This often involves complex structures, and consequently the provision of advice requires thorough understanding of how the financial infrastructure works in practice, and of the roles and functions of various systems and operators. 

Our clients in this field include some of the largest operators in the financial infrastructure, nationally as well as internationally, and therefore several of our clients have also been identified as systemically important at Danish, European and global level respectively.

Examples of our advice:

• rules on settlement and clearing of payments and securities
• advice on the regulatory requirements in connection with derivatives trading, including EMIR clearing requirements and the provision of security etc
• agreements on netting and final settlement and the requirements to such agreements
• depositary bank agreements and the rules governing depositary banks and sub-depositary banks
• securities centres and central counterparties (CCPs) and the rules to which they are  subject in connection with the issue of securities or demands for securities as collateral

Our advice in particular includes the rules of the Danish Capital Markets Act, SFD, the Financial Collateral Directive, Central Securities Depositories (CSDR), the European Market Infrastructure Regulation (EMIR) and the Securities Finance Transaction Regulation (SFTR).