Commodities, Futures & Derivatives

Our Commodities, Futures and Derivatives team brings an unparalleled depth of knowledge, experience, and perspective.  Our group includes former federal prosecutors and CFTC enforcement attorneys, who previously held senior roles as the Chief Regulatory Officer of NYSE Liffe US, Chief Trial Attorney with the CFTC's Division of Enforcement, DOJ Criminal Division Liaison to the CFTC and FERC, and Senior Associate Director and Associate Director of the SEC's Division of Market Regulation (now the Division of Trading and Markets).  The breadth of the team's specialized experience from serving in these roles provides keen insight and perspectives, which assist clients in a cost-effective and pragmatic manner. 

The group has handled the full spectrum of legal and regulatory issues that arise in connection with structuring, implementing, offering, and trading commodities and derivatives, as well as advisory, litigation, and enforcement matters relating to these products.  Our lawyers represent and advise domestic and international financial institutions (including futures commission merchants, swap dealers, swap execution facilities, commodity trading advisors, commodity pool operators, proprietary trading firms, derivatives clearing organizations, exchanges, brokerage firms, and banks) and individuals in investigations, examinations, enforcement actions, and litigation commenced by the Department of Justice, Commodity Futures Trading Commission, Federal Energy Regulatory Commission, Securities and Exchange Commission, National Futures Association, Financial Industry Regulatory Authority, exchanges, and other self-regulatory organizations. 

We also provide practical and effective advice and counseling regarding legal, regulatory, and compliance issues. 

Commodity Corner Blog: For regulatory and enforcement updates and trends – along with insightful analysis and perspectives - in the commodities, futures, and derivatives area, we invite you to visit Murphy & McGonigle’s www.Commodity-Corner.com.   

Looking Forward

As economic, trade, climate, geo-political and political uncertainties continue to mount, derivatives use should continue to grow as market participants seek either to hedge against these unknowns or profit from the resulting increased volatility. To some degree, regulators are taking proactive steps to stay abreast of the issues that are likely to arise from increased use of derivatives and volatility. For example, the CFTC has formed a Climate Advisory Committee. Nonetheless, as new participants come to the derivatives markets along with novel products and services, the law and regulations are unlikely to keep up and market participants will need the advice of creative attorneys with deep market experience and knowledge to help them navigate what will likely be the uncharted waters that lie ahead.