Registration of Foreign Boards of Trade

Forms and Documents

Document Name	Status
Form Appendix to Part 4 Registration of Foreign Boards of Trade Form	Modified
2015-19394-60 Days FRN (0101).pdf Supplementary Document	2015-10-16
2015 Supporting Statement (0101).docx Supporting Statement A	2015-10-13

IC Document Collections

IC ID	Document Title	Status
195217	Registration of Foreign Boards of Trade Form	Modified

ICR Details

OMB Control No: 3038-0101	ICR Reference No: 201510-3038-001
Status: Historical Active	Previous ICR Reference No: 201208-3038-008
Agency/Subagency: CFTC	Agency Tracking No:
Title: Registration of Foreign Boards of Trade
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/08/2015
	Date Received in OIRA: 10/20/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2018	36 Months From Approved	12/31/2015
Responses	2,255	0	2,001
Time Burden (Hours)	11,756	0	16,604
Cost Burden (Dollars)	0	0	0

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Abstract: The rules implement new statutory provisions enacted by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). These rules establish a registration requirement that applies to foreign boards of trade that wish to provide their identified members of other participants located in the United States with direct access to their electronic trading and order matching systems.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 7 USC 6(b) Name of Law: Foregin Boards of Trade
   US Code: 7 USC 6(b) Name of Law: Regulations of Futures Trading and Foreign Transactions
  

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

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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:
	80 FR 47475	08/07/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 63544	10/20/2015
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Registration of Foreign Boards of Trade	Appendix to Part 48, Cont. of Appendix Pt. 48	FBOT ,   FBOT

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ICR Summary 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	2,255	2,001	0	254	0	0
Annual Time Burden (Hours)	11,756	16,604	0	-4,848	0	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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The Commission has revised its estimate with respect to the number of new applicants expected annually from one applicant with a burden of 1000 total hours to three applicants with a burden of 1000 hours each, or a total burden of 3000 hours. The Commission has reduced its estimate of registered FBOTs that would permit swaps to be traded by direct access from four to two, thus reducing the estimated total annual reporting burden from 8320 hours to 4160 hours. Finally, the Commission estimated that one registered FBOT would permit a linked contract to be traded by direct access, the total annual reporting burden of which would be 778 annual responses and a total estimated burden of 1812 hours. The Commission is increasing its estimate of the number of registered FBOTs that will permit swaps to be traded by direct access to two, thereby increasing the estimated total annual burden to 3624 hours.

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Annual Cost to Federal Government: $332,851

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]? Yes

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: 10/20/2015

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