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Sub practice
Sub practice

Derivatives and Structured Finance

The Derivatives and Structured Finance group at A&O has been at the forefront of the transformation of the derivatives and structured finance markets for decades.

We develop relevant and innovative solutions to the challenges that our clients face, helping them to concentrate on their day to day business and succeed in today’s markets. We continue to play a leading role in the development and implementation of the myriad of regulations affecting the derivatives and structured finance markets.

For example, Margin, poses intricate issues for our clients and we are providing our clients with a seamless combination of innovative technology and traditional legal advice. We are also advising our clients on clearing, U.S. and EU execution platforms and trading requirements, covering EMIR, Dodd-Frank, MiFID and other regulations that have an impact on these markets.

We advise our clients on a wide range of transactions that incorporate traditional derivatives and structured finance structures in bespoke and complex ways relevant to today’s markets and regulatory environment. These include CLOs, commodity structures, equity financings and illiquid asset financings with underlying assets in many jurisdictions across the globe.

We have worked with ISDA for more than 20 years, and our close involvement with other industry bodies, has given us a unique opportunity to participate in the development of the OTC derivatives industry. We translate this into effective, efficient and practical advice to our clients.

News & insights

Digital panels

Publications: 28 JUNE 2019

New CME Guidance Puts Trading in the Pre-Open Period in the Spotlight

On April 11, 2019, CME, CBOT, NYMEX, and COMEX collectively published potentially significant revisions to the guidance on the CME Globex pre-open process.

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Publications: 19 FEBRUARY 2019

How should Europe’s non-bank lending market be regulated?

​Non-bank lending in the European Union is becoming an ever more significant source of financing for business. In light of its increasing importance to Europe’s economy, policymakers are re-evaluating their approach to this market and considering whether the existing regulatory framework remains appropriate.

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Publications: 17 DECEMBER 2018

ISDA publishes a new edition of its Arbitration Guide

The International Swaps and Derivatives Association (ISDA) (advised by Allen & Overy LLP) has published a second edition of its Arbitration Guide (the 2018 ISDA Arbitration Guide). While the basic structure of the Arbitration Guide remains unchanged – reflecting ISDA members’ broad satisfaction with the first edition (the 2013 ISDA Arbitration Guide) – a number of new model clauses have been added in response to users’ feedback, and amendments have been made to the guidance notes to reflect changes in arbitral rules and market practice over the past five years. This second edition reflects ISDA’s intention for the Arbitration Guide to be a “living document” that will be updated from time to time.

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Publications: 01 NOVEMBER 2018

CFTC Chairman Giancarlo White Paper: Cross-Border Swaps Regulation Version 2.0

On Monday, October 1, Chairman of the Commodity Futures Trading Commission (the CFTC) J. Christopher Giancarlo released Cross-Border Swaps Regulation Version 2.0, a white paper (the White Paper) which calls for dramatic overhaul to the CFTC's extraterritorial application of Title VII of the Dodd-Frank Act[1] (Title VII).

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