SBS. For purposes of this Master Agreement, the term “SBS” means a “security- based swap” as defined in Section 3(a)(68) of the SEA and the SEC Rules thereunder. For the avoidance of doubt, the term “SBS” does not include an SBS that has been cleared by a clearing agency.
Appears in 2 contracts
Sources: SBS Protocol Agreement, Isda 2021 SBS Protocol Agreement