International Derivatives Law considers the law and practice of the international derivatives markets. It has a distinctly practical focus. A key objective is to provide students with skills they can apply in legal practice.

Principal topics of the subject will include:

• Derivatives markets generally (exchange-traded, over-the-counter and embedded derivatives) and their commercial drivers and legal risks, on central clearing in practice
• Regulation of international derivatives markets and their key risks
• The structure, mechanics, key features and pitfalls of ISDA derivatives documentation
• Derivative products (ranging from plain interest rate derivatives to credit derivatives and niche products such as weather and emission trading derivatives)
• The interrelationship between derivatives and other financial products (the use and documentation of swaps in structured finance, for instance securitisation and covered bonds
• Analysis of the role of derivatives, especially credit derivatives, in sovereign debt and hedge fund practices
• The risk of mis-selling derivative products by financial institutions
• Explanation of the role derivatives can play in international sustainable finance.