Financial Markets & Derivatives

Henry Davis York's highly regarded and experienced experts understand the complexity of the issues involved in financial markets and derivatives.

We are at the forefront of regulatory developments in this complex and continuously evolving area.

Active industry involvement

We are active in the financial markets industry through our long-term involvement in leading industry associations in Australia and overseas.

These include the Futures & Options Association (UK), Futures Industry Association (USA), Australian Financial Markets Association (AFMA) and the Australian chapter of the Alternative Investment Management Association. We have made representations on behalf of our clients to regulators such as ASIC, the Reserve Bank of Australia and Treasury. We also regularly participate in the Financial Services Council's regulatory working groups.

Our demonstrated expertise in financial markets and derivatives includes:

• establishing new derivatives and securities businesses in Australia
• advising on Chapter 7 of the Corporations Act
• financial services licensing and disclosure
• derivatives documentation
• advice on the development and offering new derivatives and other financial products
• regulatory issues including approval of new markets and clearing facilities
• regulatory and disciplinary representation before ASIC, ASX and ASX 24, and
• mergers and acquisitions and business restructures for derivatives and securities businesses.

The Clearing Corporation/ICE Group

Adviser to the clearing arm of Chicago-based ICE Group on its application to ASIC to conduct business in Australia and on its negotiation for the necessary approvals from the Reserve Bank of Australia.

UBS AG

Acted for UBS AG on the Australian aspects of its acquisition of a global exchange-traded derivatives business, and ongoing advice on trading, customer documentation and netting issues.

OTC derivatives issuers

Regularly advising several over the counter derivatives issuers on licensing, disclosure and ongoing compliance requirements and making representations to regulators on their behalf.

Leading US Futures Exchange

Advised a leading US exchange on its application for an Australian market licence which included responsibility for liaison with ASIC and with Treasury during all major stages of the licence application process.

Australian investment bank

Acted for a major Australian investment bank on proposed procedures for acquiring an interest in Australian and New Zealand electricity markets.

Water, Energy, and Weather Derivatives Products and Markets

Advising several participants in Australian, New Zealand, UK and European markets for these innovative products; including market licensing and counterparty risk issues.

GlobalCoal Limited

Ongoing advice regarding legal issues relating to structure and operation of electronic commodity markets and related documentation.

Major Chinese Institutional Banks

Acted to advise on derivatives documentation, licensing and compliance issues and structure of Australian business.