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Calculation agent: Difference between revisions
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As its name suggests, a calculation agent is a person appointed to calculate things, usually in the context of a {{masteragreement}} like an {{isdama}}, a {{gmra}}, a {{gmsla}} or a {{csa}} or other credit support document. It will usually be one of the parties to the master agreement, and usually the broker dealer out of the two, if there is only one. | As its name suggests, a calculation agent is a person appointed to calculate things, usually in the context of a {{masteragreement}} like an {{isdama}}, a {{gmra}}, a {{gmsla}} or a {{csa}} or other credit support document. It will usually be one of the parties to the master agreement, and usually<ref>Like, ''always''.</ref> the [[broker dealer]] out of the two, if there is only one. | ||
But just who the calculation agent is, and how much discretion it has to determine the calculation without entertaining protest from the other party, is a matter that can occupy a derivatives lawyer for days on end. | But just who the calculation agent is, and how much discretion it has to determine the calculation without entertaining protest from the other party, is a matter that can occupy a derivatives lawyer for days on end. | ||
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{{indetail|Calculation Agent}} | {{indetail|Calculation Agent}} | ||
====References==== | |||