[Federal Register Volume 78, Number 61 (Friday, March 29, 2013)]
[Notices]
[Pages 19335-19336]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-07322]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
Rule 605 of Regulation NMS, SEC File No. 270-488, OMB Control No. 
3235-0542.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 605 
(17 CFR 242.605) under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) (``Exchange Act'').
    Rule 605 of Regulation NMS,\1\ formerly known as, Rule 11Ac1-5, 
requires market centers to make available to the public monthly order 
execution reports in electronic form. The Commission believes that many 
market centers retain most, if not all, of the underlying raw data 
necessary to generate these reports in electronic format. Once the 
necessary data is collected, market centers could either program their 
systems to generate the statistics and reports, or transfer the data to 
a service provider (such as an independent company in the business of 
preparing such reports or a self-regulatory organization) that would 
generate the statistics and reports.
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    \1\ Regulation NMS, adopted by the Commission in June 2005, 
redesignated the national market system rules previously adopted 
under Section 11A of the Exchange Act. Rule 11Ac1-5 under the 
Exchange Act was redesignated Rule 605 of Regulation NMS. No 
substantive amendments were made to Rule 605 of Regulation NMS. See 
Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 
37496 (June 29, 2005).
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    The collection of information obligations of Rule 605 apply to all 
market centers that receive covered orders in national market system 
securities. The Commission estimates

[[Page 19336]]

that approximately 366 market centers are subject to the collection of 
information obligations of Rule 605. Each of these respondents is 
required to respond to the collection of information on a monthly 
basis.
    The Commission staff estimates that, on average, Rule 605 causes 
respondents to spend 6 hours per month to collect the data necessary to 
generate the reports, or 72 hours per year. With an estimated 366 
market centers subject to Rule 605, the total data collection time 
burden to comply with the monthly reporting requirement is estimated to 
be 29,352 hours per year.
    Based on discussions with industry sources, the Commission staff 
estimates that an individual market center could retain a service 
provider to prepare a monthly report using the data collected for 
approximately $2978 per month. This per-respondent estimate is based on 
the rate that a market center could expect to obtain if it negotiated 
on an individual basis. Based on the $2978 estimate, the monthly cost 
to the 366 market centers to retain service providers to prepare 
reports would be $1,089,948, or an annual cost of approximately 
$13,079,376 million.
    The collection of information obligation imposed by Rule 605 is 
mandatory. The response will be available to the public and will not be 
kept confidential.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid OMB control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid OMB control number.
    The public may view background documentation for this information 
collection at the following Web site, www.reginfo.gov. Comments should 
be directed to: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Information and Regulatory Affairs, Office of 
Management and Budget, Room 10102, New Executive Office Building, 
Washington, DC 20503, or by sending an email to: [email protected]; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, Virginia 22312, or send an email to 
[email protected]. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: March 25, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-07322 Filed 3-28-13; 8:45 am]
BILLING CODE 8011-01-P