Derivatives

We work with a diverse client base, including investment managers, hedge funds, ERISA plans, ’40 Act funds, UCITS, SICAV funds and financial institutions. Our lawyers are well-versed in all types of derivatives agreements — including those which are published by industry trade groups such as the International Swaps and Derivatives Association (ISDA), the Securities Industry and Financial Markets Association (SIFMA) and the International Securities Lending Association (ISLA), as well as agreements which are entirely proprietary in nature and specific to a particular financial institution. We also provide regulatory & compliance advice related to trading agreements, including issues related to the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act.

Our team of lawyers solely dedicated to this specialized practice area has an in-depth knowledge of industry terms and practices and a breadth of experience that few other firms can equal. It is because of this experience that Schulte is in a unique position to offer its clients first-rate and efficient service. Our lawyers regularly advise and provide expert service in all aspects of trading agreements and our expansive industry knowledge extends to a wide range of derivative product agreements and account agreements, including: 

• ISDA master agreements
• Prime brokerage agreements
• Margin term lockup agreements
• Custody agreements
• Collateral control agreements
• Repurchase agreements
• Securities lending agreements
• Master confirmations and long-form and short-form trade confirmations
• Futures and options agreements
• Master give-up agreements
• Executing broker agreements
• Clearing broker agreements
• Confidentiality agreements
• Master netting agreements
• Foreign exchange trading agreements
• Commodity agreements 

Although many of the trading agreements are industry standard, they are vigorously negotiated. In addition, when our clients re-examine prime broker and counterparty relationships, we provide advice on reducing counterparty credit risk. Our lawyers have extensive knowledge regarding the asset protection terms of the Security Exchange Act of 1934 (applicable to U.S. broker-dealers) and the Financial Conduct Authority regulations (applicable to the financial services industry in the United Kingdom). Given the multitude of different prime brokerage platforms offered by financial institutions around the globe, our lawyers can be instrumental in helping clients determine what type of prime brokerage account best suits their needs while reducing asset protection risk.

Negotiating trading agreements is only the starting point of our relationship with our clients. We take an integrated approach to client service by addressing our clients’ current, near- and long-term business objectives, as well as their internal culture and risk tolerance. As a result, trading agreements become tools for helping our clients achieve their business goals rather than obstacles or sources of financial harm.