display obligations for ATSs from 5 percent to 0.25 percent. This lowering of the threshold could increase the number of respondents beyond ten The proposed amendment to Rule 301 would not impact the current collection of information, which would continue. Rather, the proposed amendment to Rule 301(b)(3) would broaden the existing collection of information under Rule 301 as it would potentially require a greater number of respondents to disclose order information to the public. A collection of information has already been approved for Rule 301 of Regulation ATS. While the Commission does not believe that the burdens associated with current Rule 301 have changed, the total number of ATSs have increased since the Commission last examined the rule. Specifically, the number of registered ATSs has increased from approximately 65 to 73. Accordingly, this submission updates the relevant burden estimates accordingly.

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Authorizing Statute(s): US Code: 15 USC 78a Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK46	Proposed rulemaking	74 FR 61208	11/23/2009

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

table that charts list of burden

IC Title	Form No.	Form Name
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Fair Access Notices
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Fair Access Standards Recordkeeping
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Cessation of Operations Report	ATS	ATS
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Initial Operation Report	ATS	ATS
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Periodic Amendments to Update Information	ATS	ATS
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS-R - Quarterly Reports	ATS-R	ATS-R
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Order Display and Execution Access
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Systems Capacity, Integrity and Security Recordkeeping
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Systems Outage Notices

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ICR Summary of Burden

table that charts list of burden

	Total Request	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	529	465	0	12	52	0
Annual Time Burden (Hours)	14,583	1,976	0	12,392	215	0
Annual Cost Burden (Dollars)	3,700,000	189,488	0	3,700,000	-189,488	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: While the Commission does not believe that the burdens associated with current Rule 301 have changed, the total number of ATSs have increased since the Commission last examined the rule. Specifically, the number of registered ATSs has increased from approximately 65 to 73. In addition, the Commission estimates 8 new ATSs would file the initial report on an annual basis. This submission updates the relevant burden estimates accordingly, to reflect the increase in number of registered ATSs, and any associated change in the estimated respondents to the relevant ICs. Also, in revising the ICR, the Commission has revised the format to separate out each IC as part of the rule, as opposed to having a one consolidated IC for all ICs under Rule 301, as previously done.

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Annual Cost to Federal Government: $260,742

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)? No

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: 01/05/2010

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