The Swap Report is managed by a team of Reed Smith attorneys dedicated to discussing regulatory and transactional issues related to derivatives.
Ilene is a partner in the Financial Industry Group in the New York office. She advises on, negotiates, and structures derivatives transactions and related documentation. She represents both buyside and sellside clients and works on onshore and offshore equity derivatives transactions, including total return swaps, hedging and monetization strategies, such as collars, collar/loans, and prepaid variable forwards, volatility and variance swaps, dividend swaps, correlation, and dispersion trades; access products; and customized transactions. She also has an extensive background in fixed income and foreign exchange transactions, including repos, swaps, cross-currency swaps, swaptions, straddles, caps, floors, collars, range accruals, deliverable and non-deliverable FX options and forwards, knock-out and knock-in trades, barrier trades and customized transactions. Ilene works on MCAs, long form Confirmations, ISDA Master Agreements, MRAs, GMRAs, MSFTAs, security account control agreements, and other trading agreements. Ilene also drafted two Protocols for the International Swaps and Derivatives Association (ISDA): the ISDA 2014 Collateral Agreement Negative Interest Protocol and the ISDA 2013 Discontinued Rates Maturities Protocol.
Reed Smith Contributing Partners
Claude is a leading member the firm’s global derivatives practice and brings more than 26 years’ experience in the derivatives markets in Europe, North America, Asia, South America and Africa, both as a lawyer and as a banker. He practices in all aspects of derivatives, both OTC and exchange traded. He advises banks, funds and corporates on the structuring, documentation and regulation of interest rate, FX, credit, equity, commodity and exotic derivatives (including weather, catastrophe and economic variables).
Patty concentrates her practice on corporate governance and compliance, corporate finance and transactional matters, with a focus on representing energy industry clients. She handles matters such as structured commercial transactions, corporate governance and compliance policy development, debt financing, derivatives and M&A transactions, including acquisition of energy contract portfolios.
Craig represents clients in commodity and derivative transactions with a focus on energy transactions. His counsel includes advising on contract structures and credit arrangements in trading and structured, asset-based transactions.
Brett focuses on energy trading and derivatives, and related regulatory and transactional work.
Peter is a partner in the firm’s Energy & Natural Resources Group based in Washington, D.C. Peter focuses his practice on regulatory, compliance and transactional matters relating to commodities, derivatives and securities products regulated by the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC).
Andrea is a member of the Financial Industry Group, practicing in the areas of Commercial Restructuring & Bankruptcy as well as Derivatives & Structured Products, and is a Team Leader of Reed Smith’s Derivatives & Structured Products Group. Andrea is also an adjunct member of the firm’s Energy and Natural Resources Group.
Paul is a partner in the firm’s Energy & Natural Resources Group, where he focuses his practice on the fast-changing and evolving energy and commodity markets—principally related to the business of the physical and financial trading of energy commodities. He has been involved in the regulatory and commercial structuring and restructuring of the energy industry, including the ongoing seismic regulatory changes to the physical, futures and derivatives markets.
Nick is a finance partner who focuses on derivatives, receivables finance, emerging markets and structured finance. He regularly advises on equity derivatives, margin loans, credit derivatives, interest rate and currency hedging, supply chain finance, NPLs, syndicated loans and securitization.
Peter is a transactional lawyer who practices in commodity derivatives, derivatives and structured products and carbon finance. Peter advises on all aspects of over-the-counter, exchange-traded and structured energy derivatives and commodities, including collateral structures in commodity transactions and standby letters of credit.
Reed Smith Contributing Associate
Jim focuses his practice on commodity marketing and trading activities in wholesale and retail energy markets. His experience includes analyzing and reviewing standardized master agreements commonly used in the energy industry, including the ISDA and its various annexes, EEI, and NAESB. He advises on credit structures used to mitigate risks inherent in trading contracts and the use of financial derivatives to mitigate credit and commercial risks.