Real-Time Public Reporting and Block Trade

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
RTR and Block Supporting Statement for PRA Renewal (3038-0070) (2018).doc	Supporting Statement A	Uploaded 2018-01-16	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
203388	Procedures to Establish Appropriate Minimum Block Sizes for Large Notional Off-Facility Swaps and Block Trades		Unchanged
195664	Real-Time Public Reporting		Modified

ICR Details

OMB Control No: 3038-0070	ICR Reference No: 201707-3038-003
Status: Active	Previous ICR Reference No: 201309-3038-002
Agency/Subagency: CFTC	Agency Tracking No:
Title: Real-Time Public Reporting and Block Trade
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 01/18/2018
	Date Received in OIRA: 07/17/2017
Terms of Clearance: Revised supporting statement during review.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2021	36 Months From Approved	01/31/2018
Responses	2,947,746	0	2,701,444
Time Burden (Hours)	590,080	0	734,472
Cost Burden (Dollars)	367,108,989	0	401,531,939

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Abstract: Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) added to the Commodity Exchange Act (CEA) new section 2(a)(13), which establishes standards and requirements related to real-time reporting and the public availability of swap transaction and pricing data. Section 2(a)(13) and part 43 of the Commission’s Regulations require reporting parties to publish real-time swap transactions and pricing data to the general public. Without the frequency of reporting set forth in part 43, the Commission would not be able to adequately assess the swap markets and, more importantly, would fail to achieve the frequency of reporting and promotion of increased price discovery in the swaps market which are mandated by the Dodd-Frank Act. (See next paragraph.) The regulations in Part 43 impose certain recordkeeping and public reporting requirements on swaps execution facilities. The final rule amends part 43 of the Commission’s regulations by establishing criteria for determining what constitutes a large notional off-facility swap or block trade for particular markets and contracts pursuant to CEA section 2(a)(13)(E)(ii). The final rule establishes additional measures to protect the identities of swap counterparties and their business transactions and market positions as required under CEA sections 2(a)(13)(E)(i) and 2(a)(13)(C)(iii).

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Authorizing Statute(s): PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
  

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

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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:
	82 FR 18744	04/21/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 32345	07/13/2017
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
Real-Time Public Reporting
Procedures to Establish Appropriate Minimum Block Sizes for Large Notional Off-Facility Swaps and Block Trades

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ICR Summary of Burden

table that charts list 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	2,947,746	2,701,444	0	246,302	0	0
Annual Time Burden (Hours)	590,080	734,472	0	-144,392	0	0
Annual Cost Burden (Dollars)	367,108,989	401,531,939	0	-34,422,950	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: Miscellaneous Actions

Short Statement: The Commission is not proposing any program changes or adjustments, but the Commission is revising its burden hour estimates based on changes in the number of market participants impacted by the collection, and the type of trading involved.

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Annual Cost to Federal Government: $850,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 07/17/2017

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