Key Issues In Arbitration Of Derivatives And Complex Financial Disputes: Virtual Public Consultation On The Revision Of The P.R.I.M.E. Finance Rules.

Legal News & Analysis - Asia Pacific - Dispute Resolution

8 February 2021

Arbitration can provide an effective alternative to the courts for the resolution of disputes concerning derivatives and other complex financial products. In particular, given the inherent flexibility and emphasis on party autonomy, the arbitral process can be crafted to address the specific issues most likely to arise. Further, an arbitral tribunal experienced in financial markets law and practice can be appointed to resolve the dispute where appropriate. The advantages of arbitrating such disputes are explored in more detail in our article here.


The P.R.I.M.E. Finance Rules, first launched in 2012, are a unique set of arbitration rules specifically designed to both facilitate an efficient arbitration process and address matters likely to arise in financial markets disputes. P.R.I.M.E. Finance offers a peer-approved international panel of market and dispute resolution experts, including HSF Partner Dr. Mathias Wittinghofer. The P.R.I.M.E. Finance Rules have been embraced by ISDA in its Arbitration Guide and are chosen by parties across a spectrum of financial markets transactions.

The public consultation on the revision of the P.R.I.M.E. Finance Rules provides an opportunity for stakeholders to reflect on the bespoke features of the Rules, and the amendments proposed by the expert drafting group of arbitration practitioners and finance experts, which includes Herbert Smith Freehills partner, Kathryn Sanger. Among other things, the amendments address emergency arbitration enabling parties to seek interim relief on an urgent basis, expedited dispute resolution, and complex disputes involving multiple parties and multiple related contracts. The revision also introduces a number of features intended to improve efficiency.

Stakeholders are invited by the P.R.I.M.E. Finance Secretariat to attend one of three virtual public consultation sessions. You can register using the following links:

  • 9 February at 12:00 London / 13:00 CET:



  • 2 March at 09:00 New York/ 15:00 CET:



  • 3 March at 10:00 CET / 17:00 HKT +SGT + CST:

Practitioners across Herbert Smith Freehills’ arbitration and banking and finance disputes practices are developing a response to the public consultation. If you would like to discuss the key issues arising from the revisions or arbitration of complex financial disputes more generally, please contact Kathryn Sanger, Partner, Mathias Wittinghofer, Partner, Nicholas Peacock, Partner, Hannah Ambrose, Senior Associate, or your usual Herbert Smith Freehills contact.


For further information, please contact:


Nicholas Peacock, Partner, Herbert Smith Freehills

[email protected]