Chemtura Auction Results, 14th April 2009
Final Results of the Chemtura CDS Auction, 14th April 2009
Final Price: 15
On 14th April 2009, 11 dealers submitted inside markets, physical settlement requests and limit orders to the Chemtura auction administered by Creditex and Markit to settle trades across the market referencing Chemtura Corporation.
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Banc of America Securities LLC | 20 | 22 | Banc of America Securities LLC |
| Barclays Bank PLC | 18.5 | 20.5 | Barclays Bank PLC |
| BNP Paribas | 21 | 23 | BNP Paribas |
| Citigroup Global Markets Inc. | 19.25 | 21.25 | Citigroup Global Markets Inc. |
| Credit Suisse International | 21.5 | 23.5 | Credit Suisse International |
| Deutsche Bank AG | 20 | 22 | Deutsche Bank AG |
| Goldman Sachs & Co. | 19.5 | 21.5 | Goldman Sachs & Co. |
| J.P. Morgan Securities Inc. | 22 | 24 | J.P. Morgan Securities Inc. |
| Morgan Stanley & Co. Incorporated | 19 | 21 | Morgan Stanley & Co. Incorporated |
| The Royal Bank of Scotland PLC | 19 | 21 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 23 | 25 | UBS Securities LLC |
Inside Market Midpoint: 20.875
Adjustment Amounts
UBS Securities LLC: $42,500
J.P. Morgan Securities Inc.: $22,500
Credit Suisse International: $12,500
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 0 |
| Banc of America Securities LLC | Offer | 2 |
| Barclays Bank PLC | Offer | 20.5 |
| Citigroup Global Markets Inc. | Offer | 27.246 |
| Credit Suisse International | Offer | 0 |
| Deutsche Bank AG | Offer | 97 |
| Goldman Sachs & Co. | Offer | 15 |
| Morgan Stanley & Co. Incorporated | Offer | 31.337 |
| The Royal Bank of Scotland PLC | Offer | 21 |
| J.P. Morgan Securities Inc. | Bid | 14.395 |
| UBS Securities LLC | Bid | 100.95 |
Net Open Interest: $98.738 million to sell
| Sum of Buy Physical Requests | $115.345m |
| Sum of Sell Physical Requests | $214.083m |
| Sum of Physical Request Trades | $115.345m |
| Sum of Limit Order Trades | $98.738m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Goldman Sachs & Co. | 21.875* | 22 |
| BNP Paribas** | 21* | 2 |
| UBS Securities LLC** | 20.875* | 2 |
| J.P. Morgan Securities Inc.** | 20.875* | 2 |
| Credit Suisse International** | 20.875* | 2 |
| Deutsche Bank AG** | 20* | 2 |
| Banc of America Securities LLC** | 20* | 2 |
| UBS Securities LLC | 20* | 5 |
| Goldman Sachs & Co.** | 19.5* | 2 |
| Citigroup Global Markets Inc.** | 19.25* | 2 |
| The Royal Bank of Scotland PLC** | 19* | 2 |
| Morgan Stanley & Co. Incorporated** | 19* | 2 |
| Barclays Bank PLC** | 18.5* | 2 |
| Deutsche Bank AG | 17.5* | 9 |
| Deutsche Bank AG | 17* | 3 |
| UBS Securities LLC | 16.125* | 5 |
| The Royal Bank of Scotland PLC | 16.125* | 5 |
| Barclays Bank PLC | 16* | 5 |
| J.P. Morgan Securities Inc. | 16* | 3 |
| Deutsche Bank AG | 16* | 1 |
| Deutsche Bank AG | 15^ | 1 |
| Goldman Sachs & Co. | 15^ | 25 |
| Goldman Sachs & Co. | 15^ | 15 |
| Deutsche Bank AG | 14.5 | 10 |
| UBS Securities LLC | 14.125 | 5 |
| The Royal Bank of Scotland PLC | 14.125 | 5 |
| Deutsche Bank AG | 14 | 21 |
| Goldman Sachs & Co. | 14 | 15 |
| Deutsche Bank AG | 13 | 12 |
| Goldman Sachs & Co. | 13 | 15 |
| J.P. Morgan Securities Inc. | 13 | 2 |
| Deutsche Bank AG | 12.5 | 10 |
| UBS Securities LLC | 12.125 | 5 |
| The Royal Bank of Scotland PLC | 12.125 | 5 |
| Barclays Bank PLC | 12 | 10 |
| Deutsche Bank AG | 12 | 11 |
| Citigroup Global Markets Inc. | 11.875 | 10 |
| J.P. Morgan Securities Inc. | 11 | 2 |
| Deutsche Bank AG | 11 | 11 |
| Deutsche Bank AG | 10.25 | 9.7 |
| The Royal Bank of Scotland PLC | 10.125 | 5 |
| UBS Securities LLC | 10.125 | 5 |
| Goldman Sachs & Co. | 10 | 2 |
| J.P. Morgan Securities Inc. | 10 | 5 |
| Morgan Stanley & Co. Incorporated | 10 | 10 |
| Citigroup Global Markets Inc. | 9.875 | 10 |
| Goldman Sachs & Co. | 9 | 3 |
| Citigroup Global Markets Inc. | 7.875 | 10 |
| UBS Securities LLC | 7.625 | 98.738 |
| Goldman Sachs & Co. | 7 | 3 |
| Goldman Sachs & Co. | 6.5 | 25 |
| Citigroup Global Markets Inc. | 6.375 | 10 |
| Citigroup Global Markets Inc. | 5.625 | 10 |
| UBS Securities LLC | 5 | 50 |
| J.P. Morgan Securities Inc. | 5 | 10 |
| Goldman Sachs & Co. | 5 | 4 |
| Goldman Sachs & Co. | 5 | 90.738 |
| Morgan Stanley & Co. Incorporated | 5 | 98.738 |
| Citigroup Global Markets Inc. | 2.125 | 50 |
| Barclays Bank PLC | 2 | 85 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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