Derivatives Laws and Regulations for Alternative Asset Managers

Australia

Chapters & Answers

15 chapters with 62 sections

1.1

Overview of the Derivatives Market

Australia's derivatives market is integral to its financial system, with activity concentrated in Sydney as the largest financial centre in Australia and the headquarter for many major financial institutions as well as the Australian Securities Exchange (ASX). It supports a variety of derivatives, with the key asset classes being equities, interest rates, credit, commodities (including agricultural products such as wheat and wool, metals and energy products) and foreign exchange. Participants include institutional investors, banks, corporations and hedge funds. Over-thecounter (OTC) derivatives dominate the market, alongside exchange-traded derivatives which are traded on platforms like the ASX.

1.2

Historical Context and Market Evolution

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Contributing Editors

Louise McCoach

Dentons

With over 25 years’ experience, Louise is a leading financial institutions lawyer in the Sydney office specializing in securitization, debt capital markets, structured finance, derivatives and sustainable finance. Louise is a trusted advisor for both national and international clients across range of sectors including financial institutions, corporate, infrastructure and energy. She has acted on a wide range of domestic and cross border securitization and debt capital markets transactions and is highly regarded for her structuring work on highly complex and bespoke derivatives. Louise's securitization experience includes acting for dealers and issuers including major Australian trading banks and investment banks on a range of listed and unlisted domestic, euro, global and privately placed RMBS and asset-backed securitization transactions. Louise has advised on a number of world-firsts, including the first foreign issue into the US under the new Reg AB rules, the first grain production hedge and the largest synthetic securitization of insurance-linked receivables. Louise has also ioneered innovations in the use of prepayment structures for ACCU financing and advised on a range of ESG-linked securitization, note and derivatives products. She has a strong profile in the Australian capital markets and is an active member of several industry groups. Louise is valued for her legal knowledge and commercial acumen. Clients value her focus on finding solutions, her sophisticated legal advice, her responsiveness and her ability to work collaboratively.

Derivatives Laws and Regulations for Alternative Asset Managers

Chapters & Answers

Introduction

Overview of the Derivatives Market

Historical Context and Market Evolution

Regulatory Framework

Authorization and Licensing

Trading and Execution

Mandatory Reporting of OTC Derivatives

Mandatory Clearing of OTC Derivatives

Clearing and Settlement

Reporting and Disclosure

Risk Mitigation

Contractual Framework

Conduct and Compliance

Taxation

Cross Border Considerations

Dispute Resolution

Market Trends