Dr David Murphy

Dr David Murphy is a Senior Fellow at LSE Law School. He specialises in financial regulation, OTC derivatives, and financial market infrastructure. His most recent work focusses on the market structure, regulation and governance of post-trade infrastructure. Dr Murphy's latest book, Derivatives Regulation: Rules and Reasoning from Lehman to Covid, appeared from Oxford University Press in 2022, and he has published extensively on central counterparties, systemic risk, and financial market benchmarks, among other issues. He co-organises the LSE Law Financial Market Infrastructure Research Seminar Series with Professor Jo Braithwaite, and regularly presents in the School.

Email: d.murphy3@lse.ac.uk

Publications

'Dislocations in Derivatives Markets The causes and consequences of disorderly futures markets in the light of recent episodes in nickel and crude oil' Capital Markets Law Journal, Vol. 19, No. 4, 2024

'The Impulsive Approach to Procyclicality – Measuring the reactiveness of risk-based initial margin models to changes in market conditions using impulse response functions' Proceedings of the WFEClear conference, 2024 and Borsa Istanbul Review, Vol. 25, No. 6, 2025 (with Pedro Gurrola Perez)

'Extra-Territorial Regulatory Action in the Financial Markets: Does the EU Third-Country Central Counterparty Regime Go Too Far?' Capital Markets Law Journal, Vol. 20, No. 1, 2025 (with Jo Braithwaite)

'Sovereignty and Legitimacy in International Banking Law' Virginia Journal of International Law, Vol. 65, No. 3, 2025 (with Christina Skinner)

'The Construction of Knowledge in Financial Regulation' LSE Law, Society and Economy Working Papers 8/2025 and in Joshua Neoh & Luca Siliquini-Cinelli (eds.), Research Handbook on the Epistemologies of Law, Edward Elgar, 2026

'Improving the regulatory process for EU capital markets – Insights from equity settlement discipline' European Business Organization Law Review, Forthcoming, 2026 (with Sarah Paterson)

'Addressing Fragmentation in EU Post-trade Infrastructure – A Proportional Approach', chapter in The Florence Report, European University Institute, 2026

'Fragmentation in the Foundations of the Saving and Investments Union – The case of equity market post-trade infrastructure' European Company and Financial Law Review, Forthcoming, 2026