define security-based swap dealer

The SEC is following through on proposals from last year to define a security-based swap dealer. If its latest definitions go into law, this is what you might find if you were to ask google to define it.

security-based swap dealer /siˈkyo͝oritēbāsed swäpˈdēlər/
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Noun: A systemically important bank that trade a large amount of a variety of swap financial transactions. For credit default swaps, the large amount is $3 billion, for other security-based swaps, the de minimis amount is $150 million.
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Synonyms: noun. JP Morgan Chase, Goldman Sachs, Bank of America, Barclays Bank, Deutsche Bank, Morgan Stanley
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More info >>
– Securities & Exchange Commission. Security-based swap dealer.
– Commodity Futures Trading Commission. Security-based swap dealer.
– Risk.net. Security-based swap dealer.

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