CTA Plan and the Nasdaq UTP Plan; Post-Trade Transparency for ATSs

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
PRA Supporting Statement CTA UTP Post-Trade Transparency.doc	Supporting Statement A	Uploaded 2010-02-02	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
191915	CTA Plan and the Nasdaq UTP Plan; Post-Trade Transparency for ATSs -- SIPs		New
191914	CTA Plan and the Nasdaq UTP Plan; Post-Trade Transparency for ATSs -- FINRA		New
191913	CTA Plan and the Nasdaq Plan; Post-Trade Transparency for ATSs -- ATSs		New

ICR Details

OMB Control No: 3235-0759	ICR Reference No: 201002-3235-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No: MR-270-602
Title: CTA Plan and the Nasdaq UTP Plan; Post-Trade Transparency for ATSs
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 06/25/2010
	Date Received in OIRA: 02/23/2010
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will describe in the preamble of the final rule how the agency has maximized the practical utility of the collection and minimized the burden. The next submission to OMB must include the draft final rule.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The CTA Plan and the Nasdaq UTP Plan are joint-industry plans that provide for the dissemination of last sale information for equity securities and set forth the arrangements for dissemination of consolidated trade information. As part of its effort to address the inadequacy of the current level of post-trade transparency of ATSs, the Commission proposed to amend the CTA Plan and Nasdaq UTP Plan to require the disclosure of the identity of individual ATSs on trade reports in the public data stream, the same way exchange trades are identified. First, the proposed Plan amendments would require the disclosure of the identity of those ATSs subject to Regulation ATS on trade reports in the public data steam. Specifically, the proposed Plan amendments, by redefining terms in the Plans, indirectly would require ATSs to include a unique identifier when transmitting last sale price data to FINRA. Second, the proposed Plan amendments would require FINRA to transmit to the SIPs a unique identifier from each ATS subject to Regulation ATS, unless the trade is a large size trade (a trade with a market value of at least $200,000). Third, the proposed Plan amendments would require the SIPs for the Plans to disseminate information provided to them by FINRA.

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Authorizing Statute(s): US Code: 15 USC 78K-1(A)(1) Name of Law: Section 11(A)(1) of the 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: 3

table that charts list of burden

IC Title	Form No.	Form Name
CTA Plan and the Nasdaq UTP Plan; Post-Trade Transparency for ATSs -- FINRA
CTA Plan and the Nasdaq UTP Plan; Post-Trade Transparency for ATSs -- SIPs
CTA Plan and the Nasdaq Plan; Post-Trade Transparency for ATSs -- ATSs

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The joint-industry plans that provide for the dissemination of last sale information for equity securities are the Consolidated Tape Association Plan (“CTA Plan”) and the Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation, and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis (“Nasdaq UTP Plan”) (collectively “the Plans”). The Plans govern the arrangements for disseminating consolidated trade information. Among other things, the Plans require the individual self-regulatory organizations ("SROs") to provide trade information (including information identifying the exchange where the trade was executed) for a national market system ("NMS") stock to a securities information processor (“SIP”), which then consolidates the information into a single stream for dissemination to the public. As part of its effort to address the inadequacy of the current level of post-trade transparency of alternative trading systems ("ATSs"), the Commission proposed to amend the Plans to require the disclosure of the identity of individual ATSs on trade reports in the public data stream, the same way exchange trades are identified.

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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]? No

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: 02/23/2010

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