---
kind: "section"
citation: "17 C.F.R. § 38.100"
title: "17"
number: "38.100"
heading: "Core Principle 1."
url: "https://uscodex.org/cfr/17/38.100"
---

# §38.100. Core Principle 1.

- (a) **In general.** To be designated, and maintain a designation, as a contract market, a board of trade shall comply with:
  - (1) Any core principle described in section 5(d) of the Act, and
  - (2) Any requirement that the Commission may impose by rule or regulation pursuant to [section 8a(5)](/cfr/17/8a.md?p=5) of the Act.
- (b) **Reasonable discretion of the contract market.** Unless otherwise determined by the Commission by rule or regulation, a board of trade described in [paragraph (a)](#a) of this section shall have reasonable discretion in establishing the manner in which the board of trade complies with the core principles described in this subsection.

## Notes

### Source

Source: 77 FR 36700, June 19, 2012, unless otherwise noted.

### Authority

Authority: 7 U.S.C. 1a, 2, 6, 6a, 6c, 6d, 6e, 6f, 6g, 6i, 6j, 6k, 6l, 6m, 6n, 7, 7a-2, 7b, 7b-1, 7b-3, 8, 9, 15, and 21, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, 124 Stat. 1376.

### Source

Source: 66 FR 42277, Aug. 10, 2001, unless otherwise noted.