Stuart B. Armstrong

Stuart advises clients on derivatives trading and hedging, structured derivatives, and commodity trading utilizing his commercially informed expertise in CFTC regulation and transactional documentation.

He has substantial experience in the areas of commodity leases, consignments, and repurchase transactions, as well as structuring intermediations and supply and offtake transactions involving metals, energy and agricultural products. His practice extends to oil  and gas acquisition financing, reserved based lending and securitization hedging.

Armstrong's representations include advising on transactional and regulatory matters across fixed income, commodities and capital markets products in domestic and international markets. He also worked closely with clients on derivatives, loans and securitizations in connection with the London Interbank Offered Rate (LIBOR) Transition and other significant regulatory driven market changes.

Before joining the private sector, Stuart served as Special Counsel at the U.S. Commodity Futures Trading Commission (CFTC) where he was responsible for advising Division Directors, the CFTC Chairman and Commissioners on futures and swaps regulation, derivatives market oversight and drafting and implementing regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Stuart drafted and advised on the implementation and enforcement of regulations and guidance applicable to derivatives markets participants, domestic and foreign futures and swaps trading venues and swap data reporting and data repositories.

Licensed in Texas. Not Admitted in North Carolina.

Representative Experience

• Represented a financial institution as a secured commodity hedge provider in connection with a private issuer’s proved developed and producing asset-backed securitization collateralized by producing oil and gas assets in Oklahoma
• Represented a trading affiliate of a financial institution regarding negotiation and documentation of purchase, sale and commodity finance transactions in respect of copper, aluminum, steel and other base metals
• Represented a renewable energy project on power and renewable energy credit offtake transactions, including negotiation of EEI agreements
• Advised a financial institution on bank and markets regulatory permissibility and regulatory and compliance requirements regarding physical commodity trading and financing activities and drafted corresponding transactional documentation templates
• Advised a financial institution on cross-border regulatory matters related to physical and financial commodities trading and financing