Before revision:  We show that a combination of trade-level regression and global conditioning (exploiting the linearity of conditional expectations over filtrations) radically simplifies both the computation and also the implementation of the computations .
After revision:  We show that a combination of trade-level regression and global conditioning (exploiting the linearity of conditional expectations over filtrations) radically simplifies both the computation and allocation of prices or hedging costs to desks on an individual trade basis. We show how to combine three technical elements to radically simplify XVA management, both in terms of the calculations, and the implementation of the calculations. The three technical elements are: trade-level regression; analytic computation of sensitivities; and global conditioning. All three are required to obtain the radical efficiency gains and implementation simplification .