### Question
What does swap execution facility mean?


### Answer
**Swap execution facility** has the following meaning in *7 U.S.C. § 1a*:

> a trading system or platform in which multiple participants have the ability to execute or trade 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 swaps between persons

#### Citation:
  - *7 U.S.C. § 1a*
  - Heading: **CHAPTER 1-COMMODITY EXCHANGES**

