Derivatives & Commodities

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With our specific buy-side focus, Ropes & Gray’s derivatives and commodities practice offers investment professionals unrivaled counsel on a full range of regulatory and commercial matters involving these financial instruments.

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Derivatives

Many Wall Street law firms have built a derivatives practice on representing dealers. By contrast, Ropes & Gray’s practice grew as part of our leading national investment funds practice, which currently represents over 1,000 mutual funds having more than $1 trillion in assets under management, some of the largest hedge fund managers and numerous alternative investment vehicles.

Our derivatives attorneys rarely encounter a problem they have not already thought hard about, and they are in a position to share their accumulated knowledge and insight from the outset. Our derivatives attorneys are helping clients with a number of current challenges, including:

  • Analysis of Dodd-Frank rulemakings relating to derivatives, including clearing, trading, margin and reporting rules
  • Negotiation of derivatives clearing documentation with dealers
  • Advising on credit issues with respect to derivatives and lessons learned from the MF Global and Lehman Brothers insolvency proceedings
  • Negotiation of ISDA Master Agreements, prime brokerage contracts (including term agreements), access swaps for investments in China and India, master confirmations for equity derivatives and repurchase agreements
  • Collateral and credit agreements, including tri-party agreements with custodians

Commodities

Our commodities law practice regularly advises clients on Commodity Futures Trading Commission and National Futures Association registration, regulation and compliance issues, and counsels commodity pool operators and commodity trading advisors on product design, fund formation, marketing, negotiations and documentation. We have advised numerous clients on the implications of financial reform initiatives and initiatives by the Commodity Futures Trading Commission, including harmonization of the rules governing mutual funds that are also commodity pools, the inclusion of swaps as commodity interests, changes in position limits and aggregation, increased reporting, the rescission of registration exemptions, and restrictions on off-exchange foreign currency and metals transactions.