Calculation Agent: Difference between revisions

Calculation Agent (view source)

622 bytes removed , 6 October 2022

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 {{cocalculationagent}}
 ===Other ISDA booklets===
-The term is defined separately in each definition booklet:
+As well as in the {{isdama}}, the term is defined separately in each definition booklet, giving everyone a nice opportunity for some [[clarifying hierarchy]] action:
 *In the {{eqdefs}} at Section {{eqderivprov|1.40}};
 *In the {{funddefs}} (in virtually identical terms to the {{eqdefs}}) at Section {{funddefprov|1.27}};
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 *{{eqderivprov|Determining Party}}
 {{ref}}
-{{g}}As its name suggests, a [[calculation agent]] is a person appointed to calculate things, usually in the context of a [[master trading agreement]] 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 [[Mediocre lawyer|derivatives lawyer]] for days on end.
-Spoiler: appointing each party as a [[co-calculation agent]] won’t work.