124 STAT. 1755 PUBLIC LAW 111–203—JULY 21, 2010 (1) in subparagraphs (A) and (B) of paragraph (5), by inserting ‘‘(not including security-based swaps, other than secu- rity-based swaps with or for persons that are not eligible con- tract participants)’’ after ‘‘securities’’ each place that term appears; (2) in paragraph (10), by inserting ‘‘security-based swap,’’ after ‘‘security future,’’; (3) in paragraph (13), by adding at the end the following: ‘‘For security-based swaps, such terms include the execution, termination (prior to its scheduled maturity date), assignment, exchange, or similar transfer or conveyance of, or extinguishing of rights or obligations under, a security-based swap, as the context may require.’’; (4) in paragraph (14), by adding at the end the following: ‘‘For security-based swaps, such terms include the execution, termination (prior to its scheduled maturity date), assignment, exchange, or similar transfer or conveyance of, or extinguishing of rights or obligations under, a security-based swap, as the context may require.’’; (5) in paragraph (39)— (A) in subparagraph (B)(i)— (i) in subclause (I), by striking ‘‘or government securities dealer’’ and inserting ‘‘government securities dealer, security-based swap dealer, or major security- based swap participant’’; and (ii) in subclause (II), by inserting ‘‘security-based swap dealer, major security-based swap participant,’’ after ‘‘government securities dealer,’’; (B) in subparagraph (C), by striking ‘‘or government securities dealer’’ and inserting ‘‘government securities dealer, security-based swap dealer, or major security-based swap participant’’; and (C) in subparagraph (D), by inserting ‘‘security-based swap dealer, major security-based swap participant,’’ after ‘‘government securities dealer,’’; and (6) by adding at the end the following: ‘‘(65) ELIGIBLE CONTRACT PARTICIPANT.—The term ‘eligible contract participant’ has the same meaning as in section 1a of the Commodity Exchange Act (7 U.S.C. 1a). ‘‘(66) MAJOR SWAP PARTICIPANT.—The term ‘major swap participant’ has the same meaning as in section 1a of the Commodity Exchange Act (7 U.S.C. 1a). ‘‘(67) MAJOR SECURITY-BASED SWAP PARTICIPANT.— ‘‘(A) IN GENERAL.—The term ‘major security-based swap participant’ means any person— ‘‘(i) who is not a security-based swap dealer; and ‘‘(ii)(I) who maintains a substantial position in security-based swaps for any of the major security- based swap categories, as such categories are deter- mined by the Commission, excluding both positions held for hedging or mitigating commercial risk and positions maintained by any employee benefit plan (or any contract held by such a plan) as defined in para- graphs (3) and (32) of section 3 of the Employee Retire- ment Income Security Act of 1974 (29 U.S.C. 1002) for the primary purpose of hedging or mitigating any risk directly associated with the operation of the plan;
