SNMP Trap Service - SNMPTRAP.EXE
Snmptrap.exe is a service provided by Microsoft. It receives trap messages generated by local or remote SNMP (Simple Network Management Protocol) agents and forwards the messages to SNMP management programs running on this computer. If you run a single-user system, you may be able to get by without this file. Try disabling it using WinPatrol. If system performance suffers, reset it to 'manual'.
A description of services that run under svchost in Windows XP can be found at http://support.microsoft.com/default.aspx?scid=kb;en-us;314056.
A description of default services running under Winodws can be found at http://support.microsoft.com/default.aspx?scid=kb;en-us;Q250320.
Service
Microsoft