Page:United States Statutes at Large Volume 124.djvu/1692

 124 STAT. 1666 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(42) SECURITY-BASED SWAP.—The term ‘security-based swap’ has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)). ‘‘(43) SECURITY-BASED SWAP DEALER.—The term ‘security- based swap dealer’ has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)).’’; (20) in paragraph (46) (as redesignated by paragraph (1)), by striking ‘‘subject to section 2(h)(7)’’ and inserting ‘‘subject to section 2(h)(5)’’; (21) by inserting after paragraph (46) (as redesignated by paragraph (1)) the following: ‘‘(47) SWAP.— ‘‘(A) IN GENERAL.—Except as provided in subparagraph (B), the term ‘swap’ means any agreement, contract, or transaction— ‘‘(i) that is a put, call, cap, floor, collar, or similar option of any kind that is for the purchase or sale, or based on the value, of 1 or more interest or other rates, currencies, commodities, securities, instruments of indebtedness, indices, quantitative measures, or other financial or economic interests or property of any kind; ‘‘(ii) that provides for any purchase, sale, payment, or delivery (other than a dividend on an equity secu- rity) that is dependent on the occurrence, nonoccur- rence, or the extent of the occurrence of an event or contingency associated with a potential financial, economic, or commercial consequence; ‘‘(iii) that provides on an executory basis for the exchange, on a fixed or contingent basis, of 1 or more payments based on the value or level of 1 or more interest or other rates, currencies, commodities, securi- ties, instruments of indebtedness, indices, quantitative measures, or other financial or economic interests or property of any kind, or any interest therein or based on the value thereof, and that transfers, as between the parties to the transaction, in whole or in part, the financial risk associated with a future change in any such value or level without also conveying a cur- rent or future direct or indirect ownership interest in an asset (including any enterprise or investment pool) or liability that incorporates the financial risk so transferred, including any agreement, contract, or transaction commonly known as— ‘‘(I) an interest rate swap; ‘‘(II) a rate floor; ‘‘(III) a rate cap; ‘‘(IV) a rate collar; ‘‘(V) a cross-currency rate swap; ‘‘(VI) a basis swap; ‘‘(VII) a currency swap; ‘‘(VIII) a foreign exchange swap; ‘‘(IX) a total return swap; ‘‘(X) an equity index swap; ‘‘(XI) an equity swap; ‘‘(XII) a debt index swap; ‘‘(XIII) a debt swap;