PRACTICE AREA - Derivatives


Derivatives

Kleinberg Kaplan has a sophisticated and extensive Derivatives Practice. We represent clients on a broad array of matters involving both exchange traded and over-the-counter derivative products. A critical aspect of our practice is advising clients regarding compliance and tax issues pertaining to derivatives as well as synthetic and bespoke transactions.

A significant amount of the work we do for our clients includes the negotiation of ISDA-based general forms, such as Master Agreements, Credit Support Annexes, Confirmations, as well as related Annexes, Supplements and tri-party custodial agreements as well as cleared derivatives addendums and executing dealer agreements. We also negotiate other trading documents such as prime brokerage agreements, master purchase agreements, master securities loan agreements, as well as customized agreements with all leading U.S. and international dealers.

Our practice also includes advising clients on specific derivative trades such as:

  • credit default swaps
  • total return swaps
  • equity swaps
  • forwards
  • options
  • loan swaps
  • commodity derivatives
  • synthetic loan facilities
  • interest rate swaps

In particular, we provide guidance as to interpretive issues under the related ISDA Definitions. We also have significant experience with credit default swaps and have closely followed and advised clients on the changes in this area over the past decade. Our firm counsels a member of the ISDA Credit Derivatives Determinations Committee and has submitted requests for certain credit and other events. We structure, negotiate and draft derivatives to address client needs to achieve optimal tax, investment and financing goals within the changing regulatory environment.

With respect to exchange traded derivatives, we negotiate master account agreements, such as for options and futures, with the leading dealers. We also provide advice regarding compliance with SEC and CFTC regulations.

Our Derivatives Practice Group has closely analyzed the provisions of the Dodd-Frank Act governing derivatives and the related CFTC and SEC rules that have been, and are being, promulgated to implement them. We also closely follow the various ISDA protocols and documentation changes which have been made in response to Dodd-Frank rulemaking. We keep our clients current on these developments, through our ongoing consultation and client alerts, and advise them on compliance with regulations and regulatory interpretations.

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