Co-calculation agent: Difference between revisions
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Revision as of 10:29, 26 September 2016
There’s an old saying:
A co-calculation agent is no calculation agent.
However superficially neat this might seem to the age-old valuation dilemma of who should price the trade, it suffers in one important respect: unless the parties agree on the determination, the parties — er — won't agree on the determination. And then what do you do?