CMX lawyers have advised companies, banks, broker-dealers, private funds, high net worth individuals and family offices on transactions in the rapidly evolving derivatives market. CMX lawyers have been derivative practitioners since the beginning developing stages of the derivatives market in the 1980's.

CMX’s Derivatives practice work with clients to structure and implement new derivative products, develop trading strategies utilizing complex debt and equity instruments, document and execute derivatives transactions for hedging or investment purposes, and negotiate and establish master derivative trading relationships with banks and broker-dealers.

We collaborate with other practice groups in the Firm to provide comprehensive advice to corporations, funds and financial institutions that use derivatives, and we maintain strong relationships with international local counsel to allow us to service our clients’ needs for derivatives advice in international markets. Our lawyers actively participate in industry-wide initiatives, including the International Swaps and Derivatives Association (ISDA) working groups.

We focus on the types of derivatives most used by our clients, including:

  • Equity Derivatives including issuer transactions, swaps and options
  • Fixed Income, Commodity and Credit Default Swaps and Loan Credit Default Swaps
  • Loan and Bond Total Return Swaps

CMX lawyers also help our clients efficiently manage positions, risk exposure and leverage by negotiating:

  • ISDA Master Agreements and Credit Support Annexes
  • Clearing Agreements
  • Prime Brokerage Agreements
  • Synthetic Prime Brokerage Agreements
  • Portfolio and Cross-product Margining Agreements and Collateral Bridges
  • Repurchase Agreements
  • Securities Lending Agreements

In addition to transactional matters, CMX lawyers provide regulatory and compliance advice relating to the treatment of derivatives transactions under Dodd-Frank and related CFTC and SEC rules and regulations.

We represent clients in transactions involving OTC derivative financial products, advising numerous commercial and investment banks, as well as major corporations, insurance companies and other end-users of these products. Our lawyers are also experienced in traditional commodities transactions and exchange-listed futures and options, counseling major exchanges, commercial banks, insurance companies, portfolio managers, investment banks, traders and advisers.

We have been involved in developing a variety of innovative derivatives and financial product transactions. Among others, our lawyers has been instrumental in the development of credit derivatives and equity derivatives, including various convertible note and equity transactions, including related derivative transactions. We have significant experience with various stand-alone derivative transactions, such as accelerated share repurchase transactions, equity forwards, equity margin loans, outperformance swaps, and total return swap transactions, including both debt and equity-linked total return swaps and facilities. Many of these transactions have been structured to resolve novel and complex tax, regulatory and accounting issues.

Please contact CMXLaw with any inquires you may have.