Derivatives and trading

Overview

We represent hedge funds, corporate treasuries, financial institutions, managed account platforms, asset managers and high-net-worth individuals in structuring, negotiating and executing complex and bespoke derivative instruments.

We are a key legal adviser in this area, fielding a team of specialist lawyers whose capacity, experience and market knowledge, particularly in relation to hedge fund finance and trading, is unrivaled.

We advise the main buy-side brokers and represent a diverse client base on the sell-side on a wide range of products including swaps, options, forwards and repos, covering interest rate, fixed income, currency, commodity, equity, credit, basket and index underliers.

We also structure and negotiate structured products, total return swaps and mortgage-backed and asset-backed derivatives. The team specialises in prime brokerage, custody, securities lending and margin financing matters, exchange traded derivatives and central clearing generally.

We act for over 40 of the world's leading hedge funds, several of the largest managed account platforms and one of the market-leading broker dealers. Many in the team have substantial in-house experience from pre-eminent investment banks, and as a result we have a broad visibility of what the market negotiates and a strong commercial understanding of our clients' businesses.

Recognition

  • "They listen and make an assessment of how you want to work with them, and work closely according to that."

    Chambers UK 2017

  • "The derivatives team give you the answer quickly and succinctly and with a minimum of legalese. They have a deep understanding of the market and the commercial drivers for both buy-side and sell-side."

    Chambers UK 2017

  • "They bring a fresh approach: they think about solutions in a different way and get excited about the work we give them."

    Chambers UK 2016

  • "Macfarlanes LLP provides 'high quality service tailored to the buy-side'."

    The UK Legal 500 2015