Locke McMurray's practice focuses on derivatives, securitization, and other financial products and spans the full spectrum of transactional, regulatory, and dispute resolution matters. He is a founding member of Jones Day's LIBOR (London Interbank Offered Rate) transition task force and also currently advises numerous clients on the "qualified financial contract" (QFC) regulations and protocol.
Locke regularly counsels clients, including foreign and domestic financial institutions, financial market utilities (FMUs), and corporate clients, on ISDA (International Swaps and Derivatives Association) and other documentation for swaps and other financial products, credit facility hedging and regulation of swaps, security-based swaps, futures, and "commodity pools" under Dodd-Frank and the Commodity Exchange Act. He also advises clients on the regulatory and commercial law status of blockchain "tokens" and participated in a foundational study of public key infrastructure in the early 1990s.
Locke additionally analyzes financial transactions from a litigation perspective, particularly in relation to derivatives termination and valuation questions, the Uniform Commercial Code, fraudulent conveyances, and the rights and obligations of various securitization deal participants, including investors, collateral managers, trustees, and swap counterparties. He has vast experience in rendering legal opinions on a variety of bankruptcy, derivatives, and secured transaction matters.
Prior to Jones Day, Locke spent more than 15 years as in-house counsel at a variety of banks, where he held such roles as global head of legal for rates trading, fixed income and equity derivatives, and securitization, and head of derivatives legal at the Lehman Brothers Chapter 11 estates.
Experience
Speaking Engagements
- April 25, 2019
Jones Day's 2019 Speaker Series - The End Is Near: Are You Prepared for the Cessation of the London Interbank Offered Rate (LIBOR)? - October 24-25, 2017
PLI's Advanced Swaps & Other Derivatives 2017 - October 25-26, 2016
PLI's Advanced Swaps & Other Derivatives 2016 - October 20-21, 2015
PLI's Advanced Swaps & Other Derivatives 2015 - May 7, 2015
Turmoil in the Oil Patch: Risks and Opportunities for Oil & Gas Companies and Investors - April 29, 2015
Turmoil in the Oil Patch: Risks and Opportunities for Oil & Gas Investors and Companies - October 16-17, 2014
PLI’s Advanced Swaps and Other Derivatives 2014 - April 23, 2014
New York City Bar Program: Mortgage Notes & the Future of Home Finance - November 8, 2013
New York City Bar Program: Cross-Border Regulation of Derivatives under Dodd-Frank - October 17-18, 2013
PLI's Advanced Swaps & Other Derivatives 2013 - April 20, 2013
World Bank/ABI: Working Group on Bankruptcy Treatment of Financial Contracts - May 25-26, 2011
Financial Markets Lawyers Group/Financial Markets Law Committee/European Financial Markets Lawyers Group/Financial Law Board - November 30, 2006
SIFMA: Innovations and Trends in Master Agreement Negotiations for Over-the-Counter Markets - November 17, 2005
ISDA: How to Read ISDA Netting and Collateral Opinions - November 19, 2004
BMA: Improving Master Agreement & Related Trading Agreement Negotiations - June 10, 2004
Financial Markets Lawyers Group/Financial Markets Law Committee/European Financial Markets Lawyers Group - February 12-14, 2004
ABA Committee on Regulation of Futures and Derivative Instruments - June 13, 2003
BMA: Cross-Product Master Agreement Symposium
- Harvard University (LL.M. 1993; A.B. in English cum laude 1985); Boston College (J.D. magna cum laude 1989)
- New York, U.S. District Courts for the District of Massachusetts and Southern District of New York, and Supreme Court of the United States
Member, United States Delegation to the Unidroit Committee of Governmental Experts for the Preparation of a Convention on Substantive Rules Regarding Intermediated Securities
Industry Advisor, United States Delegation to the Hague Conference Special Commission on Indirectly-Held Securities