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15 U.S. Code § 78c-4. Security-based swap execution facilities
(a) Registration
(1) In general
No person may operate a facility for the trading or processing of security-based swaps, unless the facility is registered as a security-based swap execution facility or as a national securities exchange under this section.
(2) Dual registration
Any person that is registered as a security-based swap execution facility under this section shall register with the Commission regardless of whether the person also is registered with the Commodity Futures Trading Commission as a swap execution facility.
(b) Trading and trade processingA security-based swap execution facility that is registered under subsection (a) may—
(1)
make available for trading any security-based swap; and
(2)
facilitate trade processing of any security-based swap.
(c) Identification of facility used to trade security-based swaps by national securities exchanges
A national securities exchange shall, to the extent that the exchange also operates a security-based swap execution facility and uses the same electronic trade execution system for listing and executing trades of security-based swaps on or through the exchange and the facility, identify whether electronic trading of such security-based swaps is taking place on or through the national securities exchange or the security-based swap execution facility.