[Federal Register: November 9, 2004 (Volume 69, Number 216)]
[Notices]
[Page 64917-64918]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09no04-48]

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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0026, Gross Collection of Exchange-Set Margins
for Omnibus Accounts

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 of 1995
(PRA), 44 U.S.C. 3501 et seq., Federal agencies are required to publish
notice in the Federal Register concerning each proposed collection of
information, including each proposed extension of an existing
collection of information, and to allow 60 days for public comment in
response to the notice. This notice solicits comments on requirements
relating to gross collection of Exchange-Set margins for Omnibus
Accounts.

[[Page 64918]]


DATES: Comments must be submitted on or before January 10, 2005.

ADDRESSES: Comments may be mailed to Lawrence B. Patent, Division of
Clearing and Intermediary Oversight, U.S. Commodity Futures Trading
Commission, 1155 21st Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Lawrence B. Patent, (202) 418-5439;
fax: (202) 418-5536; e-mail: Ipatent@cftc.gov.

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(c) 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, including each
proposed extension of an existing 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.
    With respect to the following 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.

Gross Collection of Exchange-Set Margins for Omnibus Accounts, OMB
Control Number 3038-0026--Extension

    Commission Rule 1.58 requires that FCMs margin omnibus accounts on
a gross, rather than a net, basis. The rule provides that the carrying
FCM need not collect margin for positions traded by a person through an
omnibus account in excess of the amount which would be required if the
same person, instead of trading through an omnibus account, maintained
its own account with the carrying FCM.
    The Commission estimates the burden of this collection of
information as follows:

                                                            Estimated Annual Reporting Burden
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                                                Annual number of                                      Total annual        Hours per
                17 CFR Section                     respondents          Frequency of response           responses         response         Total hours
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17 CFR 1.58...................................               150  On occasion.....................               600               .08                48
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    There are no capital costs or operating and maintenance costs
associated with this collection.
    This estimate is based on the number of written records maintained
in the last three years. Although the burden varies, such records may
involve analytical work and analysis, as well as multiple levels of
review.

    Dated: November 4, 2004.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 04-24950 Filed 11-8-04; 8:45 am]

BILLING CODE 6351-01-M