Derivatives, Repos & Securities LendingFinancial Law
NautaDutilh builds on many years’ experience with (OTC) derivatives, repurchase transactions and securities lending. We are the author of major industry standard jurisdiction opinions, including the ISDA Collateral Opinion on the ISDA Credit Support Documents, the ISDA / FIA Cleared Opinion, the ISDA CM Reliance Opinion and the ISDA Client Reliance Opinion for the Netherlands and the annual ICMA / ISLA jurisdiction opinions for the Netherlands.
We regularly assist ISDA and many international and Dutch market parties in respect of their dealings in derivatives, repo's, securities lending, prime brokerage and other financial products. We act for national and international financial institutions on both the sell-side and the buy-side.
As a leading firm in the regulatory area, we are well-equipped to contribute in-depth knowledge of the regulatory aspects of derivatives, repurchase transactions and securities lending such as EMIR (II), Securities Financing Transactions (SFT) Regulation, MiFID II / MiFIR, Benchmark Regulation, BRRD (II) / SRM (II) and other regulations impacting such financial products, as well as on the contracts documenting such derivatives and other products. This allows us to advise our clients on a transaction basis as well as on the regulatory impact on the structuring of derivatives products.
Our derivatives, repurchase transactions and securities lending services are broad and include the following:
- Drafting and negotiating relevant documentation such as master agreements, collateral documentation (such as VM / IM CSAs and escrow agreements) and clearing documentation;
- Supervising transactions;
- Structuring tailor-made solutions for complex transactions;
- Supervising the development of structured products;
- Advising and providing legal opinions on the enforceability of documentation and counterparty capacity (including specific, regulated counterparties such as semi-public bodies, governments, investment funds (AIF / UCITS) and pension funds);
- Supervising close-outs;
- Resolving issues relating to securities, offsetting and netting;
- Promoting the interests of market parties in the context of national and European regulations;
- Conducting legal proceedings; and
- Providing advice on the impact of supervisory rules such as the BRRD (II) / SRM (II).
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What others say
NautaDutilh’s team has "a good relationship with the regulator and access to all levels" and is "proactive and provides solutions before issues become problems".
The Legal 500 | 2019
NautaDutilh’s "excellent, quick and pragmatic" department is highly regarded by clients for its "in-depth knowledge".
The Legal 500 | 2018
"Very good knowledge of financial law and regulatory matters," adding that "they know the sector and the regulators and work for multiple clients in that field, which adds to the value of their advice. They work fast and are dedicated."
Chambers | 2018