Derivatives Law and Practice

Subject 730-628 (2008)

Note: This is an archived Handbook entry from 2008. Search for this in the current handbook Search for this in the current handbook

Credit Points: 12.500
Level: Graduate/Postgraduate
Dates & Locations:

This subject has the following teaching availabilities in 2008:

Summer Term, - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period not applicable
Assessment Period End not applicable
Last date to Self-Enrol not applicable
Census Date not applicable
Last date to Withdraw without fail not applicable


Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: 24 - 26 contact hours per subject.
Total Time Commitment: The time commitment for this subject depends on the candidate's background and experience.
Prerequisites: N.A.
Corequisites: N.A.
Recommended Background Knowledge: None
Non Allowed Subjects: None
Core Participation Requirements: N.A.

Coordinator

Mr J J de Vries Robbe, Dr M Haines
Subject Overview:

Objectives:

A candidate who has successfully completed the subject should:

  • Understand the commercial drivers and legal risks of derivatives generally
  • Be aware of the pitfalls in negotiating derivatives documentation
  • Understand derivatives regulation, both on a national and an international level
  • Understand basic, advanced and novel derivatives products
  • Be able to analyse the differences between the various derivatives markets
  • Understand the interrelationship of derivatives to structured finance.

Syllabus:

This subject considers the law and regulation of derivatives and derivatives markets.

Principal topics will include:

  • The nature of futures, options and swaps and their offshoots
  • Derivatives markets (exchange traded, over-the-counter, embedded) and derivatives products (plain vanilla products such as interest rate and currency swaps to credit derivatives, equity derivatives)
  • Derivatives documentation generally (Master Agreements: ISDA, GMRA, ISLA), similarities and differences
  • Regulation of derivatives and derivatives markets (Australian and international)
  • Internal procedures controlling derivatives risks for financial institutions, trading practices
  • Derivatives and finance: Function of finance swaps, issues in drafting, interplay with structured finance documentation
  • Innovative derivatives and their use in the financial markets, including credit derivatives and property derivatives.
Assessment:
  • Class participation (20%)
    Research paper 8,000 words (80%) (22 May) (topic approved by the subject coordinator)
Prescribed Texts: Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Please visit the subject homepage on the Melbourne Law Masters website by following the link at the bottom of this subject entry.
Breadth Options:

This subject is not available as a breadth subject.
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills: Please see the Subject Objectives for this information.
Links to further information: 730-628Derivatives Law and PracticeMelbourne Law Masters, postgraduate law, post-graduate law, graduate law2008

Objectives:

A candidate who has successfully completed the subject should:

  • Understand the commercial drivers and legal risks of derivatives generally
  • Be aware of the pitfalls in negotiating derivatives documentation
  • Understand derivatives regulation, both on a national and an international level
  • Understand basic, advanced and novel derivatives products
  • Be able to analyse the differences between the various derivatives markets
  • Understand the interrelationship of derivatives to structured finance.

Syllabus:

This subject considers the law and regulation of derivatives and derivatives markets.

Principal topics will include:

  • The nature of futures, options and swaps and their offshoots
  • Derivatives markets (exchange traded, over-the-counter, embedded) and derivatives products (plain vanilla products such as interest rate and currency swaps to credit derivatives, equity derivatives)
  • Derivatives documentation generally (Master Agreements: ISDA, GMRA, ISLA), similarities and differences
  • Regulation of derivatives and derivatives markets (Australian and international)
  • Internal procedures controlling derivatives risks for financial institutions, trading practices
  • Derivatives and finance: Function of finance swaps, issues in drafting, interplay with structured finance documentation
  • Innovative derivatives and their use in the financial markets, including credit derivatives and property derivatives.
  • Class participation (20%)
    Research paper 8,000 words (80%) (22 May) (topic approved by the subject coordinator)
N.A.N.A.24 - 26 contact hours per subject.Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Please visit the subject homepage on the Melbourne Law Masters website by following the link at the bottom of this subject entry.Please see the Subject Objectives for this information.The time commitment for this subject depends on the candidate's background and experience.N.A.Please see the subject homepage on the Melbourne Law Masters website for up to date timetable information.Mr J J de Vries Robbe, Dr M HainesLawFor the latest information on this subject, please visit: http://www.masters.law.unimelb.edu.au/subject/730628P12.500SummerNLawLaw730-628

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