Final Results of the Nortel Ltd. Auction, 10th February 2009
Final Price: 6.5
On 10th February 2009 , 11 dealers submitted inside markets, physical settlement requests and limit orders to the Nortel Ltd. auction administered by Markit and Creditex to settle trades across the market referencing Nortel Networks Limited .
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Banc of America Securities LLC | 9.5 | 11.5 | Banc of America Securities LLC |
| Barclays Bank PLC | 4 | 6 | Barclays Bank PLC |
| BNP Paribas | 7 | 9 | BNP Paribas |
| Citigroup Global Markets Inc. | 10.5 | 12.5 | Citigroup Global Markets Inc. |
| Credit Suisse International | 6.5 | 8.5 | Credit Suisse International |
| Deutsche Bank AG | 6 | 8 | Deutsche Bank AG |
| Goldman Sachs & Co. | 6 | 8 | Goldman Sachs & Co. |
| J.P. Morgan Securities Inc. | 7 | 9 | J.P. Morgan Securities Inc. |
| Morgan Stanley & Co. Incorporated | 5 | 7 | Morgan Stanley & Co. Incorporated |
| The Royal Bank of Scotland PLC | 6.5 | 8.5 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 7 | 9 | UBS Securities LLC |
Inside Market Midpoint: 7.625
Adjustment Amounts
Citigroup Global Markets Inc.: $57,500
Banc of America Securities LLC: $37,500
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 0 |
| Banc of America Securities LLC | Offer | 0 |
| Barclays Bank PLC | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 4.76 |
| Credit Suisse International | Offer | 0 |
| Deutsche Bank AG | Offer | 0 |
| Goldman Sachs & Co. | Offer | 0 |
| J.P. Morgan Securities Inc. | Offer | 0 |
| Morgan Stanley & Co. Incorporated | Offer | 0 |
| The Royal Bank of Scotland PLC | Offer | 0 |
| UBS Securities LLC | Offer | 8.156 |
Net Open Interest: $12.916 million to sell
| Sum of Buy Physical Requests | $0 |
| Sum of Sell Physical Requests | $12.916m |
| Sum of Physical Request Trades | $0 |
| Sum of Limit Order Trades | $12.916m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Citigroup Global Markets Inc.** | 7.625* | 2 |
| Banc of America Securities LLC** | 7.625* | 2 |
| J.P. Morgan Securities Inc.** | 7* | 2 |
| BNP Paribas** | 7* | 2 |
| UBS Securities LLC ** | 7* | 2 |
| Credit Suisse International** | 6.5^ | 2 |
| The Royal Bank of Scotland PLC** | 6.5^ | 2 |
| Deutsche Bank AG** | 6 | 2 |
| Goldman Sachs & Co.** | 6 | 2 |
| Banc of America Securities LLC | 6 | 2 |
| Goldman Sachs & Co. | 6 | 5 |
| Morgan Stanley & Co. Incorporated** | 5 | 2 |
| Morgan Stanley & Co. Incorporated | 5 | 12.916 |
| Banc of America Securities LLC | 5 | 2 |
| Barclays Bank PLC** | 4 | 2 |
| Deutsche Bank AG | 2 | 12 |
| The Royal Bank of Scotland PLC | 1 | 12.916 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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