Capital Markets: Derivatives & Structured Products (International Firms) | Global

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. A prominent practice advising on regulatory developments pertaining to OTC clearing and exchange trading, it is 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. The team is active on cross-border loan repackaging and the issuance of repackaged notes, as well as advising on covered bonds. It 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 CK Hutchison, Citibank and Bond Connect Company.

A&O Shearman offers a hugely respected Hong Kong-based team advising on a range of complex and novel cross-border transactions, including structured credit and structured equity matters. The team is also highly active advising on margin finance, syndicated loans and bond repackaging matters, and very experienced in advising on OTC derivatives regulations, with particular expertise in issues relating to the implementation of the European Market Infrastructure Regulation. The team is also well versed in credit default and total return swap structures, as well as collar financing. It continues to have strong relationships with regulators, including the ISDA, and has a growing practice in the PRC. The firm advises an enviable list of leading international banks, as well as Chinese corporates and funds. Key clients include Australia and New Zealand Banking Group (ANZ), Huatai Securities and Guotai Junan. On 1st May 2024, Allen & Overy and Shearman & Sterling merged to form A&O Shearman.

Clifford Chance's Hong Kong-based derivatives and structured products team stands out for its work on regulatory developments, especially in relation to derivatives reform and legislation across the Asia-Pacific region, including the liberalisation of the Chinese markets. The team is highly knowledgeable regarding exchange-traded and OTC derivatives issues and is particularly noted for structured credit transactions and collar option financing. It is sought after by both international and domestic investment banks, private equity sponsors and funds.

CMS offers a newly strengthened team boasting deep expertise in both derivatives and structured products and securitisation mandates. The team is frequently called on to handle derivatives restructuring and structured financing, as well as advising on various asset and mortgage-backed securitisation matters. Key clients include Bank of China International, Hong Kong Capital Finance Corporation and Prudential Hong Kong.