Seward & Kissel’s Derivatives and Structured Products Group is internationally recognized for its depth of expertise and broad market coverage. Our attorneys advise some of the world’s most prominent asset managers and hedge funds, as well as other end-users such as funds of funds and mutual funds, emerging managers, institutional investors and corporates with respect to complex derivatives and structured products transactions, derivatives regulation and compliance and trading relationship documentation (such ISDA Master Agreements and prime brokerage arrangements).

Our derivatives and structured products practice works together with our market-leading investment management, private funds and asset securitization practices. Together, these comprise more than 55 lawyers specializing in advising financial institutions, whose collective experience and thorough understanding of the financial markets allows us to provide the best solutions for our clients. Working closely with our colleagues in the CLO Practice and the Structured Finance Practice, our team is well-equipped to assist clients with the most complex and innovative transactions.

We advise our clients in connection with the structuring, negotiation and documentation of an array of over-the-counter derivative instruments, structured products and repo facilities. Our attorneys draft and review complex derivatives such as credit default swaps and total return swaps that provide synthetic or leveraged exposure to underlying assets of all types, that provide regulatory capital relief to swap dealers and financial institutions (including VAR or liquidity coverage ratio trades), that serve as credit enhancement or other support for structured finance programs, or that otherwise constitute an alternative to direct investments in the securities, commodities or other assets referenced in such derivatives.

Primary areas of expertise in derivatives and structured products include:

  • Loan total return swaps
  • Term repo financing and repo facilities on portfolios of securities, loans or commodities
  • VAR and LCR risk-transfer transactions
  • Structured credit products
  • Repo financing arrangements connected with regulatory risk retention requirements
  • Derivative warrants and equity linked notes
  • Credit default swaps
  • Equity total return swaps
  • Equity variance and volatility swaps Hybrid derivative instruments
  • OTC options on securities and commodities
  • Bond total return swaps

  • Interest rate swaps
  • FX swaps
  • OTC derivatives prime brokerage intermediation
  • Commodity derivatives
  • Bond options
  • Cryptocurrency, blockchain and DLT products and platforms
  • Collateral structures and credit risk mitigation arrangements
  • Term sheets and templates for ISDA, prime brokerage, clearing, repo and forward trading arrangements
  • Benchmarking of key terms against the market
  • Compliance matrix creation and maintenance