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.
Inventory as of this Action
Requested
Previously Approved
02/28/2013
36 Months From Approved
02/28/2011
529
0
465
14,583
0
1,976
3,700,000
0
189,488
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.
US Code:
15
USC 78a Name of Law: Securities Exchange Act of 1934
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.
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:
(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;
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.
Form ATS Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Initial Operation Report
2009 301 Supporting Statement (v3).doc
Rule 301 (17 CFR 242.301) Requirements for Alternative Trading Systems: Form ATS - Initial Operation Report