Part 40, Provisions Common to Registered Entities

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
(2015) Supporting Statement - 0093.docx	Supporting Statement A	Uploaded 2015-12-01	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
219140	Regulation Automated Trading		New
201522	Part 40, Provisions Common To Registered Entities		Modified

ICR Details

OMB Control No: 3038-0093	ICR Reference No: 201512-3038-001
Status: Historical Inactive	Previous ICR Reference No: 201508-3038-003
Agency/Subagency: CFTC	Agency Tracking No:
Title: Part 40, Provisions Common to Registered Entities
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 02/12/2016
	Date Received in OIRA: 12/17/2015
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. 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	10/31/2018	36 Months From Approved	12/31/2018
Responses	7,000	0	7,000
Time Burden (Hours)	14,000	0	14,000
Cost Burden (Dollars)	980,000	0	980,000

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Abstract: In Regulation Automated Trading, Commission seeks to update Commission rules in response to the evolution from pit trading to electronic trading. The risk controls and other rules proposed in the NPRM are focused on algorithmic order origination or routing by market participants, and electronic order execution by DCMs. In addition to mitigating risks arising from algorithmic trading activity, the proposed rules are intended to increase transparency around DCM electronic trade matching platforms and the use of self-trade prevention tools on DCMs. Furthermore, the proposed rules are intended to foster transparency with respect to DCM programs and activities, including market maker and trading incentive programs, that have become more prominent as automated trading becomes the dominant market model. The proposed Commission Regulation regulations 40.25 would require DCMs to provide the Commission with certain information regarding their market-maker and trading incentive programs when submitting such programs as rules pursuant to part 40. The collection of information is necessary to foster transparency with respect to DCM programs and activities, including market maker and trading incentive programs, that have become more prominent as automated trading becomes the dominant market model. The obligations created by the proposed rules are essential to promote responsible innovation and fair competition among boards of trade, other markets and market participants.

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Authorizing Statute(s): US Code: 7 USC a2 Name of Law: Procedures for registed entities, etc.
  

Citations for New Statutory Requirements: US Code: 7 USC 12a(5) Name of Law: Registration of commodity dealers and associated persons; regulation of registered entities
US Code: 7 USC 6c(a)(6) Name of Law: Prohibited transactions
US Code: 7 USC 5(b) Name of Law: Findings and purpose

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD52	Proposed rulemaking	80 FR 78823	12/17/2015

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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: 2

table that charts list of burden

IC Title	Form No.	Form Name
Regulation Automated Trading
Part 40, Provisions Common To Registered Entities

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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: Burden hours will increase because proposed § 40.25 will increase the disclosures DCMs are currently obligated to make under Part 40.

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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]? 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: 12/17/2015

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