81 FR 38689 - Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0099, Process for a Swap Execution Facility or Designated Contract Market To Make a Swap Available To Trade

COMMODITY FUTURES TRADING COMMISSION

Federal Register Volume 81, Issue 114 (June 14, 2016)

The Commodity Futures Trading Commission (CFTC) is announcing an opportunity for public comment on the proposed collection of certain information by the agency. Under the Paperwork Reduction Act (``PRA''), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information and to allow 60 days for public comment. This notice solicits comments on the process for a designated contract market (DCM) or a swap execution facility (SEF) to make a swap available to trade and therefore subject to the trade execution requirement pursuant to the Commodity Exchange Act (``CEA''). This process imposes rule filing requirements on a DCM or a SEF that wishes to submit a swap as available to trade.

[Federal Register Volume 81, Number 114 (Tuesday, June 14, 2016)]
[Notices]
[Pages 38689-38690]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-14029]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0099, Process for a Swap Execution Facility or 
Designated Contract Market To Make a Swap Available To Trade

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing 
an opportunity for public comment on the proposed collection of certain 
information by the agency. Under the Paperwork Reduction Act (``PRA''), 
Federal agencies are required to publish notice in the Federal Register 
concerning each proposed collection of information and to allow 60 days 
for public comment. This notice solicits comments on the process for a 
designated contract market (DCM) or a swap execution facility (SEF) to 
make a swap available to trade and therefore subject to the trade 
execution requirement pursuant to the Commodity Exchange Act (``CEA''). 
This process imposes rule filing requirements on a DCM or a SEF that 
wishes to submit a swap as available to trade.

DATES: Comments must be submitted on or before August 15, 2016.

ADDRESSES: You may submit comments, identified by ``Renewal of 
Collection Pertaining to Process for a Swap Execution Facility or 
Designated Contract Market to Make a Swap Available to Trade'' by any 
of the following methods:
     The Agency's Web site, at http://comments.cftc.gov/. 
Follow the instructions for submitting comments through the Web site.
     Mail: Christopher Kirkpatrick, Secretary of the 
Commission, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street NW., Washington, DC 20581.
     Hand Delivery/Courier: Same as Mail above.
     Federal eRulemaking Portal: http://www.regulations.gov/. 
Follow the instructions for submitting comments through the Portal.
    Please submit your comments using only one method.

FOR FURTHER INFORMATION CONTACT: Roger Smith, Special Counsel, Division 
of Market Oversight, Commodity Futures Trading Commission, (202) 418-
5344; email: [email protected], and refer to OMB Control No. 3038-0099.

SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain 
approval from the Office of Management and Budget (OMB) for each 
collection of information they conduct or sponsor. ``Collection of 
Information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3 and 
includes agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires 
Federal agencies to provide a 60-day notice in the Federal Register 
concerning each proposed collection of information before submitting 
the collection to OMB for approval. To comply with this requirement, 
the CFTC is publishing notice of the proposed collection of information 
listed below.
    Title: Process for a Swap Execution Facility or Designated Contract 
Market to Make a Swap Available to Trade (OMB Control No. 3038-0099). 
This is a request for extension of a currently approved information 
collection.
    Abstract: The collection of information is needed to help determine 
which swaps should be subject to the trade execution requirement under 
section 2(h)(8) of the Commodity Exchange Act pursuant to Section 723 
of

[[Page 38690]]

the Dodd-Frank Wall Street Reform and Consumer Protection Act. A SEF or 
DCM that submits a determination that a swap is available to trade must 
address at least one of several factors to demonstrate that the swap is 
suitable for trading pursuant to the trade execution requirement. The 
Commission uses the collection of information to facilitate the 
application of the trade execution requirement and the requirements 
associated with methods of execution under parts 37 and 38 of the 
Commission's regulations. With respect to the collection of 
information, the CFTC invites comments on:
     Whether the proposed collection of information is 
necessary for the proper performance of the functions of the 
Commission, including whether the information will have a practical 
use;
     The accuracy of the Commission's estimate of the burden of 
the proposed collection of information, including the validity of the 
methodology and assumptions used;
     Ways to enhance the quality, usefulness, and clarity of 
the information to be collected; and
     Ways to minimize the burden of collection of information 
on those who are to respond, including through the use of appropriate 
automated electronic, mechanical, or other technological collection 
techniques or other forms of information technology; e.g., permitting 
electronic submission of responses.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments will be posted as received to 
http://www.cftc.gov. You should submit only information that you wish 
to make available publicly. If you wish the Commission to consider 
information that you believe is exempt from disclosure under the 
Freedom of Information Act, a petition for confidential treatment of 
the exempt information may be submitted according to the procedures 
established in Sec.  145.9 of the Commission's regulations.\1\
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    \1\ 17 CFR 145.9.
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    The Commission reserves the right, but shall have no obligation, to 
review, pre-screen, filter, redact, refuse or remove any or all of your 
submission from http://www.cftc.gov that it may deem to be 
inappropriate for publication, such as obscene language. All 
submissions that have been redacted or removed that contain comments on 
the merits of the Information Collection Request will be retained in 
the public comment file and will be considered as required under the 
Administrative Procedure Act and other applicable laws, and may be 
accessible under the Freedom of Information Act.
    Burden Statement: Sections 37.10 and 38.12 of the Commission's 
regulations result in information collection requirements within the 
meaning of the PRA. This regulation permits a SEF or DCM to submit a 
determination that a swap is available to trade to the Commission via 
filing procedures set forth in part 40 of the Commission's regulations. 
The Commission estimates the burden of reviewing the prescribed factors 
and data to make a determination for this collection to be 16 hours per 
response.
    Respondents/Affected Entities: SEFs, DCMs.
    Estimated number of respondents: 5.\2\
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    \2\ The CFTC had estimated 50 respondents, i.e., registered 
entities, that would file determinations with the CFTC. 78 FR 33618. 
The CFTC is revising this estimated number of respondents based on 
the number of determinations that have been filed since the 
effective date of the rule. In the fall of 2013, four SEFs and one 
DCM self-certified rules, pursuant to Sec.  40.6 filing procedures, 
based upon each SEF's or DCM's respective determinations that 
certain credit default swaps (``CDS'') and interest rate swap 
contracts (``IRS'') were made available to trade.
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    Estimated total annual burden on respondents: 80 hours.
    Frequency of collection: On occasion.

    Authority:  44 U.S.C. 3501 et seq.

    Dated: June 9, 2016.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2016-14029 Filed 6-13-16; 8:45 am]
 BILLING CODE 6351-01-P