Tag Archives: swap

Bitcoin and the CFTC: “Spot”ing the Jurisdictional Hook

By Todd Zerega and Tom Watterson In the past week, Bitcoin derivatives have been making news. A Bloomberg article highlighted Bitcoin derivatives and platforms for such products, and in an interview on February 28, the CME Group chairman and president, Terry Duffy, announced that the CME Group is beginning to take a preliminary look into … Continue Reading

Bankruptcy Code “Safe Harbor” Provisions Do Not Protect Contractual Right to Triangular Setoff

By Todd Zerega and Luke Sizemore CASE SNAPSHOT Prior to filing for bankruptcy, a debtor entered into a repurchase agreement with an investment bank and a swap agreement with an affiliate of the investment bank. Following commencement of the debtor’s bankruptcy case, the investment bank and its affiliate effectuated a triangular setoff whereby the banks … Continue Reading