[Federal Register: October 13, 1999 (Volume 64, Number 197)]
[Notices]               
[Page 55499]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr13oc99-96]                         

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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 Filings and Information Services, Washington, DC 
20549

Extension:
    Rule 11a1-1(T), SEC File No. 270-428, OMB Control No. 3235-0478

    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 a 
request for extension of the previously approved collection of 
information discussed below.

<bullet> Rule 11a1-1(T)--Transaction Yielding Priority, Parity, and 
Precedence

    On January 27, 1976, the Commission adopted Rule 11a1-1(T) under 
the Securities Exchange Act of 1934 (``Exchange Act'') to exempt 
transactions of exchange members for their own accounts that would 
otherwise be prohibited under Section 11(a) of the Exchange Act. The 
rule provides that a member's proprietary order may be executed on the 
exchange of which the trader is a member, if, among other things: (1) 
The member discloses that a bid or offer for its account is for its 
account to any member with whom such bid or offer is placed or to whom 
it is communicated; (2) any such member through whom that bid or offer 
is communicated discloses to others participating in effecting the 
order that is for the account of a member; and (3) immediately before 
executing the order, a member (other than a specialist in such 
security) presenting any order for the account of a member on the 
exchange clearly announces or otherwise indicates to the specialist and 
to other members then present that he is presenting an order for the 
account of a member.
    There are approximately 1,000 respondents that require an aggregate 
total of 333 hours to comply with this rule. Each of these 
approximately 1,000 respondents makes an estimated 20 annual responses, 
for an aggregate of 20,000 responses per year. Each response takes 
approximately 1 minute to complete. Thus, the total compliance burden 
per year is 333 hours (20,000 minutes/60 minutes per hour = 333 hours). 
The approximate cost per hour is $100, resulting in a total cost of 
compliance for the respondents of $33,333 (333 hours @ $100).
    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 control number.
    Written comments regarding the above information should be directed 
to the following persons: (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; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-26619 Filed 10-12-99; 8:45 am]
BILLING CODE 8010-01-M