### Question
How is the "dealer" defined?


### Answer
The term **dealer** is defined in *15 U.S.C. § 78c* as follows -

> any person engaged in the business of buying and selling securities (not including security-based swaps, other than security-based swaps with or for persons that are not eligible contract participants) for such person's own account through a broker or otherwise

#### Citation:
  - *15 U.S.C. § 78c*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

