Calculation Agent | Practical Law
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Calculation Agent
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Calculation Agent
Practical Law Glossary Item 5-386-4139
(Approx. 4 pages)
Glossary
Calculation Agent
The party to an
over-the-counter (OTC) derivatives
transaction such as an
interest rate swap
(IRS) or
credit default swap
(CDS) that is charged with making certain calculations and determinations germane to the transaction and the exchange of payments thereunder. The calculation agent may be designated in the
ISDA Schedule
to cover all transactions entered into under the related
ISDA Master Agreement
(ISDA Master), or in an individual
transaction confirmation
for a single transaction. The calculation agent is typically the bank or dealer counterparty to the transaction. For further details on the calculation agent, see
Practice Note, Understanding the ISDA Master Agreement and Schedule: Part 4(e): Calculation Agent
.