Real-Time Public Reporting and Block Trade

Forms and Documents

Document Name	Status
Block Trade SUPPORTING STATEMENT.doc Supporting Statement A	2013-08-27

IC Document Collections

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

ICR Details

OMB Control No: 3038-0070	ICR Reference No: 201306-3038-005
Status: Historical Inactive	Previous ICR Reference No: 201207-3038-008
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: Comment filed on proposed rule and continue	Conclusion Date: 08/28/2013
	Date Received in OIRA: 06/10/2013
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.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2015	36 Months From Approved	04/30/2015
Responses	1,198	0	1,198
Time Burden (Hours)	677,140	0	677,140
Cost Burden (Dollars)	150,017,825	0	150,017,825

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Abstract: The proposed regulations in Part 43 impose certain recordkeeping and public reporting requirements on the following entities; swaps execution facilities (

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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:
3038-AD08	Proposed rulemaking	77 FR 15460	03/15/2012

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 15460	03/15/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 32866	05/31/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

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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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: The numbers presented on the IC burden worksheet cannot accurately reflect the actual burden because the number of reports by each respondent varies by frequency and amount. (See 78 FR 32866 at 32913 - 32915, May 31, 2013, as well as Supporting statement.) For instance, the Commission estimates that there 125 SDs and MSPs, and 1000 other non-financial end-user parties. On average, the estimate is that SD/MSP reporting parties would likely notify a SEF or DCM of a block trade election approximately 1000 times per year while non-SD/MSP reporting parties likely would notify a SEF or DCM of a block trade election approximately 5 times per year.

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Annual Cost to Federal Government: $5,000,000

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: 06/10/2013

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