Paul Cluley

He has extensive derivatives transactional, contentious and advisory experience. Transactional work includes a wide range of structured finance, including structured repo and securities lending in the context of large scale funding and equity transactions and derivative portfolio disposals. Paul’s contentious practice covers disputes arising from all areas of derivatives practice – valuation and XVA, close-out and collateral disputes and allegations of invalidity and market-manipulation. Advisory work has in recent years focused on the imposition of margin requirements for uncleared derivatives. Paul also advises on sales of derivatives books and businesses, including the purchase by Société Générale of Commerzbank’s equity derivatives business, the purchase of a synthetic prime brokerage business and many large and complex derivative portfolio sales and purchases.