Admissions and Certifications

Education

James R. McDaniel practices in federal securities and commodities law, particularly relating to over-the-counter and exchange-traded derivative products and to the regulation of clearing agencies, exchanges, boards of trade, broker-dealers, futures commission merchants and other participants in the securities and commodity futures markets.

He has represented The Options Clearing Corporation in connection with creating innovative forms of options trading, including the development of index options, links between U.S. and foreign options exchanges, and "cross-margining" of securities and futures accounts. He has represented various other securities and futures clearing organizations in the development of new products and services. He has also represented exchanges and other market places, in a broad range of regulatory matters and new product development. On behalf of the Unified Clearing Group, consisting of all securities and futures clearing organizations in the U.S., he drafted the form of standby letter of credit that clearing organizations require when accepting letters of credit as collateral from member firms.

Mr. McDaniel participated in an advisory capacity in the drafting of the 1994 amendments to Articles 8 and 9 of the Uniform Commercial Code. He published articles in Futures & Derivatives Law Report relating to aspects of the 1997 amendments to the federal securities laws and to cross-margining programs between securities and futures clearing organizations. He is a member of the Chicago Bar Association and the American Bar Association.