Derivatives
Commercial legal advice in all commodity derivatives matters
Our specialist team advises clients trading commodity derivatives, both over-the-counter and exchange-traded.
What we do in Derivatives
The firm was instrumental in creating the legal documentation underpinning the Over-The-Counter/Forward Freight Agreement (FFA) market. Brian Perrott, one of our partners, co-authored the terms of the Forward Freight Agreement Brokers' Association (FFABA) 2005 and 2007.
We have particular experience of:
- Freight derivatives and FFAs
- ISDA documentation and other master agreements
- Over-the-counter commodity swaps and options
- Exchange-traded derivatives (ETD), including futures and options, and covering both trading and clearing issues
- Other derivative products
- Working with derivatives exchanges
- Clearing
- Regulatory matters, in particular:
- New regulations on the trading, reporting, collateralisation, risk management and clearing of derivatives
- Exchange and clearing house rules and related law and regulation
- market abuse issues
Our experience in Derivatives
We have many years' experience of both advisory work and dispute resolution in derivatives and commodity matters, and have been involved in a number of leading cases in the law of structured commodities. We provide below some examples of our work in Derivatives:
- Advising derivative traders as well as liquidators and companies regarding derivative books
- A leading High Court litigation and Court of Appeal litigation on International Swap Deals Association (ISDA) master agreement.
- Acting for financial institutions and banks with regards derivatives issues and documentation.
- Advising a leading commodity Exchange (LIFFE)on a variety of issues relating to commodity contracts, in particular drafting contracts relating to physical delivery of relevant commodities.
- Advising a member of the London Metal Exchange and other UK and non-UK exchanges on compliance with the European Market Infastructure Regulation (EMIR).
