### Question
What does security-based swap agreement mean?


### Answer
**Security-based swap agreement** has the following meaning in *15 U.S.C. § 78c*:

> a swap agreement as defined in section 206A of the Gramm-Leach-Bliley Act (15 U.S.C. 78c note) of which a material term is based on the price, yield, value, or volatility of any security or any group or index of securities, or any interest therein

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

