Great Lakes Auction Results, 14th April 2009
Final Results of the Great Lakes CDS Auction, 14th April 2009
Final Price: 18.25
On 14th April 2009, 11 dealers submitted inside markets, physical settlement requests and limit orders to the Great Lakes auction administered by Creditex and Markit to settle trades across the market referencing Great Lakes Chemical Corporation.
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Banc of America Securities LLC | 21.875 | 23.875 | Banc of America Securities LLC |
| Barclays Bank PLC | 21 | 23 | Barclays Bank PLC |
| BNP Paribas | 20.5 | 22.5 | BNP Paribas |
| Citigroup Global Markets Inc. | 21.5 | 23.5 | Citigroup Global Markets Inc. |
| Credit Suisse International | 22.5 | 24.5 | Credit Suisse International |
| Deutsche Bank AG | 21 | 23 | Deutsche Bank AG |
| Goldman Sachs & Co. | 22.5 | 24.5 | Goldman Sachs & Co. |
| J.P. Morgan Securities Inc. | 24 | 26 | J.P. Morgan Securities Inc. |
| Morgan Stanley & Co. Incorporated | 24 | 26 | Morgan Stanley & Co. Incorporated |
| The Royal Bank of Scotland PLC | 21.5 | 23.5 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 22 | 24 | UBS Securities LLC |
Inside Market Midpoint: 22.875
Adjustment Amounts
J.P. Morgan Securities Inc.: $22,500
Morgan Stanley & Co. Incorporated: $22,500
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 24.57 |
| Banc of America Securities LLC | Offer | 0 |
| Barclays Bank PLC | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 31.264 |
| Credit Suisse International | Offer | 3.935 |
| Deutsche Bank AG | Offer | 34.371 |
| Goldman Sachs & Co. | Offer | 7.4 |
| J.P. Morgan Securities Inc. | Offer | 0.61 |
| Morgan Stanley & Co. Incorporated | Offer | 15.282 |
| The Royal Bank of Scotland PLC | Offer | 0 |
| UBS Securities LLC | Offer | 13.2 |
Net Open Interest: $130.632 million to sell
| Sum of Buy Physical Requests | $0 |
| Sum of Sell Physical Requests | $130.632m |
| Sum of Physical Request Trades | $0 |
| Sum of Limit Order Trades | $130.632m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Goldman Sachs & Co. | 23.875* | 43 |
| UBS Securities LLC | 23.875* | 5 |
| J.P. Morgan Securities Inc.** | 22.875* | 2 |
| Morgan Stanley & Co. Incorporated** | 22.875* | 2 |
| Credit Suisse International** | 22.5* | 2 |
| Goldman Sachs & Co.** | 22.5* | 2 |
| UBS Securities LLC** | 22* | 2 |
| Banc of America Securities LLC** | 21.875* | 2 |
| The Royal Bank of Scotland PLC** | 21.5* | 2 |
| Citigroup Global Markets Inc.** | 21.5* | 2 |
| Deutsche Bank AG** | 21* | 2 |
| Barclays Bank PLC** | 21* | 2 |
| BNP Paribas** | 20.5* | 2 |
| UBS Securities LLC | 20.125* | 20 |
| Barclays Bank PLC | 20* | 10 |
| Citigroup Global Markets Inc. | 20* | 6 |
| Banc of America Securities LLC | 19.375* | 2 |
| Goldman Sachs & Co. | 19.25* | 2 |
| Barclays Bank PLC | 19* | 5 |
| Goldman Sachs & Co. | 19* | 10 |
| Banc of America Securities LLC | 18.875* | 5 |
| Deutsche Bank AG | 18.25^ | 10 |
| UBS Securities LLC | 18.125 | 20 |
| Goldman Sachs & Co. | 18 | 10 |
| Deutsche Bank AG | 17.25 | 5 |
| UBS Securities LLC | 17.125 | 130.632 |
| Goldman Sachs & Co. | 17 | 10 |
| UBS Securities LLC | 17 | 1 |
| Goldman Sachs & Co. | 17 | 3 |
| Deutsche Bank AG | 17 | 10 |
| Barclays Bank PLC | 17 | 20 |
| Morgan Stanley & Co. Incorporated | 17 | 2 |
| UBS Securities LLC | 16.875 | 75 |
| UBS Securities LLC | 16.5 | 100 |
| Goldman Sachs & Co. | 16 | 10 |
| Goldman Sachs & Co. | 16 | 25 |
| Citigroup Global Markets Inc. | 15 | 10 |
| J.P. Morgan Securities Inc. | 15 | 2 |
| UBS Securities LLC | 15 | 1 |
| Deutsche Bank AG | 15 | 25 |
| Morgan Stanley & Co. Incorporated | 15 | 3 |
| Deutsche Bank AG | 14.25 | 83 |
| UBS Securities LLC | 14.125 | 5 |
| The Royal Bank of Scotland PLC | 14.125 | 5 |
| Barclays Bank PLC | 14 | 15 |
| Citigroup Global Markets Inc. | 14 | 10 |
| Goldman Sachs & Co. | 14 | 2 |
| UBS Securities LLC | 14 | 2 |
| Citigroup Global Markets Inc. | 13 | 10 |
| UBS Securities LLC | 13 | 1 |
| UBS Securities LLC | 12.125 | 5 |
| The Royal Bank of Scotland PLC | 12.125 | 5 |
| Goldman Sachs & Co. | 12 | 7 |
| Barclays Bank PLC | 12 | 5 |
| UBS Securities LLC | 12 | 1 |
| J.P. Morgan Securities Inc. | 12 | 5 |
| UBS Securities LLC | 11 | 2 |
| Citigroup Global Markets Inc. | 11 | 20 |
| UBS Securities LLC | 10.125 | 5 |
| Goldman Sachs & Co. | 10.125 | 25 |
| The Royal Bank of Scotland PLC | 10.125 | 5 |
| Goldman Sachs & Co. | 10 | 3 |
| Barclays Bank PLC | 10 | 5 |
| Morgan Stanley & Co. Incorporated | 10 | 50 |
| Goldman Sachs & Co. | 10 | 10 |
| Citigroup Global Markets Inc. | 9 | 20 |
| Goldman Sachs & Co. | 8 | 5 |
| UBS Securities LLC | 8 | 5 |
| Barclays Bank PLC | 8 | 5 |
| Goldman Sachs & Co. | 7.5 | 25 |
| Citigroup Global Markets Inc. | 7 | 30 |
| UBS Securities LLC | 6.25 | 5 |
| UBS Securities LLC | 5.25 | 3 |
| Goldman Sachs & Co. | 5 | 50 |
| Citigroup Global Markets Inc. | 5 | 40 |
| Morgan Stanley & Co. Incorporated | 5 | 90 |
| Goldman Sachs & Co. | 5 | 130.632 |
| J.P. Morgan Securities Inc. | 5 | 20 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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