### Question
Can you define what swap means?


### Answer
**Swap** is defined as the following in *7 U.S.C. § 1a*:

> any agreement, contract, or transaction—


(i) that is a put, call, cap, floor, collar, or similar option of any kind that is for the purchase or sale, or based on the value, of 1 or more interest or other rates, currencies, commodities, securities, instruments of indebtedness, indices, quantitative measures, or other financial or economic interests or property of any kind

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

