Correspondence 0001445546-23-004949 from FT 10903 (CIK 0001977590)

FT 10903 (CIK 0001977590)
Date: Aug. 11, 2023 · CIK: 0001977590 · Accession: 0001445546-23-004949

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File numbers found in text: 333-273049

Date

August 11, 2023

Author

Not clearly detected

Form

CORRESP

Company

FT 10903 (CIK 0001977590)

Letter

Division of Investment Management Re: FT 10903 Municipal Income ETF Portfolio, Series 9 (the “Trust”) CIK No. 1977590 File No. 333-273049

Dear Mr. Cowan:

We received your comments regarding the Registration Statement for the above captioned Trust. This letter serves to respond to your comments.

Comments

Portfolio

1.The Staff notes that the disclosure states that the ETFs selected invest significantly in investment grade securities. Please clarify whether the Funds primarily invest in investment grade securities.

Response:The disclosure will be revised in accordance with the Staff’s comment.

2.Please consider including disclosure that the Funds may invest in high yield securities.

Response:The disclosure will be revised in accordance with the Staff’s comment.

We appreciate your prompt attention to this Registration Statement. If you have any questions or comments or would like to discuss our responses to your questions, please feel free to contact Brian D. Free at (312) 845-3017 or the undersigned at (312) 845-3721.

Very truly yours,
Chapman and Cutler llp

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CORRESP
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        Chapman and Cutler LLP

320 South Canal Street, 27th Floor

Chicago, Illinois 60606

T 312.845.3000

F 312.701.2361

www.chapman.com

August 11, 2023

Mark Cowan

U.S. Securities and Exchange Commission

Division of Investment Management

Disclosure Review Office

100 F Street, N.E.

Washington, D.C. 20549

    Re:
    FT 10903

    Municipal Income ETF Portfolio, Series 9

    (the “Trust”)

    CIK No. 1977590 File No. 333-273049

Dear Mr. Cowan:

We received your comments
regarding the Registration Statement for the above captioned Trust. This letter serves to respond to your comments.

Comments

Portfolio

1.The Staff notes that the disclosure states that the ETFs selected invest significantly in investment grade securities. Please clarify
whether the Funds primarily invest in investment grade securities.

Response:The disclosure will
be revised in accordance with the Staff’s comment.

2.Please
consider including disclosure that the Funds may invest in high yield securities.

Response:The disclosure will
be revised in accordance with the Staff’s comment.

We appreciate your prompt attention
to this Registration Statement. If you have any questions or comments or would like to discuss our responses to your questions, please
feel free to contact Brian D. Free at (312) 845-3017 or the undersigned at (312) 845-3721.

.

    Very truly yours,

    Chapman and Cutler llp

    By:
    /s/ Daniel J. Fallon

    Daniel J. Fallon

SecProbe.io