Ranking tables
Derivatives | Global
USA
Rankings overview for Departments
Bracewell LLP 2 Years Ranked
Clifford Chance US LLP 5 Years Ranked
Jones Day 3 Years Ranked
Morgan, Lewis & Bockius LLP 3 Years Ranked
Morrison Foerster 5 Years Ranked- Foley & Lardner LLP
- Haynes and Boone, LLP
- Steptoe LLP
All Departments profiles
Band 1

1 Cleary Gottlieb Steen & Hamilton LLPDerivatives2026 | Band 1 | 5 Years RankedCleary Gottlieb Steen & Hamilton LLP boasts a deep bench with expertise across both transactional and regulatory derivatives matters. The derivatives practice is able to marshal experience tackling bankruptcy issues in relation to derivatives, including swaps, and has an excellent track record advising on the Dodd-Frank Act. The attorneys are recognized for their skill working on cross-border and international transactions and frequently draw on the expertise of colleagues based in locations across the globe.
1 Davis Polk & Wardwell LLPDerivatives2026 | Band 1 | 5 Years RankedDavis Polk & Wardwell LLP boasts a broad-ranging practice, able to provide a full-service offering in all types of derivatives, with a leading reputation for its representation of issuers and underwriters in transactions. The firm's extensive deal experience includes OTC derivatives, repurchases and funded-collar transactions. The attorneys are particularly active advising on margin loans and back-leverage financings and draw upon the firm's global network in providing high end advice to major financial institutions, hedge funds and derivatives organizations.
1 Latham & Watkins LLPDerivatives2026 | Band 1 | 5 Years RankedLatham & Watkins LLP offers a well-regarded transactional team with a notable focus on OTC derivatives and equity-linked products. The firm is also able to offer guidance on regulatory and enforcement issues, including the Volcker Rule. The attorneys in the derivatives practice are able to draw on the firm's significant international presence when acting for clients in transactions, both on the buy- and sell-side.
1 Sullivan & Cromwell LLPDerivatives2026 | Band 1 | 5 Years RankedSullivan & Cromwell LLP has a growing practice with extensive experience working in the banking and financial sectors, which gives the team an enviable overview of market trends and developments. The attorneys are active advising on commodity-linked products and other derivatives, winning recognition for their strength in the full gamut of matters, encompassing transactional, regulatory and enforcement mandates. In particular, the firm stands out as a leading derivatives practice in the digital asset market. Clients include clearing houses, hedge funds and investment banks, as well as exchange and trading platforms.
1 Willkie Farr & Gallagher LLPDerivatives2026 | Band 1 | 5 Years RankedWillkie Farr & Gallagher LLP offer a well-regarded practice with derivatives experience spanning regulatory, enforcement and transactional matters. The firm possesses niche expertise in physical commodities, particularly relating to the energy market. The attorneys are adept at representing clients before regulatory bodies such as the CFTC and NFA, with clients including lenders, swap dealers and energy companies, among others.
Band 2

2 A&O ShearmanDerivatives2026 | Band 2 | 10 Years RankedA&O Shearman is well placed to advise on a variety of complex regulatory concerns thanks to its significant global presence and broad market awareness. The firm is able to provide counsel on the full range of asset classes covered by the OTC derivatives markets, and regularly takes a leading role in developing ISDA documentation. The attorneys offer a wealth of experience advising clients on matters concerning the Dodd-Frank Act, including the Volcker Rule, and assisting clients with the European Market Infrastructure Regulation. The firm is equally adept at providing counsel on transactions, including advising on equity and credit derivatives, as well as related matters such as repurchase agreements, and represents the full spectrum of significant players in these transactions, including banks, hedge funds and corporate entities. The firm has expertise in the growing digital asset market and is also able to draw on notable cross-border experience.
2 Cadwalader, Wickersham & Taft LLPDerivatives2026 | Band 2 | 5 Years RankedCadwalader, Wickersham & Taft LLP provide high quality representation of buyers and sellers in high value derivatives transactions. In addition to advising on cleared and uncleared OTC derivatives, the firm is also noted for its skill in developing innovative procedures and structures in light of ongoing regulatory and market developments, with areas of focus including advising financial institutions on the impact of the Volcker Rule and assisting clients with LIBOR cessation.
2 Fried, Frank, Harris, Shriver & Jacobson LLPDerivatives2026 | Band 2 | 5 Years RankedFried, Frank, Harris, Shriver & Jacobson LLP has a versatile transactional and regulatory practice boasting strengths in OTC and exchange-traded derivatives. It is frequently sought for its regulatory expertise, which includes handling matters before the SEC and CFTC. Clients range from asset managers to major corporates across a broad range of industries, including emerging sectors.
2 KattenDerivatives2026 | Band 2 | 5 Years RankedKatten is recognized in the market as particularly strong in dealing with regulatory issues surrounding futures trading, with expertise in cleared and uncleared swaps. The derivatives practice utilizes the firm's bankruptcy and tax and litigation specialists to provide a rounded service. Services are available to a range of different clients, including clearing houses and end users, among others. The firm offers notable expertise in both OTC and exchange-traded derivatives.
2 Sidley Austin LLPDerivatives2026 | Band 2 | 5 Years RankedSidley Austin LLP is a strong team with a comprehensive global practice which integrates its transactional, regulatory compliance and regulatory enforcement operations into a broad single-service derivatives offering, advising clients on both the buy- and sell-sides. The firm also provides counsel for exchanges and clearing houses on trading protocols and the registration process.
Band 3

3 HSF KramerDerivatives2026 | Band 3 | 5 Years RankedHSF Kramer is particularly recognized for its knowledge of credit derivatives, a market in which it has a noted experience. The firm is frequently active in the representation of buy-side clients and demonstrates strength in derivatives-related transactions, including repurchase agreements and total return swaps.
Herbert Smith Freehills LLP and Kramer Levin Naftalis & Frankel LLP combined on June 1st to form HSF Kramer.

3 Jenner & Block LLPDerivatives2026 | Band 3 | 5 Years RankedJenner & Block LLP has a strong litigation practice able to assist with investigations, both internal and external, across the derivatives market. The firm's capabilities also include advising on derivatives matters in bankruptcy proceedings. Trade associations and high profile companies number among its clients.
3 LinklatersDerivatives2026 | Band 3 | 5 Years RankedLinklaters offer an active OTC derivatives practice able to represent buy- and sell-side clients. The group is widely regarded for its knowledge of market developments, including in-depth knowledge of decisions and documentation produced by trade associations, most notably the International Swaps and Derivatives Association. In addition to strong USA regulatory expertise, the practice also has knowledge of EMIR and MiFID II, making it a popular choice for clients requiring guidance on cross-border transaction. The firm's international capabilities are bolstered by highly regarded international teams in other jurisdictions.
3 Mayer Brown LLPDerivatives2026 | Band 3 | 5 Years RankedMayer Brown LLP frequently provides regulatory advice to trade associations, asset managers and banks on issues concerning Dodd-Frank regulations, including the Volcker Rule. The firm regularly advises on enforcement matters involving the CFTC and CME. It also handles extensive transactional work for banking clients and offers notable experience advising on the netting process. Attorneys from Mayer Brown work closely with colleagues from the securitization, leveraged finance and bankruptcy teams in providing clients with a comprehensive service and the practice also benefits from a strong network of international offices.
3 Skadden, Arps, Slate, Meagher & Flom LLP & AffiliatesDerivatives2026 | Band 3 | 5 Years RankedSkadden, Arps, Slate, Meagher & Flom LLP & Affiliates is a distinguished team of regulatory and transactional specialists advising on the full range of OTC derivatives, with increasing visibility in equity derivatives, especially relating to convertible notes, both domestic and cross-border in nature. The firm possesses renowned strength in enforcement and litigation, including representing clients before the SEC, CFTC, FERC and DOJ. It typically represents issuers but is equally adept at advising financial institutions.
3 White & Case LLPDerivatives2026 | Band 3 | 5 Years RankedWhite & Case LLP handles a broad range of derivatives matters, from assisting with transactions, to providing regulatory advice. Clients include leading financial institutions and household-name companies. The firm is supported by a network of international offices and is a destination practice for cross-border derivatives mandates.
3 WilmerHaleDerivatives2026 | Band 3 | 5 Years RankedWilmerHale possesses a notable derivatives practice with capabilities across a broad range of asset classes. The firm's impressive regulatory capabilities include advising on US and international futures trading compliance. It is well placed to represent clients in enforcement actions before the CFTC and SEC.
Band 4

4 Bracewell LLPDerivatives2026 | Band 4 | 2 Years RankedBracewell LLP is particularly noted for its unique strength on energy derivative matters. The firm has a client base including energy companies, banks and commodity trading advisers. The team frequently appears before the CFTC and advises on compliance matters.

4 Clifford Chance US LLPDerivatives2026 | Band 4 | 5 Years RankedClifford Chance LLP has a recognized team able to draw upon its significant global presence when advising clients in the USA. The firm focuses on innovative structured transactions, with notable experience handling foreign exchange issues related to derivatives transactions. It also possesses recognized abilities in the regulatory space, regularly providing market opinions to trade associations.
4 Jones DayDerivatives2026 | Band 4 | 3 Years RankedJones Day offers a strong nationwide derivatives and commodities practice from its New York office. Attorneys are regularly called upon to act for major underwriters and financial institutions on equity derivatives matters. The firm also possesses notable expertise for clients navigating complex enforcement and regulatory questions.
4 Morgan, Lewis & Bockius LLPDerivatives2026 | Band 4 | 3 Years RankedMorgan, Lewis & Bockius LLP is recognized for its strong nationwide derivatives practice. The attorneys operate on a range of transactional and regulatory matters. The group has shown particular aptitude for matters pertaining to foreign exchange issues. Its notable clients include large financial entities and asset managers.
4 Morrison FoersterDerivatives2026 | Band 4 | 5 Years RankedMorrison Foerster is well versed in both regulatory matters and transactions. The firm advises clients on Dodd-Frank regulations, including the Volcker Rule, and assists with equity and credit-linked mandates. It is also well equipped to offer support on the tax aspects of derivative transactions.