Organized exchange.

Organized exchange. This term means a trading facility that -
(1) Permits trading -
(i) By or on behalf of a person that is not an eligible contract participant; or
(ii) By persons other than on a principal-to-principal basis; or
(2) Has adopted (directly or through another nongovernmental entity) rules that -
(i) Govern the conduct of participants, other than rules that govern the submission of orders or execution of transactions on the trading facility; and
(ii) Include disciplinary sanctions other than the exclusion of participants from trading.


17 CFR § 1.3

Scoping language

Words used in the singular form in the rules and regulations in this chapter shall be deemed to import the plural and vice versa, as the context may require. The following terms, as used in the Commodity Exchange Act, or in the rules and regulations in this chapter, shall have the meanings hereby assigned to them, unless the context otherwise requires:

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