### Question
How does COMMODITY EXCHANGES define cleared swap?


### Answer
Under *7 U.S.C. § 1a*, **cleared swap** is defined as:

> any swap that is, directly or indirectly, submitted to and cleared by a derivatives clearing organization registered with the Commission

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

