Full Description
Welcome to the 2025
edition of ICLG - Derivatives. Travers
Smith is delighted to continue to serve as the guide's Contributing Editor
following the success of previous years' publications.
The challenges presented by
this year's economic conditions and geopolitical turbulence, combined with
rapidly evolving financial products and an ever-changing regulatory landscape,
make it essential for market participants to keep abreast of the latest
developments in the derivatives markets and trends in various jurisdictions and
to structure transactions to comply with regulation. We hope you find this guide informative and
engaging. Thank you to all the
contributors who have generously shared their expertise and knowledge.
Our intention is that
this publication continues to be a comprehensive and valued guide to
derivatives and we encourage your suggestions on how to grow and improve future
editions.
Contents
Expert Analysis Chapters
1
Trends in the Derivatives Market and How Recent Fintech Developments are Reshaping this Space
Jonathan Gilmour & Tom Purkiss, Travers Smith LLP
8
Close-out Under the 1992 and 2002 ISDA Master Agreements
Donna Parisi, Azam Aziz, Daniel Laguardia & Geoffrey Goldman, A&O Shearman
20
Resurgence of Loan Total Return Swaps
Meyer C. Dworkin & Michele Babkine, Davis Polk & Wardwell LLP
24
The Evolution of Credit Default Swaps
Fabien Carruzzo & Nick May, Herbert Smith Freehills Kramer LLP
Q&A Chapters
30
Canada
Ahmad Adam, Raquel Moses & Eugene Yeung, Miller Thomson LLP
39
Cayman Islands
Tina Meigh, Hailee Robinson & Lucy Sleep, Maples Group
44
Cyprus
Angeliki Epaminonda & Angelos Onisiforou, Patrikios Legal
53
England & Wales
Jonathan Gilmour & Elinor Samuel, Travers Smith LLP
63
France
Jean-François Adelle, Jeantet AARPI
72
Hong Kong
Vincent Sum & Sylvia Leung, Mayer Brown Hong Kong LLP
83
India
Mona Bhide, Dave & Girish & Co
89
Ireland
Fergus Gillen, Éamon Ó Cuív & Rachel Cosgrove, McCann FitzGerald LLP
95
Japan
Ichiro Oya, Masayuki Fukuda, Hideaki Suda & Tsutomu Endo, Nagashima Ohno & Tsunematsu
102
Kenya
Lee Mutunga, Kimberly Chelsea Kwesiga, Michael Kiprono ChirChir & Joseph Mwine, Lee, Kwesiga & Kiprono Advocates LLP
107
Luxembourg
Andreas Heinzmann, Valerio Scollo & Angela Permunian, GSK Stockmann
114
Netherlands
Nicole Batist & Marc Keijzer, Keijzer & Cie
123
Spain
Jaime de la Torre & Jaime Juan (JJ) Rodríguez, Cuatrecasas
133
USA
Manuel Frey & Andrew MacLachlan, Paul, Weiss, Rifkind, Wharton & Garrison LLP
