Kathryn Trkla

Experience

Kathryn (Katie) Trkla works on a variety of matters for derivatives exchanges and clearing houses (domestic and foreign), futures commission merchants and securities brokerage firms, institutional investors, professional trading firms, commercial hedgers, and other clients. Katie has close to 40 years of experience in the derivatives and securities industries, including 11 years with the Chicago Board of Trade (CBOT), where she was senior vice president and associate general counsel before joining Foley in 2000. She is a partner in the firm’s financial markets regulatory practice within the Securities Enforcement & Litigation Practice; the Business Law Department; the Energy and Innovative Technologies Sectors; the Digital Assets, Web3 & NFTs (DAWN) practice; and the Environmental, Social, and Corporate Governance (ESG) Team.

Katie’s experience includes representing clients on matters before the Commodity Futures Trading Commission, Securities and Exchange Commission, and self-regulatory organizations; analyzing regulatory proposals; counseling clients on the implications of legislative and rule changes; and providing general regulatory counsel. Her deep experience and background qualify her to provide a broad and unique perspective on the issues and regulations facing the financial markets and market participants.

Katie has a thorough understanding of the regulation of derivatives clearing, protection of customer funds, and issues involving commodity broker bankruptcies. She assists with drafting clearing house rules and rule changes, and analyzes the enforceability of clearing house rules. She counsels clients on differences in treatment and protection of funds associated with cleared versus non-cleared derivatives transactions and clearing of swaps versus futures.

Along with a Foley colleague, she served as special commodity counsel to the trustee in the PFG commodity broker bankruptcy. As co-chair of the ABA Part 190 Subcommittee comprised of members of the ABA Derivatives & Futures Law and Business Bankruptcy Committees, Katie co-led the project to draft “model” comprehensive revisions to the CFTC Part 190 Commodity Broker Bankruptcy Rules, which formed the foundation for the comprehensive amendments to Part 190 that the CFTC approved in December 2020.