Syncora Auction Results, 27th May 2009
Final Results of the Syncora CDS Auction, 27th May 2009
Final Price: 15
On 27th May 2009, 11 dealers submitted inside markets, physical settlement requests and limit orders to the Syncora auction administered by Creditex and Markit to settle trades across the market referencing Syncora Guarantee Inc..
The Syncora Deliverable Obligations are denominated in USD .
| Relevant Currency |
|---|
| USD |
| Auction Currency Rates | |
|---|---|
| USD/USD | 1.00000 |
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Bank of America / Merrill Lynch | 12.25 | 15.25 | Bank of America / Merrill Lynch |
| Barclays | 9 | 11 | Barclays |
| BNP Paribas | 12 | 15 | BNP Paribas |
| Citibank | 6 | 9 | Citibank |
| Credit Suisse | 11 | 14 | Credit Suisse |
| Deutsche Bank AG | 11.5 | 13.5 | Deutsche Bank AG |
| Goldman Sachs | 9 | 12 | Goldman Sachs |
| JPMorgan Chase Bank, N.A. | 11 | 14 | JPMorgan Chase Bank, N.A. |
| Morgan Stanley | 13 | 16 | Morgan Stanley |
| The Royal Bank of Scotland | 14 | 17 | The Royal Bank of Scotland |
| UBS | 6 | 9 | UBS |
Inside Market Midpoint: 12.375
Adjustment Amounts
Citibank: $67,500
UBS: $67,500
Barclays: $27,500
Goldman Sachs: $7,500
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 0 |
| Bank of America / Merrill Lynch | Offer | 0 |
| Barclays | Offer | 31.076 |
| Citibank | Offer | 100 |
| Credit Suisse | Offer | 0 |
| Goldman Sachs | Offer | 0 |
| Morgan Stanley | Offer | 0 |
| The Royal Bank of Scotland | Offer | 0 |
| Deutsche Bank AG | Bid | 134 |
| JPMorgan Chase Bank, N.A. | Bid | 92.5 |
| UBS | Bid | 139.5 |
Net Open Interest: $234.924 million to buy
| Sum of Buy Physical Requests | $366.000m |
| Sum of Sell Physical Requests | $131.076m |
| Sum of Physical Request Trades | $131.076m |
| Sum of Limit Order Trades | $234.924m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Citibank | 11.375* | 73.771 |
| Barclays | 11.375* | 13.02 |
| Barclays | 11.375* | 0.002 |
| Credit Suisse | 11.375* | 3.097 |
| Citibank | 11.375* | 17.694 |
| Morgan Stanley | 12* | 0.72 |
| Barclays** | 12.375* | 2 |
| Citibank** | 12.375* | 2 |
| Goldman Sachs** | 12.375* | 2 |
| UBS** | 12.375* | 2 |
| Goldman Sachs | 13* | 0.167 |
| Citibank | 13.5* | 25 |
| Deutsche Bank AG** | 13.5* | 2 |
| Bank of America / Merrill Lynch | 13.875* | 30 |
| JPMorgan Chase Bank, N.A.** | 14* | 2 |
| Credit Suisse** | 14* | 2 |
| Bank of America / Merrill Lynch | 14.25* | 25 |
| Barclays | 14.25* | 6.819 |
| Citibank | 14.5* | 25 |
| Citibank | 15^ | 25 |
| BNP Paribas** | 15^ | 2 |
| Bank of America / Merrill Lynch** | 15.25 | 2 |
| Citibank | 15.5 | 25 |
| Morgan Stanley** | 16 | 2 |
| Citibank | 16 | 9.394 |
| Citibank | 16 | 5.068 |
| Citibank | 16 | 17.719 |
| Morgan Stanley | 16 | 1.265 |
| Citibank | 16 | 25.153 |
| Citibank | 16.5 | 9.958 |
| Morgan Stanley | 16.5 | 9.958 |
| The Royal Bank of Scotland** | 17 | 2 |
| Bank of America / Merrill Lynch | 18 | 50 |
| Bank of America / Merrill Lynch | 20 | 100 |
| Morgan Stanley | 21.5 | 7.552 |
| Barclays | 26 | 0.335 |
| Credit Suisse | 29 | 11.398 |
| Barclays | 30 | 11.452 |
| Credit Suisse | 34 | 28.596 |
| Credit Suisse | 37 | 13.942 |
| JPMorgan Chase Bank, N.A. | 50 | 10 |
| Barclays | 55 | 13.523 |
| JPMorgan Chase Bank, N.A. | 80 | 10 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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