We advise on the full range of over-the-counter (OTC) and exchange-traded derivatives. Our particular strength is in advising on complex and innovative derivatives products and structures, often forming part of a wider structured finance or securitisation transaction. Our clients include banks and financial institutions, insurance companies, hedge funds and corporates from a range of business sectors.
Some of our transactions are driven by a desire to achieve a better balance sheet, regulatory capital or tax treatment. Others involve repackaging assets or cash flows, or hedging against a particular risk (for example, credit risk or market risk), or as a way of implementing an asset allocation strategy without disturbing the underlying asset portfolio. We have also worked on transactions where a derivative (for example, a customised repurchase ("repo")) is used as a mechanism for raising funds within a structured transaction.
We cover the full spectrum of "underlyings", from plain vanilla interest rate and currency derivatives, through commodity, credit and equity-based products and derivatives linked to real estate, insurance and pensions. The derivatives products we have advised on include leveraged loan and portfolio credit default swaps, total return swaps relating to loans, bonds, asset backed securities (ABS) and equities, structured notes and repo financing structures.
Working together with our regulatory, litigation and tax specialists, our derivatives practice also advises clients on the regulatory and tax aspects of structured products and transactions, and on derivatives litigation matters. Our transactions often involve cross-border issues. We work closely with leading local counsel in other jurisdictions to provide a forward-thinking, high class service to our clients.