### Question
How is the term security-based swap defined?


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

> any agreement, contract, or transaction that—


(i) is a swap, as that term is defined under section 1a of the Commodity Exchange Act [7 U.S.C. 1a] (without regard to paragraph (47)(B)(x) of such section)

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

