security-based swap execution facility

Defined in 1 dictionary — U.S. Code

United States Code

15 U.S.C. § 78C — under this chapter (3 versions over time)

The term “security-based swap execution facility” means a trading system or platform in which multiple participants have the ability to execute or trade security-based swaps by accepting bids and offers made by multiple participants in the facility or system, through any means of interstate commerce, including any trading facility, that—

(A) facilitates the execution of security-based swaps between persons; and

(B) is not a national securities exchange.