Market rules and by-laws: What’s the difference?

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Many people use the terms “Rules” and “By-Laws” interchangeably. They are similar, but have basic differences. You might think of the difference this way: By-laws are like our Constitution, and Rules are like our laws. Rules (sometimes called “guidelines” or “regulations”) are for the day-to-day operation of the markets. They are often changed a little […]

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