Notice2026-16038
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0092, Customer Clearing Documentation and Timing of Acceptance for Clearing
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 6, 2026
Issuing agencies
Commodity Futures Trading Commission
Abstract
The Commodity Futures Trading Commission ("CFTC" or "Commission") is announcing an opportunity for public comment on the proposed renewal of a collection of certain information by the agency. Under the Paperwork Reduction Act of 1995 ("PRA"), 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. This notice solicits comments on the extension of information collection requirements relating to the obligation to maintain clearing documentation records between the customer and the customer's clearing member under the Commodity Exchange Act, OMB Control No. 3038-0092 (Customer Clearing Documentation and Timing of Acceptance for Clearing).
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 150 (Thursday, August 6, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 150 (Thursday, August 6, 2026)]
[Notices]
[Pages 50814-50816]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-16038]
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Extend Collection 3038-0092, Customer Clearing Documentation and Timing
of Acceptance for Clearing
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or
``Commission'') is announcing an opportunity for public comment on the
proposed renewal of a collection of certain information by the agency.
Under the Paperwork Reduction Act of 1995 (``PRA''), 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. This notice solicits comments on the extension of
information collection requirements relating to the obligation to
maintain clearing documentation records between the customer and the
customer's clearing member under the Commodity Exchange Act, OMB
Control No. 3038-0092 (Customer Clearing Documentation and Timing of
Acceptance for Clearing).
DATES: Comments must be submitted on or before October 5, 2026.
ADDRESSES: You may submit comments, identified by ``Customer Clearing
Documentation and Timing of Acceptance for Clearing,'' Collection
Number 3038-0092, by any of the following methods:
<bullet> <a href="http://Regulations.gov">Regulations.gov</a>: Go to <a href="https://www.regulations.gov">https://www.regulations.gov</a> and
press the ``Search'' button, then proceed as follows:
1. Under Refine Documents Result--check the box to ``Only show
documents open for comment'';
2. Under Agency--select ``See More'' and check the box for
``Commodity Futures Trading Commission,'' then press the Apply button;
3. Identify this notice in the list of CFTC documents open for
comment, press the ``Comment'' button to open the submission form and
follow the instructions on the form.
Alternatively, if you are viewing this notice on
<a href="http://www.federalregister.gov">www.federalregister.gov</a>, click the ``Submit A Public Comment'' button
at the top of the page to open the comment form. Follow the
instructions on the form to submit your comment to <a href="http://Regulations.gov">Regulations.gov</a>.
<bullet> Mail: Send to--Christopher Kirkpatrick, Secretary of the
Commission, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581.
<bullet> Hand Delivery/Courier: Address to--CFTC Comment
Submission, Attn: Christopher Kirkpatrick, Secretary of the Commission,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street NW, Washington, DC 20581.
Please submit your comments using only one method. To avoid
possible delays with mail or in-person deliveries, submissions through
<a href="http://Regulations.gov">Regulations.gov</a> are encouraged.
[[Page 50815]]
All comments must be submitted in English, or if not, accompanied
by an English translation. Do not include in your comment text or
attachments any personal identifying information or business
information that you do not want published online. Comments (regardless
of submission method) will be published without review for, and without
removal of, any personal identifying information or information your
business may consider confidential. If you wish to submit confidential
information for the Commission's consideration, please contact the CFTC
personnel listed in this Notice under FOR FURTHER INFORMATION CONTACT
before making any submission. Please also carefully review the
Commission's procedures in 17 CFR 145.9 for requesting confidential
treatment under the Freedom of Information Act (``FOIA'') of
information submitted to the Commission.
The CFTC reserves the right, but shall have no obligation, to
review, pre-screen, filter, or redact all or any part of your comment
submission. The CFTC also reserves the right, without further
notification, to refuse to publish or to remove from public view all or
any part of your submission to the extent it contains content
inappropriate for publication in a comment file, such as--without
limitation--obscene language, threats of violence, solicitations for
commercial sales or illegal activity, or obvious spam. If a submission
that is refused for or withdrawn from publication because of
inappropriate content also contains comments on the merits of this
notice, such submission will be retained in the record for the matter
and will be considered as required under the Administrative Procedure
Act, the Paperwork Reduction Act, and other applicable laws, and may be
accessible under the FOIA.
FOR FURTHER INFORMATION CONTACT: Dina Moussa, Special Counsel, at (202)
418-5696, or <a href="/cdn-cgi/l/email-protection#01656c6e7472726041626775622f666e77"><span class="__cf_email__" data-cfemail="a7c3cac8d2d4d4c6e7c4c1d3c489c0c8d1">[email protected]</span></a>; or Catherine Brescia, Attorney Advisor,
at (202) 418-6236, or <a href="/cdn-cgi/l/email-protection#8fecedfdeafcece6eecfece9fbeca1e8e0f9"><span class="__cf_email__" data-cfemail="d1b2b3a3b4a2b2b8b091b2b7a5b2ffb6bea7">[email protected]</span></a>, Market Participants Division,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street NW, Washington, DC 20581; and refer to OMB Control No. 3038-
0092.
SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq.,
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. PRA section 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.\1\ To comply with this
requirement, the Commission is publishing notice of the proposed
collection of information listed below. 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.
---------------------------------------------------------------------------
\1\ 44 U.S.C. 3506(c)(2)(A).
---------------------------------------------------------------------------
Title: Customer Clearing Documentation and Timing of Acceptance for
Clearing (OMB Control No. 3038-0092). This is a request for an
extension of a currently approved information collection.
Abstract: Section 4d(c) of the Commodity Exchange Act (``CEA''), as
amended by the Dodd-Frank Wall Street and Reform Consumer Protection
Act (``Dodd-Frank Act''), directs the Commission to require futures
commission merchants (``FCMs'') to implement conflict of interest
procedures that address such issues as the Commission determines to be
appropriate.\2\ Similarly, CEA section 4s(j)(5), as added by the Dodd-
Frank Act, requires swap dealers (``SDs'') and major swap participants
(``MSPs'') to implement conflict of interest procedures that address
such issues the Commission determines to be appropriate.\3\ CEA section
4s(j)(5) also requires SDs and MSPs to ensure that any persons
providing clearing activities or making determinations as to accepting
clearing customers are separated by appropriate informational
partitions from persons whose involvement in pricing, trading, or
clearing activities might bias their judgment or contravene the core
principle of open access. CEA section 4s(j)(6) prohibits an SD or MSP
from adopting any process or taking any action that results in any
unreasonable restraint on trade or imposes any material anticompetitive
burden on trading or clearing, unless necessary or appropriate to
achieve the purposes of the CEA.\4\ CEA section 2(h)(1)(B)(ii) requires
that derivatives clearing organization (``DCO'') rules provide for the
nondiscriminatory clearing of swaps executed bilaterally or through an
unaffiliated designated contract market or swap execution facility.\5\
---------------------------------------------------------------------------
\2\ 7 U.S.C. 6d(c).
\3\ 7 U.S.C. 6s(j)(5).
\4\ 7 U.S.C. 6s(j)(6).
\5\ 7 U.S.C. 2(h)(1)(B)(ii).
---------------------------------------------------------------------------
To address these provisions, the Commission promulgated regulations
that prohibit arrangements involving FCMs, SDs, MSPs, and DCOs that
would (a) disclose to an FCM, SD, or MSP the identity of a customer's
original executing counterparty; \6\ (b) limit the number of
counterparties with whom a customer may enter into a trade; \7\ (c)
restrict the size of the position a customer may take with any
individual counterparty, apart from an overall credit limit for all
positions held by the customer at the FCM; \8\ (d) impair a customer's
access to execution of a trade on terms that have a reasonable
relationship to the best terms available; \9\ or (e) prevent compliance
with specified time frames for acceptance of trades into clearing set
forth in Regulations 1.74(b), 23.610(b), or 39.12(b)(7).\10\
Additionally, the Commission requires, through Regulation
39.12(b)(7)(i)(B), DCOs to coordinate with clearing members to
establish prompt processing of trades.\11\ Regulations 1.74(a) and
23.610(a) require reciprocal coordination by FCMs, SDs, and MSPs that
are clearing members.\12\
---------------------------------------------------------------------------
\6\ 17 CFR 1.72(a), 23.608(a), and 39.12(a)(1)(vi).
\7\ 17 CFR 1.72(b), 23.608(b), and 39.12(a)(1)(vi).
\8\ 17 CFR 1.72(c), 23.608(c), and 39.12(a)(1)(vi).
\9\ 17 CFR 1.72(d), 23.608(d), and 39.12(a)(1)(vi).
\10\ 17 CFR 1.72(e), 23.608(e), and 39.12(a)(1)(vi).
\11\ 17 CFR 39.12(b)(7)(i)(B).
\12\ 17 CFR 1.74(a) and 23.610(a).
---------------------------------------------------------------------------
Under the above regulations, SDs, MSPs, FCMs, and DCOs are required
to develop and maintain written customer clearing documentation and
trade processing procedures. Maintenance of contracts, policies, and
procedures is prudent business practice. All SDs, MSPs, FCMs, and DCOs
maintain documentation consistent with these regulations. The
regulations are crucial both for effective risk management and for the
efficient operation of trading venues among SDs, MSPs, FCMs, and DCOs.
Each of these entities has a general recordkeeping obligation for these
requirements under the Regulations 39.20 for DCOs,\13\ 23.606 for SDs
and MSPs,\14\ and 1.73 for FCMs.\15\
---------------------------------------------------------------------------
\13\ 17 CFR 39.20.
\14\ 17 CFR 23.606.
\15\ 17 CFR 1.73.
---------------------------------------------------------------------------
As indicated below, the information collection burden arising from
the regulations primarily is restricted to the costs associated with
the affected registrants' obligation to maintain records related to
clearing documentation between the customer
[[Page 50816]]
and the customer's clearing member, and trade processing procedures
between DCOs and FCMs, SDs, and MSPs. The information collection
obligations are necessary to implement certain provisions of the CEA,
including ensuring that registrants exercise effective risk management
and for the efficient operation of trading venues among SDs, MSPs,
FCMs, and DCOs.
With respect to the collection of information, the CFTC invites
comments on:
<bullet> 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;
<bullet> The accuracy of the Commission's estimate of the burdens
of the proposed collection of information, including the validity of
the methodology and assumptions used;
<bullet> Ways to enhance the quality, usefulness, and clarity of
the information to be collected; and
<bullet> Ways to minimize the burdens 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).
Burden Statement: The respondent burden for this collection is
estimated to be as follows:
Estimated Number of Respondents: 204.
Estimated Average Burden Hours per Respondent: 40.
Estimated Total Annual Burden Hours: 8,160.
Frequency of Collection: As needed.
There are no capital costs or operating and maintenance costs
associated with this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: August 4, 2026.
Christopher Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2026-16038 Filed 8-5-26; 8:45 am]
BILLING CODE 6351-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on August 6, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.