Customer Clearing Documentation and Timing of Acceptance for Clearing

ICR 202311-3038-003

OMB: 3038-0092

Federal Form Document

Forms and Documents
Supplementary Document
Supplementary Document
Supporting Statement A
IC Document Collections
ICR Details
3038-0092 202311-3038-003
Received in OIRA 202010-3038-005
Customer Clearing Documentation and Timing of Acceptance for Clearing
Extension without change of a currently approved collection   No
Regular 11/13/2023
  Requested Previously Approved
36 Months From Approved 01/31/2024
180 183
7,200 7,320
0 0

Under the regulations, SDs, MSPs, FCMs, and DCOs are required to develop and maintain written customer clearing documentation and trade processing procedures. Maintenance of contracts, policies, and procedures is prudent business practice. All SDs, MSPs, FCMs, and DCOs maintain documentation consistent with these regulations. The regulations are crucial both for effective risk management and for the efficient operation of trading venues among SDs, MSPs, FCMs, and DCOs. Each of these entities has a general recordkeeping obligation for these requirements under the Commission’s regulations (regulation 39.20 for DCOs; regulation 23.606 for SDs and MSPs; and regulation 1.73 for FCMs). The regulations are an important part of the Commission’s regulatory program for SDs, MSPs, FCMs, and DCOs. The information required to be preserved is used by representatives of the Commission to ensure compliance with the CEA and applicable Commission regulations relating to clearing activities.

US Code: 7 USC 6d(c) Name of Law: Conflicts of Interest
   PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 7 USC 6s(j)(5) Name of Law: Duties – Conflicts of Interest
   US Code: 7 USC 6s(j)(6) Name of Law: Duties – Antitrust Considerations
   US Code: 7 USC 2(h)(1)(B)(ii) Name of Law: Clearing Requirement – In General – Open Access

Not associated with rulemaking

  88 FR 58251 08/25/2023
88 FR 77562 11/13/2023

IC Title Form No. Form Name
Customer Clearing Documentation and Timing of Acceptance of Clearing

  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 180 183 0 0 -3 0
Annual Time Burden (Hours) 7,200 7,320 0 0 -120 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
While the number of DCOs remains the same, at 15 registrants as in 2020, the burden hour adjustment is due to a decrease in the number of SDs, MSPs, and FCMs from 168 to 165, resulting in 180 as the total number of respondents (from 183 in 2020). While the burden hours, at 40 hours per respondent, remains the same as in 2020, the renewal reflects the increase in hourly burden cost from $100.00 to $120.00, bringing the total annual respondent burden cost to $864,000 ($120 x 40 hrs. per respondent x 180 respondents), an increase from $732,000 in respondent burden cost in 2020.

Thuy Dinh 202 418-5128 [email protected]


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.

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