Security Based Swap Dealer Law and Legal Definition

The term "security-based swap dealer" means any person who:

a. holds themself out as a dealer in security-based swaps;

b. makes a market in security-based swaps;

c. regularly enters into security-based swaps with counterparties as an ordinary course of business for its own account; or

d. engages in any activity causing it to be commonly known in the trade as a dealer or market maker in security-based swaps. [15 USCS § 78c].