Legal Definition of Swap Execution Facility

What is Legal Definition of Swap Execution Facility?

Legal Definition of Swap Execution Facility meaning (50) Swap execution facility The term “swap execution facility” means a trading system or platform in which multiple participants have the ability to execute or trade swaps by accepting bids and offers made by multiple participants in the facility or system, through any means of interstate commerce, including any trading facility, that— (A)facilitates the execution of swaps between persons; and (B)is not a 

 

reference: U.S. COMMODITY FUTURES TRADING COMMISSION – CFTC Glossary