The Senators have traded Mike Kostka and Curtis Lazar to the Calgary Flames for Jyrki Jokipakka and a second round pick.
Lazar, 21, has no goals and one assists in 33 games this season with the Senators, his third with the club.
The centre was selected by the Sens 17th overall in the 2013 NHL Entry Draft and has played his entire career in the nation’s capital.
Lazar will be a restricted free-agent at the conclusion of this season.
Jokipakka, 25, was acquired by the Flames on trade deadline day last year in the trade which sent Kris Russell to the Dallas Stars. He owns one goal and five assists in 38 games with the Flames this season.
Kostka, 31, owns one goal and 11 assists in 46 games with the AHL’s Binghamton Senators this season.