[Federal Register Volume 69, Number 216 (Tuesday, November 9, 2004)]
[Notices]
[Pages 64917-64918]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-24950]


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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: [email protected].

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