Display of Customer Limit Orders (17 CFR 242.604

ICR 202103-3235-005

OMB: 3235-0462

Federal Form Document

Forms and Documents
IC Document Collections
IC ID
Document
Title
Status
35150
Modified
ICR Details
3235-0462 202103-3235-005
Received in OIRA 200410-3235-001
SEC
Display of Customer Limit Orders (17 CFR 242.604
Reinstatement with change of a previously approved collection   No
Emergency 04/26/2021
04/14/2021
  Requested Previously Approved
6 Months From Approved
1,213,000,000 0
33,694 0
0 0

Rule 604 requires, with certain exceptions, specialists and market makers to display customer limit orders that are priced superior to the quote that the specialist or market maker is currently displaying. Customer limit orders that match the bid or offer being displayed by the specialist or market maker must be reflected in the quote if the limit order price also matches the national best bid or offer when the size of the customer limit order is more than de minimis.
Commission staff inadvertently and mistakenly discontinued the OMB Control Number associated with these information collection requirements on June 26, 2007 following the re-numbering of the rule with the adoption of Regulation NMS – an error that was only recently discovered. An emergency reinstatement would prevent the disruption of normal collection efforts pursuant to Rule 604, which are still in force. We have attached a justification memo to this submission that provides additional details.

US Code: 15 USC 78k-1 Name of Law: Securities Exchange Act of 1934
  
None

Not associated with rulemaking

No

1
IC Title Form No. Form Name
Display of Customer Limit Orders (17 CFR 242.604)

  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 1,213,000,000 0 0 1,213,000,000 0 0
Annual Time Burden (Hours) 33,694 0 0 33,694 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The burdens are increasing due to the fact that we are requesting to reinstate an OMB number that was previously discontinued. However, the burdens are decreasing from the last approval due to a decrease in the total number of respondents due to consolidation in the industry.

$0
No
    No
    No
No
No
No
No
Geoffrey Pemble 202 551-5628 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
04/14/2021


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