Core Principles & Other Requirements for DCMs

Forms and Documents

Document Name	Status
(2020) Supporting Statement 0052 Electronic Risk Trading Final Rule (12-2-2020).docx Supporting Statement A	2020-12-18

IC Document Collections

IC ID	Document Title	Status
29100	Part 38 - Designated Contract Markets	Modified
219525	System Safeguards Testing Requirements	Unchanged
209110	Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations	Unchanged

ICR Details

OMB Control No: 3038-0052	ICR Reference No: 202012-3038-006
Status: Received in OIRA	Previous ICR Reference No: 201906-3038-007
Agency/Subagency: CFTC	Agency Tracking No:
Title: Core Principles & Other Requirements for DCMs
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 01/11/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	08/31/2022
Responses	253	98
Time Burden (Hours)	2,156	6,853
Cost Burden (Dollars)	0	0

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Abstract: In Electronic Trading Risk Principles, the Commission updates designated contract market (DCM) rules in response to the evolution from pit trading to electronic trading. The market disruption and integrity principles adopted in the Final Rule are focused on electronic trading and routing by market participants and DCMs. The collection would require designated contract markets (DCMs) to promptly notify Commission staff of a significant disruption to its electronic trading platform(s) and provide timely information on the cause and remediation. The notification requirement under Regulation 38.251(g) will assist the Commission’s oversight and its ability to monitor and assess market disruptions across all DCMs.

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Authorizing Statute(s): US Code: 7 USC 6k, 6l, 6m, 6n 6o 6p 6r 6s Name of Law: CEA
   US Code: 7 USC 7, 7a-s, 7b, 7b-1, 7b-3 Name of Law: CEA
   US Code: 7 USC 8, 9, 10a, 12, 12a, 12c, 15 Name of Law: CEA
   US Code: 7 USC 13a, 13a-1, 15, 16, 16a, 19 Name of Law: CEA
   US Code: 7 USC 21, 23, 24 Name of Law: CEA
   US Code: 7 USC 1a, 2 Name of Law: CEA
   US Code: 7 USC 6, 6a, 6c, 6d, 6f, 6g, 6i, 6j Name of Law: CEA
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AF04	Final or interim final rulemaking	86 FR 2048	01/11/2021

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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

IC Title	Form No.	Form Name
Part 38 - Designated Contract Markets
Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations
System Safeguards Testing Requirements

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ICR Summary of Burden

	Total Request	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	253	98	0	155	0	0
Annual Time Burden (Hours)	2,156	6,853	0	-4,697	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: Burden hours will increase because §38.251(g) will increase the reporting and disclosures that DCMs are currently obligated to make to the Commission under the part 38 regulations. The Commission expects the notification requirement will assist in market oversight and the ability to monitor and assess market disruptions and system anomalies resulting from electronic trading across all DCMs.

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Annual Cost to Federal Government: $0

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? No

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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: 01/11/2021

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