CIT Auction Results, 20th November 2009
Final Results of the CIT CDS Auction, 20th November 2009
Final Price: 68.125
On 20th November 2009, 13 dealers submitted inside markets, physical settlement requests and limit orders to the CIT auction administered by Creditex and Markit to settle trades across the market referencing CIT Group Inc..
The CIT Deliverable Obligations are denominated in CAD, CHF, EUR, GBP, JPY and USD .
| Relevant Currency |
|---|
| USD |
| Auction Currency Rates | |
|---|---|
| USD/CAD | 0.93646 |
| USD/CHF | 0.98198 |
| USD/EUR | 1.48585 |
| USD/GBP | 1.66210 |
| USD/JPY | 0.01126 |
| USD/USD | 1.00000 |
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Banc of America Securities LLC | 69.25 | 71.25 | Banc of America Securities LLC |
| Barclays Bank PLC | 67 | 69 | Barclays Bank PLC |
| BNP Paribas | 69 | 71 | BNP Paribas |
| Citigroup Global Markets Inc. | 68.75 | 70.75 | Citigroup Global Markets Inc. |
| Credit Suisse International | 70 | 72 | Credit Suisse International |
| Deutsche Bank AG | 70.25 | 72.25 | Deutsche Bank AG |
| Goldman Sachs & Co. | 66.5 | 68.5 | Goldman Sachs & Co. |
| HSBC Bank USA, National Association | 69 | 71 | HSBC Bank USA, National Association |
| J.P. Morgan Securities, Inc. | 69.75 | 71.75 | J.P. Morgan Securities, Inc. |
| Morgan Stanley & Co. Incorporated | 68 | 70 | Morgan Stanley & Co. Incorporated |
| Nomura International PLC | 70 | 72 | Nomura International PLC |
| The Royal Bank of Scotland PLC | 69 | 71 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 70 | 72 | UBS Securities LLC |
Inside Market Midpoint: 70.25
Adjustment Amounts
No adjustment amounts
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Banc of America Securities LLC | Offer | 391.54 |
| Barclays Bank PLC | Offer | 74.618 |
| Citigroup Global Markets Inc. | Offer | 170 |
| Credit Suisse International | Offer | 152.352 |
| Deutsche Bank AG | Offer | 539 |
| Goldman Sachs & Co. | Offer | 80 |
| HSBC Bank USA, National Association | Offer | 3.018 |
| Morgan Stanley & Co. Incorporated | Offer | 0 |
| The Royal Bank of Scotland PLC | Offer | 104.195 |
| BNP Paribas | Bid | 107.096 |
| J.P. Morgan Securities, Inc. | Bid | 299 |
| Nomura International PLC | Bid | 141.603 |
| UBS Securities LLC | Bid | 238.044 |
Net Open Interest: $728.98 million to sell
| Sum of Buy Physical Requests | $785.743m |
| Sum of Sell Physical Requests | $1,514.723m |
| Sum of Physical Request Trades | $785.743m |
| Sum of Limit Order Trades | $728.980m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Banc of America Securities LLC | 71.25* | 125 |
| Citigroup Global Markets Inc. | 71.25* | 84 |
| J.P. Morgan Securities, Inc. | 71.25* | 45 |
| Nomura International PLC | 71.25* | 25 |
| Barclays Bank PLC | 71.25* | 10 |
| Credit Suisse International | 71.25* | 5 |
| Barclays Bank PLC | 70.25* | 45 |
| J.P. Morgan Securities, Inc. | 70.25* | 20 |
| Deutsche Bank AG** | 70.25* | 5 |
| Credit Suisse International** | 70.25* | 5 |
| Nomura International PLC** | 70.25* | 5 |
| Citigroup Global Markets Inc. | 70.125* | 20 |
| Barclays Bank PLC | 70* | 22 |
| UBS Securities LLC** | 70* | 5 |
| J.P. Morgan Securities, Inc.** | 69.75* | 5 |
| Barclays Bank PLC | 69.625* | 15 |
| Banc of America Securities LLC | 69.5* | 25 |
| J.P. Morgan Securities, Inc. | 69.5* | 23 |
| Banc of America Securities LLC** | 69.25* | 5 |
| Barclays Bank PLC | 69.125* | 15 |
| Citigroup Global Markets Inc. | 69.125* | 12.5 |
| Barclays Bank PLC | 69* | 35 |
| Banc of America Securities LLC | 69* | 25 |
| J.P. Morgan Securities, Inc. | 69* | 20 |
| The Royal Bank of Scotland PLC | 69* | 10 |
| Goldman Sachs & Co. | 69* | 9 |
| Credit Suisse International | 69* | 8 |
| Banc of America Securities LLC | 69* | 8 |
| BNP Paribas** | 69* | 5 |
| HSBC Bank USA, National Association** | 69* | 5 |
| The Royal Bank of Scotland PLC** | 69* | 5 |
| Credit Suisse International | 69* | 1 |
| Citigroup Global Markets Inc.** | 68.75* | 5 |
| Barclays Bank PLC | 68.625* | 15 |
| Citigroup Global Markets Inc. | 68.625* | 12.5 |
| Banc of America Securities LLC | 68.5* | 20 |
| Credit Suisse International | 68.5* | 5 |
| Goldman Sachs & Co. | 68.25* | 5 |
| Credit Suisse International | 68.25* | 2 |
| Citigroup Global Markets Inc. | 68.125^ | 25 |
| Barclays Bank PLC | 68.125^ | 25 |
| Goldman Sachs & Co. | 68 | 70 |
| Barclays Bank PLC | 68 | 60 |
| Goldman Sachs & Co. | 68 | 15 |
| Banc of America Securities LLC | 68 | 15 |
| Credit Suisse International | 68 | 10 |
| UBS Securities LLC | 68 | 10 |
| Morgan Stanley & Co. Incorporated | 68 | 10 |
| Morgan Stanley & Co. Incorporated | 68 | 10 |
| Goldman Sachs & Co. | 68 | 10 |
| Morgan Stanley & Co. Incorporated** | 68 | 5 |
| Credit Suisse International | 68 | 5 |
| The Royal Bank of Scotland PLC | 68 | 5 |
| Banc of America Securities LLC | 68 | 2 |
| Barclays Bank PLC | 67.625 | 25 |
| Citigroup Global Markets Inc. | 67.625 | 15 |
| Citigroup Global Markets Inc. | 67.625 | 12.5 |
| J.P. Morgan Securities, Inc. | 67.5 | 25 |
| Banc of America Securities LLC | 67.5 | 25 |
| Credit Suisse International | 67.5 | 10 |
| J.P. Morgan Securities, Inc. | 67.25 | 25 |
| The Royal Bank of Scotland PLC | 67.25 | 25 |
| Barclays Bank PLC | 67.25 | 25 |
| Banc of America Securities LLC | 67.25 | 20 |
| Banc of America Securities LLC | 67.25 | 20 |
| Goldman Sachs & Co. | 67.25 | 5 |
| Credit Suisse International | 67.25 | 3 |
| Barclays Bank PLC | 67.125 | 75 |
| J.P. Morgan Securities, Inc. | 67.125 | 25 |
| Citigroup Global Markets Inc. | 67.125 | 12.5 |
| J.P. Morgan Securities, Inc. | 67 | 95 |
| Citigroup Global Markets Inc. | 67 | 50 |
| Barclays Bank PLC | 67 | 40 |
| Citigroup Global Markets Inc. | 67 | 25 |
| The Royal Bank of Scotland PLC | 67 | 25 |
| The Royal Bank of Scotland PLC | 67 | 20 |
| Goldman Sachs & Co. | 67 | 14 |
| Credit Suisse International | 67 | 13 |
| Barclays Bank PLC** | 67 | 5 |
| Credit Suisse International | 67 | 5 |
| Credit Suisse International | 67 | 4.875 |
| Banc of America Securities LLC | 67 | 3 |
| Banc of America Securities LLC | 66.75 | 25 |
| Citigroup Global Markets Inc. | 66.75 | 20 |
| J.P. Morgan Securities, Inc. | 66.75 | 5 |
| Citigroup Global Markets Inc. | 66.625 | 5 |
| Morgan Stanley & Co. Incorporated | 66.5 | 50 |
| J.P. Morgan Securities, Inc. | 66.5 | 25 |
| The Royal Bank of Scotland PLC | 66.5 | 25 |
| Credit Suisse International | 66.5 | 10 |
| Goldman Sachs & Co.** | 66.5 | 5 |
| J.P. Morgan Securities, Inc. | 66.375 | 5 |
| Goldman Sachs & Co. | 66.25 | 5 |
| Credit Suisse International | 66.25 | 4 |
| Citigroup Global Markets Inc. | 66.125 | 50 |
| J.P. Morgan Securities, Inc. | 66.125 | 20 |
| Barclays Bank PLC | 66.125 | 15 |
| Citigroup Global Markets Inc. | 66.125 | 12.5 |
| Morgan Stanley & Co. Incorporated | 66 | 75 |
| Citigroup Global Markets Inc. | 66 | 50 |
| Citigroup Global Markets Inc. | 66 | 50 |
| Citigroup Global Markets Inc. | 66 | 50 |
| The Royal Bank of Scotland PLC | 66 | 50 |
| Citigroup Global Markets Inc. | 66 | 25 |
| J.P. Morgan Securities, Inc. | 66 | 25 |
| Banc of America Securities LLC | 66 | 25 |
| Goldman Sachs & Co. | 66 | 17 |
| Credit Suisse International | 66 | 16 |
| UBS Securities LLC | 66 | 10 |
| Morgan Stanley & Co. Incorporated | 66 | 10 |
| Banc of America Securities LLC | 66 | 4 |
| Goldman Sachs & Co. | 66 | 2 |
| Citigroup Global Markets Inc. | 65.625 | 10 |
| Credit Suisse International | 65.25 | 5 |
| Citigroup Global Markets Inc. | 65.125 | 50 |
| Deutsche Bank AG | 65 | 355 |
| Citigroup Global Markets Inc. | 65 | 100 |
| Morgan Stanley & Co. Incorporated | 65 | 100 |
| Barclays Bank PLC | 65 | 80 |
| Citigroup Global Markets Inc. | 65 | 50 |
| The Royal Bank of Scotland PLC | 65 | 50 |
| UBS Securities LLC | 65 | 15 |
| J.P. Morgan Securities, Inc. | 65 | 15 |
| Banc of America Securities LLC | 65 | 10 |
| Goldman Sachs & Co. | 65 | 2 |
| Barclays Bank PLC | 64.5 | 15 |
| Deutsche Bank AG | 64.5 | 5 |
| J.P. Morgan Securities, Inc. | 64.5 | 5 |
| Banc of America Securities LLC | 64.5 | 5 |
| Credit Suisse International | 64.25 | 5 |
| Citigroup Global Markets Inc. | 64.125 | 100 |
| Banc of America Securities LLC | 64.125 | 50 |
| Citigroup Global Markets Inc. | 64 | 100 |
| Deutsche Bank AG | 64 | 55 |
| UBS Securities LLC | 64 | 25 |
| The Royal Bank of Scotland PLC | 64 | 25 |
| Barclays Bank PLC | 64 | 25 |
| Morgan Stanley & Co. Incorporated | 64 | 10 |
| J.P. Morgan Securities, Inc. | 64 | 5 |
| Banc of America Securities LLC | 64 | 5 |
| Goldman Sachs & Co. | 64 | 2 |
| Barclays Bank PLC | 63.5 | 10 |
| Deutsche Bank AG | 63.5 | 5 |
| J.P. Morgan Securities, Inc. | 63.5 | 5 |
| Banc of America Securities LLC | 63.5 | 5 |
| Citigroup Global Markets Inc. | 63.125 | 50 |
| Banc of America Securities LLC | 63.125 | 25 |
| Citigroup Global Markets Inc. | 63 | 125 |
| Deutsche Bank AG | 63 | 35 |
| Barclays Bank PLC | 63 | 10 |
| J.P. Morgan Securities, Inc. | 63 | 5 |
| Banc of America Securities LLC | 63 | 5 |
| Goldman Sachs & Co. | 63 | 2 |
| Barclays Bank PLC | 62.5 | 10 |
| Deutsche Bank AG | 62.5 | 5 |
| J.P. Morgan Securities, Inc. | 62.5 | 5 |
| Banc of America Securities LLC | 62.125 | 100 |
| Barclays Bank PLC | 62 | 50 |
| Deutsche Bank AG | 62 | 35 |
| Morgan Stanley & Co. Incorporated | 62 | 10 |
| J.P. Morgan Securities, Inc. | 62 | 5 |
| Goldman Sachs & Co. | 62 | 2 |
| Barclays Bank PLC | 61.5 | 10 |
| Deutsche Bank AG | 61.5 | 5 |
| J.P. Morgan Securities, Inc. | 61.5 | 5 |
| Deutsche Bank AG | 61 | 35 |
| Barclays Bank PLC | 61 | 10 |
| J.P. Morgan Securities, Inc. | 61 | 5 |
| Goldman Sachs & Co. | 61 | 2 |
| Barclays Bank PLC | 60.5 | 10 |
| Deutsche Bank AG | 60.5 | 5 |
| J.P. Morgan Securities, Inc. | 60.5 | 5 |
| Deutsche Bank AG | 60 | 105 |
| UBS Securities LLC | 60 | 25 |
| Barclays Bank PLC | 60 | 10 |
| J.P. Morgan Securities, Inc. | 60 | 5 |
| Goldman Sachs & Co. | 60 | 2 |
| Barclays Bank PLC | 59.5 | 10 |
| Deutsche Bank AG | 59.5 | 5 |
| J.P. Morgan Securities, Inc. | 59.5 | 5 |
| Barclays Bank PLC | 59 | 10 |
| Deutsche Bank AG | 59 | 5 |
| J.P. Morgan Securities, Inc. | 59 | 5 |
| Barclays Bank PLC | 58.5 | 10 |
| Deutsche Bank AG | 58.5 | 5 |
| J.P. Morgan Securities, Inc. | 58.5 | 5 |
| Barclays Bank PLC | 58 | 10 |
| Deutsche Bank AG | 58 | 5 |
| J.P. Morgan Securities, Inc. | 58 | 5 |
| Barclays Bank PLC | 57.5 | 10 |
| Deutsche Bank AG | 57.5 | 5 |
| J.P. Morgan Securities, Inc. | 57.5 | 5 |
| Barclays Bank PLC | 57 | 10 |
| Deutsche Bank AG | 57 | 5 |
| J.P. Morgan Securities, Inc. | 57 | 5 |
| Barclays Bank PLC | 56.5 | 10 |
| Deutsche Bank AG | 56.5 | 5 |
| J.P. Morgan Securities, Inc. | 56.5 | 5 |
| Deutsche Bank AG | 56 | 5 |
| J.P. Morgan Securities, Inc. | 56 | 5 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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