Daniel Smith
Image of Daniel Smith

Daniel Smith

Partner

Email

daniel.smith@aoshearman.com

Phone

+44 20 3088 3329

Offices

London

V-CARD
Dan specialises in structured finance and derivatives products, with a particular focus on the financing and hedging of physical commodities, and Shari’ah-compliant arrangements.

He has extensive experience of inventory financing transactions using a range of commodity-types and structures, in addition to related matters including supply and offtake arrangements, renewable transport fuel certificates, carbon credits and trading under ISDA and EFET agreements. Dan’s commodities expertise also gives him real insight into the structures underpinning Islamic treasury products, and he has advised clients on a range of “market first” transactions in the Middle East, including the development of new regulations and industry documentation.

More generally, Dan advises clients on the full range of derivatives and securities transfer products, across all asset classes.

Expertise

Industries

Experience

Representative matters

  • A range of buy-side and sell-side institutions on inventory monetisation arrangements, including in the United Kingdom, Ireland, France, Italy, the Netherlands and the United States.
  • A private capital firm on raising funds through a metals leasing arrangement in the United States and Canada.
  • The hedge bank on Meridian 2025-1, the first Islamic public rated RMBS deal in the United Kingdom.
  • The Saudi Central Bank on the issuance of netting regulations in Saudi Arabia.
  • The SAMA Treasury Committee on the development of the “Double Wa’ad” Islamic repo agreement in Saudi Arabia.
  • A global financial institution on the legal and regulatory categorisation of commodity murabaha transactions.
  • Various international and GCC onshore financial institutions on the development of bespoke structures for Islamic derivatives, including options and range accrual swaps.
  • A global financial institution on the structuring of a new Islamic structured certificates programme.
  • Several financial institutions on repos and total return swaps over securities and loans, in various European and Middle Eastern jurisdictions.
  • Several financial institutions and corporates on cash pooling and sweeping arrangements, including advice on structuring products and compliance with the Capital Requirements Regulation.

Published Work

  • Abi Saab, Michel and Smith, Daniel, (2025) “Islamic derivatives”, Chapter 8: Islamic Finance: A Practical Guide, Globe Law and Business.

Qualifications

Admissions

Admitted as solicitor, England and Wales, 2014
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.