### Question
How does the law define major swap participant?


### Answer
Under *17 CFR § 1.3*, **major swap participant** is defined as:

> any person:

(i) That is not a swap dealer; 

#### Citation:
  - *17 CFR § 1.3*
  - Heading: **PART 1—GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT**

