Ilene K. Froom is a partner in the Financial Industry Group in the New York office of Reed Smith LLP. She advises on, negotiates, and structures derivatives transactions and related documentation. She represents both buyside and sellside clients and works on onshore and offshore equity derivatives transactions, including total return swaps, hedging and monetization strategies, such as collars, collar/loans, and prepaid variable forwards, volatility and variance swaps, dividend swaps, correlation, and dispersion trades; access products; and customized transactions. She also has an extensive background in fixed income and foreign exchange transactions, including repos, swaps, cross-currency swaps, swaptions, straddles, caps, floors, collars, range accruals, deliverable and non-deliverable FX options and forwards, knock-out and knock-in trades, barrier trades and customized transactions. Ilene works on global equity swap MCAs, equity option MCAs, long form Confirmations, ISDA Master Agreements, including CSAs that reflect VM and IM margin regulations, prime brokerage agreements, MRAs, GMRAs, MSFTAs, security control agreements, and other trading agreements. Ilene also drafted three Protocols for the International Swaps and Derivatives Association (ISDA): the ISDA 2013 Discontinued Rates Maturities Protocol, the ISDA 2014 Collateral Agreement Negative Interest Protocol and the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol.

Prior to joining Reed Smith, Ilene worked at Jones Day and was also in house at JPMorgan Chase Bank.

Ilene is extremely knowledgeable about ISDA documentation and is active in ISDA working groups and committees. She participated heavily in the ISDA working groups that developed the 2002 ISDA Equity Derivatives Definitions and the 2011 ISDA Equity Derivatives Definitions.

A graduate of New York University Law School, Ilene was a former chairperson of the New York State Bar Association's Derivatives and Structured Products Committee. She is on the Board of Women in Derivatives and is a member of the New York City Bar Association‘s Committee on Futures and Derivatives.


  • New York University School of Law, J.D.
  • Brandeis University, B.A.

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