### Question
How is the "trading facility" defined?


### Answer
The term **trading facility** is defined in *7 U.S.C. § 1a* as follows -

> a person or group of persons that constitutes, maintains, or provides a physical or electronic facility or system in which multiple participants have the ability to execute or trade agreements, contracts, or transactions—


(i) by accepting bids or offers made by other participants that are open to multiple partipants [3](#1a_3_target) in the facility or system

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

