Fred Chang
Financial Services, International
Derivatives
Rimon’s Financial Services team represents proprietary trading firms, investment funds, traditional asset managers, and institutional investors in structuring and documenting a wide variety of derivatives transactions.
Rimon collaborates with clients in structuring and documentation of over-the-counter derivatives products, including complex instruments based on credit, commodity, equity, debt, interest rate, and foreign exchange products and indexes; total return swaps; and forward and option agreements. We also assist with negotiation of securities financing arrangements, including repurchase agreements, securities lending agreements, prime brokerage agreements, and master netting agreements.
Rimon also assists clients with the documentation of bank loan and bankruptcy claims trades and related regulatory and legal issues.
Our attorneys intercede with counterparties on behalf of our clients to avoid termination of derivatives transactions due to significant net asset value decline, and address disputes with counterparties involving collateral valuation, ISDA events of default and early terminations, secondary loan trading, novations, and fund liquidations.
We counsel clients in navigating the impact of Dodd-Frank Act and the EMIR on cross-border derivatives transactions, including the negotiation and documentation of arrangements with central counterparties and swap execution facilities. We also advise clients on the greatly expanded regulatory compliance requirements of this fast-changing area and assist clients with anticipating regulatory changes and required responses to information and agreement amendment requests.
Representative Matters
Our attorneys have worked on the following matters:
- Ongoing advice to alternative investment funds on the impact of Dodd-Frank Act and EMIR relating to derivatives transactions and trading arrangements, including negotiation of clearing agreements, swap execution facility arrangements, documentation amendments, and new information sharing requirements
- Structured and negotiated multi-million-dollar total return swap trading platforms on behalf of a credit fund
- Counseled several start-up funds with the selection of counterparties and negotiated all trading documentation with respect to fund launches
- Advised credit focused hedge funds with respect to specific credit derivative transactions and the implications of provisions contained in the underlying credits’ obligations
- Negotiated mortgage-based repurchase facility on behalf of an asset-based lending investment fund
- Assisted several private equity funds with respect to hedging credit facility obligations and large asset purchases
