### Question
Can you define what major security-based swap participant means?


### Answer
**Major security-based swap participant** is defined as the following in *15 U.S.C. § 78c*:

> any person—


(i) who is not a security-based swap dealer

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

