“He is my go-to in this space.”Chambers USA 2020

Mitchell Rabinowitz

Washington, D.C.
  • 555 Eleventh Street, NW
  • Suite 1000
  • Washington, D.C. 20004-1304
  • USA
 
 

Mitchell L. Rabinowitz provides comprehensive transactional counsel to key players in the fintech industry, including many of the world’s leading investment banks, infrastructure providers, startups, and newly created consortium entities.

Mr. Rabinowitz helps clients launch, build, jointly create, invest in, and acquire and sell businesses built at the intersection of financial services and technology. In particular, he offers sophisticated insights into the market structures and evolving regulatory environment impacting the fintech space, as well as firsthand experience working with prominent industry participants. Mr. Rabinowitz also draws on his in-depth, sector-specific technical knowledge, having worked extensively on the creation of electronic trading platforms, alternative trading systems, exchanges, clearinghouses, and data repositories. Mr. Rabinowitz advises on a range of US and international fintech matters, including:

  • Complex consortium, joint venture, and strategic alliance transactions
  • Mergers and acquisitions
  • Technology outsourcings
  • Related arrangements, including electronic trading platform arrangements; market data and analytics; software/technology development and maintenance; and license, management, partnership, operating, and shareholder agreements

Mr. Rabinowitz’s representative experience includes advising:

Joint Venture, Consortium, and Strategic Alliance Transactions
  • Citi in its spin-off of its electronic proxy voting platform known as Proxymity and the investment therein by BNY Mellon, Clearstream, Computershare, Deutsche Bank, HSBC, J.P. Morgan, and State Street
  • Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, J.P. Morgan, and Morgan Stanley in the creation of DirectBooks, a new platform to optimize the issuance process for fixed income instruments*
  • MEMX, which intends to launch a new equities exchange, on its creation and funding by Citadel, Virtu, BAML, Morgan Stanley, UBS, E*TRADE, Fidelity, Schwab, and TD Ameritrade*
  • R3 and a consortium of global financial institutions in their initial collaborative exploration of distributed ledger and blockchain technology, followed by representation of R3 in the largest-ever investment in distributed ledger technology from 44 global institutions*
  • Barclays, Goldman Sachs, HSBC, and Morgan Stanley in their investment in KY3P, IHS Markit’s Know Your Third Party risk-management solution*
  • J.P. Morgan and Euclid (NEX) in their investment in OpenFin*
  • Four leading investment banks in creating a new electronic auction and trading platform for a derivative instrument*
  • Thirteen leading investment banks in a prepaid fee arrangement with a third party to fund the build-out of a new service mandated by Dodd-Frank*
  • Eight leading commercial and investment banks in their investment in a data exchange, and accompanying restructuring regarding privacy and third-party technology service provider arrangements*
  • ICAP and its wholly owned subsidiary Traiana in the sale of an equity stake in Traiana to Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, J.P. Morgan, Nomura, and Royal Bank of Scotland*
  • Bank of America Merrill Lynch, Citi, Commerzbank, Goldman Sachs, HSBC, and J.P. Morgan as liquidity providers of FXSpotStream, a multibank spot FX price aggregation service; and the equity holders in creating FXSpotStream’s parent company, LiquidityMatch*
  • Bank of America Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, J.P. Morgan, Morgan Stanley, and UBS, among others, in working with IntercontinentalExchange to develop its over-the-counter (OTC) FX clearing service*
  • Bank of America Merrill Lynch, Barclays Capital, Citadel Securities, Citigroup, Goldman Sachs, TD Ameritrade, and UBS in their purchase of a significant equity interest in NYSE Amex options, an options exchange operated by NYSE Euronext*
  • Citadel Securities, GETCO, Goldman Sachs, Morgan Stanley, and UBS in their purchase of a significant equity interest in NYSE Liffe US, the US futures exchange of  NYSE Euronext*
  • ICAP and Traiana in their joint venture with CLS Group to provide trade aggregation services to participants in the OTC FX market, which was supported by Bank of America, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, and Royal Bank of Scotland*
  • Bank of America, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Merrill Lynch, and UBS in the creation, together with IntercontinentalExchange, of ICE US Trust, the first clearinghouse for credit default swaps*
  • Goldman Sachs in its:
    • Spin-off of SIMON Markets and the investment therein by Barclays, Credit Suisse’s NEXT Investors, HSBC, J.P. Morgan, Prudential, and another leading bank*
    • Joining ELX Futures, a new fully electronic futures exchange, as a founding partner*
    • Investment in Direct Edge, a consortium with Knight Capital Group and Citadel Derivatives Group*
    • Creation, together with Resource Capital Funds, Pegasus Partners, Traxys, and Carint Group, of a new entity to acquire the Mountain Pass rare earth mining operations of Chevron Mining*
  • Morgan Stanley in its investment in i-Swap, an inter-dealer platform for OTC interest rate derivatives launched by ICAP, with Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, and J.P. Morgan also serving as investors*
  • Credit Suisse in a joint venture with Tower Research to create Wake USA for the fixed-income trading space*
  • BrokerTec Global, an electronic inter-dealer broker for fixed income securities, in its formation and operations*
  • BrokerTec Futures Exchange, an electronic futures exchange, and BrokerTec Clearing Company in their formation and operations*
  • Salomon Smith Barney, as part of a consortium including Merrill Lynch, Microsoft and Thomson Financial, in the formation of i-Deal, which was created to develop and operate technology to enable the securities industry to conduct equity and debt capital raising over the internet*
  • Nikko Citigroup Limited in the formation of JapanCross Securities of Japan, a joint venture with Instinet that engages in sessional crossing of Japanese equity securities*
  • Deutsche Bank in its original investment in TradeWeb Group*
  • Grupo Financiero Bancomer of Mexico in its joint venture with Commercial Credit Company to form a consumer finance joint venture operating in Mexico*
  • A major bank in its joint venture with Norwest Mortgage to form Town Square Mortgage, a California general partnership engaged in mortgage origination and marketing activities*
M&A Transactions
  • Trumid Financial in its acquisition of Electronifie*
  • Citadel Securities in its acquisition from KCG of the direct market making business on the floor of NYSE*
  • Bank of America, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Merrill Lynch, and UBS, as shareholders in The Clearing Corporation, in connection with the sale of The Clearing Corporation to IntercontinentalExchange*
  • NYSE Euronext in its acquisition of Wombat Financial Software*
  • ICAP in its:
    • Acquisition of Enso Financial Analytics*
    • Acquisition of Traiana*
  • FXall in its acquisition of LavaFX and its foreign exchange electronic trading platform from Citigroup*
  • Citigroup in its:
    • Acquisition of Lava Trading*
    • Acquisition of the derivatives markets business of Knight Trading Group*
    • Acquisition of Forum Financial Group, a provider of mutual fund and hedge fund administration, accounting, and transfer agency services*
  • BrokerTec Global in the sale of its US and European trading operations to ICAP*
  • BrokerTec Futures Exchange in its acquisition by Eurex Frankfurt AG and Eurex’s US futures exchange*
  • Deutsche Bank Securities in the sale of its correspondent clearing business to the Pershing Division of Donaldson, Lufkin & Jenrette Securities Corporation*
  • Government Securities Clearing Corporation and MBS Clearing Corporation in their:
    • Acquisition by the Depository Trust & Clearing Corporation*
    • Merger to form the Fixed Income Clearing Corporation*
  • Barclays Global Investors in its sale of its defined contribution benefit plan business to Merrill Lynch*        
Financing Transactions
  • Rivian in its US$700 million investment round led by Amazon,* its US$500 million investment by Ford Motor Company,* its US$350 million investment by Cox Automotive, and its US$1.3 billion investment round including Amazon, BlackRock, Ford, and T. Rowe Price
  • Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan, and Morgan Stanley as selling shareholders in the IPO of Markit and subsequent registered sales of shares in Markit*
  • Trumid Financial in multiple fundraising rounds, including funding from George Soros, Peter Thiel, Delphi Financial Group, CreditEase Fintech Investment Fund, and Hillhouse Capital*
  • Morgan Stanley in its investment in Kensho Technologies*
  • A major bank in its investment in Kensho Technologies*
  • Goldman Sachs in its investments in Motif Investing, LinkedIn, FTEN, APX, Epocrates, Quantitative Services Group, TrimTabs Investment Research, Derivix, and JL McGregor & Company*
  • ICAP in its investments in Enso Financial Analytics, OpenGamma and Eris*
  • J.P. Morgan Fleming Asset Management in the purchase of convertible debt issued by Ovation, a fine arts cable station*
  • KoSa in obtaining a senior secured credit facility from a bank syndicate led by J.P. Morgan and Chase Manhattan Bank to finance its acquisition of the worldwide polyester production business of Hoechst AG*

*Matter handled prior to joining Latham

 
 
 
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