The anisotropic resistivity observed in Sr₃Ru₂O₇ [1] has led to a variety of theoretical studies proposing microscopic routes to a nematic phase in the material. However, the discovery of spin-density wave (SDW) order in the same region of phase space [2] has cast some doubt on this picture, even though there are open issues that cannot be understood within the SDW scenario. Here we study the interplay between spatially modulated nematic and SDW order from a microscopic viewpoint. Mean-field results illustrating the formation of the finite momentum nematic and SDW order will be presented. Implications towards the importance of bilayer coupling, spin-orbit coupling and the presence of a van-Hove singularity in Sr₃Ru₂O₇ will also be discussed.

[1] Borzi, R. A. et al. Science 315, 214-217. Formation of a nematic fluid at high fields in Sr₃Ru₂O₇. (2007).
[2] Lester, C et al. Nat. mater. 14, 373-378. Field-tunable spin-density-wave phases in Sr₃Ru₂O₇. (2015).