Despite the European connection to the origin of grading races and the international application of . grades, it must be kept in mind that our racing differs fundamentally from racing in other countries: in most countries, stakes events are set forth by a central authority, and changes to major fixtures are made under the aegis of a central governing body. racing, however, is de-centralized, and no such uniform control can exist. racing and stakes programs are dynamic products of regulatory, contractual, and competitive conditions in many local and regional environments. The . grading system is designed to accommodate the flexibility and dynamism of . racing; a grading system that could not quickly respond to our ever-changing conditions would never be appropriate in our country. Judgment and flexibility thus must always be a part of the system.