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  • [Federal Register: July 30, 2007 (Volume 72, Number 145)]


    [Page 41498-41499]

    From the Federal Register Online via GPO Access []




    Agency Information Collection Activities Under OMB Review: Notice

    of Intent To Renew Collection 3038-0054, Establishing Procedures for

    Entities Operating as Exempt Markets

    AGENCY: Commodity Futures Trading Commission.

    ACTION: Notice.


    SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501

    et seq.), this notice announces that the Information Collection Request

    (ICR) abstracted below has been forwarded to the Office of Management

    and Budget (OMB) for review and comment. The ICR describes the nature

    of the information collection and the expected costs and burden; it

    includes the actual data collection instruments [if any].

    DATES: Comments must be submitted on or before August 29, 2007.

    FOR FURTHER INFORMATION CONTACT: Riva Spear Adriance, Division of

    Market Oversight, U.S. Commodity Futures Trading Commission, 1155 21st

    Street, NW., Washington, DC 20581, (202) 418-5494; FAX: (202) 418-5527;

    e-mail: and refer to OMB Control No. 3038-0054.


    Title: Establishing Procedures for Entities Operating as Exempt

    Markets, OMB Control No. 3038-0054. This is a request for extension of

    a currently approved information collection.

    Abstract: Sections 2(h)(3) through (5) of the Commodity Exchange

    Act (Act) provides that exempt commercial markets are markets excluded

    from the Act's other requirements. The rules implement the qualifying

    conditions of the exemption. Rule 36.3(a) implements the notification

    requirements, and rule 36.3(b)(1) establishes information requirements

    for exempt commercial markets consistent with section 2(h)(5)(B) of the

    Act. An exempt commercial market may provide the Commission with access

    to transactions conducted on the facility or it can satisfy its

    reporting requirements by complying with the Commission's reporting

    requirements. The Act affirmatively vests the Commission with

    comprehensive anti-manipulation enforcement authority over these

    trading facilities. The Commission is

    [[Page 41499]]

    charged with monitoring these markets for manipulation and enforcing

    the anti-manipulation provisions of the Act. The informational

    requirements imposed by proposed rules are designed to ensure that the

    Commission can effectively perform these functions. Section 5d of the

    Act establishes a category of market exempt from Commission oversight

    referred to as an "exempt board of trade." Rule 36.2 implements

    regulations that define those commodities that are eligible to trade on

    an exempt board of trade. Rule 36.2(b) implements the notification

    requirements of section 5d of the Act. Rule 36.2(b)(1) requires exempt

    boards of trade relying on this exemption to disclose to traders that

    the facility and trading on the facility is not regulated by the

    Commission. This requirement is necessary to make manifest the nature

    of the market and to avoid misleading the public.

    An agency may not conduct or sponsor, and a person is not required

    to respond to, a collection of information unless it displays a

    currently valid OMB control number. The OMB control numbers for the

    CFTC's regulations were published on December 30, 1981. See 46 FR 63035

    (Dec. 30, 1981). The Federal Register notice with a 60-day comment

    period soliciting comments on this collection of information was

    published on May 22, 2007 (72 FR 28686).

    Burden statement: The respondent burden for this collection is

    estimated to average 20 hours per response. These estimates include the

    time needed to review instructions; develop, acquire, install, and

    utilize technology and systems for the purposes of collecting,

    validating, and verifying information, processing and maintaining

    information and disclosing and providing information; adjust the

    existing ways to comply with any previously applicable instructions and

    requirements; train personnel to be able to respond to a collection of

    information; and transmit or otherwise disclose the information.

    Respondents/Affected Entities: 20.

    Estimated number of responses: 20.

    Estimated total annual burden on respondents: 200 hours.

    Frequency of collection: On Occasion.

    Send comments regarding the burden estimated or any other aspect of

    the information collection, including suggestions for reducing the

    burden, to the addresses listed below. Please refer to OMB Control No.

    3038-0054 in any correspondence. Riva Spear Adriance, Division of

    Market Oversight, U.S. Commodity Futures Trading Commission, 1155 21st

    Street, NW., Washington, DC 20581, and Office of Information and

    Regulatory Affairs, Office of Management and Budget, Attention: Desk

    Officer for CFTC, 725 17th Street, Washington, DC 20503.

    Dated: July 24, 2007.

    Eileen A. Donovan,

    Acting Secretary of the Commission.

    [FR Doc. 07-3697 Filed 7-27-07; 8:45 am]

    BILLING CODE 6351-01-M

    Last Updated: July 31, 2007