Capital Markets: Derivatives & Structured Products and Securitisation (International Firms)

Linklaters' deeply resourced structured finance and derivatives team boasts a strong bench advising on margin loans and QFII structures and is hugely influential in the OTC derivatives market. Prominent practice advising on regulatory developments pertaining to OTC clearing and exchange trading. Also highly commended for its standout securitisation practice, which is most notably active in China and is a first port of call for advice on regulatory development. Active on cross-border loan repackaging and the issuance of repackaged notes, as well as advising on covered bonds. Commonly acts for relevant regulators, financial institutions and SOEs. Clients benefit from the firm's joint operation with Zhao Sheng Law Firm. Key clients include BNP Paribas, ISDA and Bond Connect Company.

Liew Chin-Chong is a key driver in Linklaters' derivatives and structured products team in Hong Kong, offering market-leading expertise on all manner of derivatives and structured products-related work. A client reports: "Chong Liew is very, very good; he is technically very strong, very commercial and also aware of non-legal considerations, especially when you are dealing with China." Another client singles him out as an "expert in the field of derivatives and also an expert in PRC financial markets who is valued for his experience and insights in this area."

Soong I-Ping continues to advise on regulatory aspects of derivatives and margin deals. A client says: "She is very competent and has good knowledge of the law, as well as its application."

Karen Lam plays an increasingly important role in Linklaters' derivatives and structured products team, frequently acting for major banks and financial institutions. Of late, she has advised on the issuance of secured notes and covered bonds, as well as on note repackagings.

Stephen Song is an experienced adviser on margin loans and total return swaps. He often acts for syndicated and individual banking clients.

Victor Wan advises on a range of matters from his base in Linklaters' Hong Kong office, including cross-border margin loans and structuring securities packages. A market source emphasises his visibility, stating: "He's everywhere on deals at the moment."