Smurfit-Stone Auction Results, 19th February 2009
Smurfit-Stone
CDS
Final Price: 8.875
Smurfit-Stone
LCDS
Final Price: 65.375
Final Results of the Smurfit-Stone CDS Auction, 19th February 2009
Final Price: 8.875
On 19th February 2009 , 11 dealers submitted inside markets, physical settlement requests and limit orders to the Smurfit-Stone auction administered by Creditex and Markit to settle trades across the market referencing Smurfit-Stone Container Enterprises, Inc. .
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Banc of America Securities, LLC | 7 | 9 | Banc of America Securities, LLC |
| Barclays Bank PLC | 6.5 | 8.5 | Barclays Bank PLC |
| BNP Paribas | 7 | 9 | BNP Paribas |
| Citigroup Global Markets Inc. | 7 | 9 | Citigroup Global Markets Inc. |
| Credit Suisse International | 6.25 | 8.25 | Credit Suisse International |
| Deutsche Bank AG | 6.5 | 8.5 | Deutsche Bank AG |
| Goldman Sachs & Co. | 6.75 | 8.75 | Goldman Sachs & Co. |
| J.P. Morgan Securities Inc. | 7.25 | 9.25 | J.P. Morgan Securities Inc. |
| Morgan Stanley & Co. Incorporated | 6.75 | 8.75 | Morgan Stanley & Co. Incorporated |
| The Royal Bank of Scotland PLC | 7 | 9 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 7 | 9 | UBS Securities LLC |
Inside Market Midpoint: 7.875
Adjustment Amounts
No adjustment amounts
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 0 |
| Banc of America Securities, LLC | Offer | 0 |
| Barclays Bank PLC | Offer | 5 |
| Citigroup Global Markets Inc. | Offer | 20 |
| Credit Suisse International | Offer | 20.705 |
| Deutsche Bank AG | Offer | 0 |
| Goldman Sachs & Co. | Offer | 64.19 |
| Morgan Stanley & Co. Incorporated | Offer | 29.78 |
| The Royal Bank of Scotland PLC | Offer | 0 |
| J.P. Morgan Securities Inc. | Bid | 11 |
| UBS Securities LLC | Bid | 0 |
Net Open Interest: $128.675 million to sell
| Sum of Buy Physical Requests | $11.000m |
| Sum of Sell Physical Requests | $139.675m |
| Sum of Physical Request Trades | $11.000m |
| Sum of Limit Order Trades | $128.675m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Goldman Sachs & Co. | 8.875^ | 10 |
| Goldman Sachs & Co. | 8.875^ | 10 |
| J.P. Morgan Securities Inc. | 8.875^ | 21 |
| Barclays Bank PLC | 8.875^ | 100 |
| Goldman Sachs & Co. | 8.875^ | 10 |
| Barclays Bank PLC | 8.875^ | 8 |
| Goldman Sachs & Co. | 8.5 | 10 |
| J.P. Morgan Securities Inc. | 8.5 | 10 |
| J.P. Morgan Securities Inc. | 8.5 | 5 |
| J.P. Morgan Securities Inc. | 8.5 | 10 |
| J.P. Morgan Securities Inc. | 8.5 | 25 |
| Barclays Bank PLC | 8.375 | 128.675 |
| Deutsche Bank AG | 8 | 3 |
| Goldman Sachs & Co. | 8 | 15 |
| Morgan Stanley & Co. Incorporated | 8 | 20 |
| Morgan Stanley & Co. Incorporated | 7.875 | 10 |
| The Royal Bank of Scotland PLC | 7.875 | 25 |
| J.P. Morgan Securities Inc. | 7.875 | 15 |
| Goldman Sachs & Co. | 7.875 | 20 |
| Morgan Stanley & Co. Incorporated | 7.625 | 10 |
| Morgan Stanley & Co. Incorporated | 7.5 | 10 |
| J.P. Morgan Securities Inc. ** | 7.25 | 2 |
| J.P. Morgan Securities Inc. | 7.25 | 20 |
| J.P. Morgan Securities Inc. | 7.25 | 15 |
| J.P. Morgan Securities Inc. | 7.25 | 25 |
| J.P. Morgan Securities Inc. | 7.25 | 10 |
| Morgan Stanley & Co. Incorporated | 7.125 | 20 |
| Banc of America Securities, LLC ** | 7 | 2 |
| BNP Paribas ** | 7 | 2 |
| The Royal Bank of Scotland PLC ** | 7 | 2 |
| Citigroup Global Markets Inc. ** | 7 | 2 |
| UBS Securities LLC ** | 7 | 2 |
| Goldman Sachs & Co. | 7 | 20 |
| UBS Securities LLC | 7 | 5 |
| Deutsche Bank AG | 7 | 11 |
| Morgan Stanley & Co. Incorporated | 7 | 50 |
| Morgan Stanley & Co. Incorporated ** | 6.75 | 2 |
| Goldman Sachs & Co. ** | 6.75 | 2 |
| Barclays Bank PLC ** | 6.5 | 2 |
| Deutsche Bank AG ** | 6.5 | 2 |
| Barclays Bank PLC | 6.5 | 1 |
| Credit Suisse International ** | 6.25 | 2 |
| Goldman Sachs & Co. | 6 | 5 |
| Barclays Bank PLC | 6 | 10 |
| Barclays Bank PLC | 5.5 | 15 |
| Citigroup Global Markets Inc. | 5 | 10 |
| Citigroup Global Markets Inc. | 2 | 30 |
| Deutsche Bank AG | 2 | 115 |
| Goldman Sachs & Co. | 2 | 18 |
| Goldman Sachs & Co. | 2 | 128 |
| Citigroup Global Markets Inc. | 0.5 | 100 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
Back to topFinal Results of the Smurfit-Stone LCDS Auction, 19th February 2009
Final Price: 65.375
On 19th February 2009 , 10 dealers submitted inside markets, physical settlement requests and limit orders to the Smurfit-Stone auction administered by Creditex and Markit to settle trades across the market referencing Smurfit-Stone Container Enterprises, Inc. .
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Bank of America, N.A. | 67 | 70 | Bank of America, N.A. |
| Barclays Bank PLC | 64 | 67 | Barclays Bank PLC |
| Citigroup Global Markets Inc. | 68 | 70 | Citigroup Global Markets Inc. |
| Credit Suisse International | 65.75 | 68.75 | Credit Suisse International |
| Deutsche Bank AG | 67.5 | 70.5 | Deutsche Bank AG |
| Goldman Sachs Credit Partners, LP | 64 | 67 | Goldman Sachs Credit Partners, LP |
| J.P. Morgan Securities Inc. | 68 | 71 | J.P. Morgan Securities Inc. |
| Morgan Stanley Senior Funding, Inc. | 68.25 | 71.25 | Morgan Stanley Senior Funding, Inc. |
| The Royal Bank of Scotland PLC | 66.5 | 69.5 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 65.5 | 68.5 | UBS Securities LLC |
Inside Market Midpoint: 68.25
Adjustment Amounts
No adjustment amounts
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Bank of America, N.A. | Offer | 10 |
| Barclays Bank PLC | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 0 |
| Credit Suisse International | Offer | 0 |
| Deutsche Bank AG | Offer | 0 |
| Goldman Sachs Credit Partners, LP | Offer | 29 |
| J.P. Morgan Securities Inc. | Offer | 0 |
| The Royal Bank of Scotland PLC | Offer | 3 |
| UBS Securities LLC | Offer | 0 |
| Morgan Stanley Senior Funding, Inc. | Bid | 2 |
Net Open Interest: $40 million to sell
| Sum of Buy Physical Requests | $2.0m |
| Sum of Sell Physical Requests | $42.0m |
| Sum of Physical Request Trades | $2.0m |
| Sum of Limit Order Trades | $40.0m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Morgan Stanley Senior Funding, Inc. ** | 68.25* | 2 |
| Citigroup Global Markets Inc. ** | 68.25* | 2 |
| J.P. Morgan Securities Inc. ** | 68* | 2 |
| Deutsche Bank AG ** | 67.5* | 2 |
| Morgan Stanley Senior Funding, Inc. | 67.375* | 3 |
| Bank of America, N.A. ** | 67* | 2 |
| Morgan Stanley Senior Funding, Inc. | 67* | 2 |
| Morgan Stanley Senior Funding, Inc. | 66.625* | 2 |
| The Royal Bank of Scotland PLC ** | 66.5* | 2 |
| Morgan Stanley Senior Funding, Inc. | 66.125* | 3 |
| Credit Suisse International ** | 65.75* | 2 |
| UBS Securities LLC ** | 65.5* | 2 |
| Goldman Sachs Credit Partners, LP | 65.375^ | 29 |
| Morgan Stanley Senior Funding, Inc. | 65.375^ | 10 |
| Morgan Stanley Senior Funding, Inc. | 64.625 | 10 |
| Bank of America, N.A. | 64.5 | 3 |
| Goldman Sachs Credit Partners, LP ** | 64 | 2 |
| Barclays Bank PLC ** | 64 | 2 |
| Morgan Stanley Senior Funding, Inc. | 63.125 | 5 |
| The Royal Bank of Scotland PLC | 63 | 40 |
| Barclays Bank PLC | 63 | 40 |
| Morgan Stanley Senior Funding, Inc. | 62.375 | 5 |
| Bank of America, N.A. | 61.25 | 5 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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