[Federal Register Volume 68, Number 192 (Friday, October 3, 2003)]
[Notices]
[Page 57492]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-25115]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549
Extension

Rule 11Ac1-1--SEC File No. 270-404--OMB Control No. 3235-0461.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for extension of the previously approved 
collection of information discussed below.
    Rule 11Ac1-1, Dissemination of Quotations, contains two related 
collections of information necessary to disseminate market makers' 
published quotations to buy and sell securities to the public. The 
first collection of information is found in Rule 11Ac1-1(c) 17 CFR 
11Ac1-1(c). This reporting requirement obligates each ``responsible 
broker or dealer,'' as defined under the rule, to communicate to its 
exchange or association its best bids, best offers, and quotation sizes 
for any subject security, as defined under the rule. The second 
collection of information is found in Rule 11Ac1-1(b) 17 CFR11Ac1-1(b). 
This reporting requirement obligates each exchange and association to 
make available to quotation vendors for dissemination to the public the 
best bid, best offer, and aggregate quotation size for each subject 
security.\1\ Brokers, dealers, other market participants, and members 
of the public rely on published quotation information to determine the 
best price and market for execution of customer orders.
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    \1\ A third requirement under the Rule 11Ac1-1, as amended at 17 
CFR 11Ac1-1(c)(5), gives electronic communications networks 
(``ECNs'') the option of reporting to an exchange or association for 
public dissemination, on behalf of their OTC market maker or 
exchange specialist customers, the best priced orders and the full 
size for such orders entered by market makers, to satisfy such 
market makers' reporting obligation under Rule 11Ac1-1(c). Because 
this reporting requirement is an alternative method of meeting the 
market makers' reporting obligation, and because it is directed to 
nine or fewer persons (ECNs), this collection of information is not 
subject to OMB review under the Paperwork Reduction Act.
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    It is anticipated that 721 respondents, consisting of 180 exchange 
specialists and 541 OTC market makers, will make 246,788,000 total 
annual responses pursuant to Rule 11Ac1-1, resulting in an annual 
aggregate burden of approximately 205,486 hours.
    Written comments are invited on: (a) Whether the proposed 
collections of information are necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the proposed collections of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
collected; and (d) ways to minimize the burden of collections of 
information on those who are to respond, including through the use of 
automated collection techniques or other forms of information 
technology. Consideration will be given to comments and suggestions 
submitted in writing within 60 days of this publication.
    Please direct your written comments to Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, NW., Washington, 
DC 20549.

    Dated: September 24, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-25115 Filed 10-2-03; 8:45 am]
BILLING CODE 8010-01-P