---identifier: "/us/cfr/t17/s38.100"source: "ecfr"legal_status: "authoritative_unofficial"title: "17 CFR § 38.100 - Core Principle 1."title_number: 17title_name: "Commodity and Securities Exchanges"section_number: "38.100"section_name: "Core Principle 1."chapter_name: "COMMODITY FUTURES TRADING COMMISSION"part_number: "38"part_name: "DESIGNATED CONTRACT MARKETS"positive_law: falsecurrency: "2026-04-05"last_updated: "2026-04-05"format_version: "1.1.0"generator: "[email protected]"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."regulatory_source: "66 FR 42277, Aug. 10, 2001, unless otherwise noted."cfr_part: "38"---
Identifier
/us/cfr/t17/s38.100
Currency
2026-04-05
Positive Law
No
Updated
2026-04-05
Chapter
Commodity Futures Trading Commission
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. 111-2... 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.
# 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) 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) 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.