Tribune Auction Results, 6th January 2009
Tribune
CDS
Final Price: 1.5
Tribune
LCDS
Final Price: 23.75
Final Results of the Tribune CDS Auction, 6th January 2009
Final Price: 1.5
On 6th January 2009 , 14 dealers submitted inside markets, physical settlement requests and limit orders to the Tribune auction administered by Creditex and Markit to settle trades across the market referencing Tribune Company .
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Bank of America Securities LLC | 1 | 3 | Bank of America Securities LLC |
| Barclays Bank PLC | 3 | 5 | Barclays Bank PLC |
| BNP Paribas | 3.25 | 5.25 | BNP Paribas |
| Citigroup Global Markets Inc. | 2.625 | 4.625 | Citigroup Global Markets Inc. |
| Credit Suisse International | 1.5 | 3.5 | Credit Suisse International |
| Deutsche Bank AG | 2.5 | 4.5 | Deutsche Bank AG |
| Dresdner Bank AG | 2.875 | 4.875 | Dresdner Bank AG |
| Goldman Sachs & Co. | 2.5 | 4.5 | Goldman Sachs & Co. |
| HSBC Bank USA, National Association | 2.5 | 4.5 | HSBC Bank USA, National Association |
| J.P. Morgan Securities Inc. | 2.75 | 4.75 | J.P. Morgan Securities Inc. |
| Merrill Lynch Capital Services, Inc. | 0.5 | 2.5 | Merrill Lynch Capital Services, Inc. |
| Morgan Stanley & Co. Incorporated | 2 | 4 | Morgan Stanley & Co. Incorporated |
| The Royal Bank of Scotland PLC | 2.25 | 4.25 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 3 | 5 | UBS Securities LLC |
Inside Market Midpoint: 3.5
Adjustment Amounts
No adjustment amounts
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Bank of America Securities LLC | Offer | 118 |
| Barclays Bank PLC | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 100 |
| Credit Suisse International | Offer | 9 |
| Goldman Sachs & Co. | Offer | 20 |
| J.P. Morgan Securities Inc. | Offer | 274 |
| Merrill Lynch Capital Services, Inc. | Offer | 155 |
| Morgan Stanley & Co. Incorporated | Offer | 102 |
| The Royal Bank of Scotland PLC | Offer | 40 |
| UBS Securities LLC | Offer | 19 |
| BNP Paribas | Bid | 7 |
| Deutsche Bank AG | Bid | 10 |
| Dresdner Bank AG | Bid | 40 |
| HSBC Bank USA, National Association | Bid | 15 |
Net Open Interest: $765 million to sell
| Sum of Buy Physical Requests | $72m |
| Sum of Sell Physical Requests | $837m |
| Sum of Physical Request Trades | $72m |
| Sum of Limit Order Trades | $765m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Citigroup Global Markets Inc. | 4* | 87 |
| BNP Paribas | 3.5* | 1 |
| Barclays Bank PLC** | 3.5* | 5 |
| BNP Paribas** | 3.5* | 5 |
| UBS Securities LLC** | 3* | 5 |
| Dresdner Bank AG** | 2.875* | 5 |
| J.P. Morgan Securities Inc.** | 2.75* | 5 |
| Bank of America Securities LLC | 2.625* | 5 |
| Goldman Sachs & Co. | 2.625* | 100 |
| Citigroup Global Markets Inc.** | 2.625* | 5 |
| HSBC Bank USA, National Association** | 2.5* | 5 |
| Goldman Sachs & Co.** | 2.5* | 5 |
| Deutsche Bank AG** | 2.5* | 5 |
| Bank of America Securities LLC | 2.375* | 10 |
| The Royal Bank of Scotland PLC** | 2.25* | 5 |
| Bank of America Securities LLC | 2* | 25 |
| Morgan Stanley & Co. Incorporated** | 2* | 5 |
| UBS Securities LLC | 1.625* | 100 |
| J.P. Morgan Securities Inc. | 1.5^ | 5 |
| Credit Suisse International** | 1.5^ | 5 |
| Barclays Bank PLC | 1.5^ | 30 |
| Bank of America Securities LLC | 1.5^ | 50 |
| UBS Securities LLC | 1.5^ | 765 |
| Barclays Bank PLC | 1.375 | 15 |
| Barclays Bank PLC | 1.25 | 15 |
| UBS Securities LLC | 1.25 | 10 |
| Goldman Sachs & Co. | 1.25 | 150 |
| UBS Securities LLC | 1.125 | 50 |
| J.P. Morgan Securities Inc. | 1.125 | 5 |
| Barclays Bank PLC | 1.125 | 15 |
| Citigroup Global Markets Inc. | 1.125 | 673 |
| Bank of America Securities LLC | 1.125 | 175 |
| Bank of America Securities LLC | 1 | 20 |
| UBS Securities LLC | 1 | 200 |
| Bank of America Securities LLC** | 1 | 5 |
| The Royal Bank of Scotland PLC | 1 | 10 |
| Barclays Bank PLC | 1 | 25 |
| J.P. Morgan Securities Inc. | 1 | 5 |
| UBS Securities LLC | 1 | 10 |
| Barclays Bank PLC | 0.875 | 25 |
| Bank of America Securities LLC | 0.875 | 20 |
| Bank of America Securities LLC | 0.75 | 20 |
| Barclays Bank PLC | 0.75 | 25 |
| UBS Securities LLC | 0.75 | 10 |
| Bank of America Securities LLC | 0.625 | 175 |
| Credit Suisse International | 0.5 | 300 |
| Bank of America Securities LLC | 0.5 | 20 |
| Merrill Lynch Capital Services, Inc. | 0.5 | 50 |
| The Royal Bank of Scotland PLC | 0.5 | 20 |
| J.P. Morgan Securities Inc. | 0.5 | 500 |
| BNP Paribas | 0.5 | 100 |
| Merrill Lynch Capital Services, Inc.** | 0.5 | 5 |
| UBS Securities LLC | 0.5 | 20 |
| Bank of America Securities LLC | 0.375 | 20 |
| Goldman Sachs & Co. | 0.25 | 300 |
| Bank of America Securities LLC | 0.25 | 500 |
| Goldman Sachs & Co. | 0.25 | 765 |
| Deutsche Bank AG | 0.25 | 495 |
** 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 Tribune LCDS Auction, 6th January 2009
Final Price: 23.75
On 6th January 2009 , 11 dealers submitted inside markets, physical settlement requests and limit orders to the Tribune auction administered by Creditex and Markit to settle trades across the market referencing Tribune Company .
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Bank of America, N.A. | 20.5 | 23.5 | Bank of America, N.A. |
| Barclays Bank PLC | 21.5 | 24.5 | Barclays Bank PLC |
| Citigroup Global Markets Inc. | 21.5 | 24.5 | Citigroup Global Markets Inc. |
| Credit Suisse International | 22 | 25 | Credit Suisse International |
| Deutsche Bank AG | 20.5 | 23.5 | Deutsche Bank AG |
| Goldman Sachs Credit Partners, LP | 28 | 31 | Goldman Sachs Credit Partners, LP |
| J.P. Morgan Securities Inc. | 20.5 | 23.5 | J.P. Morgan Securities Inc. |
| Merrill Lynch Capital Services, Inc. | 21 | 24 | Merrill Lynch Capital Services, Inc. |
| Morgan Stanley Senior Funding, Inc. | 21 | 24 | Morgan Stanley Senior Funding, Inc. |
| The Royal Bank of Scotland PLC | 21.25 | 24.25 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 22 | 25 | UBS Securities LLC |
Inside Market Midpoint: 22.75
Adjustment Amounts
Goldman Sachs Credit Partners, LP: $105,000
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Bank of America, N.A. | Offer | 0 |
| Barclays Bank PLC | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 0 |
| Deutsche Bank AG | Offer | 0 |
| J.P. Morgan Securities Inc. | Offer | 0 |
| Merrill Lynch Capital Services, Inc. | Offer | 0 |
| Morgan Stanley Senior Funding, Inc. | Offer | 9 |
| The Royal Bank of Scotland PLC | Offer | 0 |
| UBS Securities LLC | Offer | 0 |
| Credit Suisse International | Bid | 2 |
| Goldman Sachs Credit Partners, LP | Bid | 5 |
Net Open Interest: $2 million to sell
| Sum of Buy Physical Requests | $7m |
| Sum of Sell Physical Requests | $9m |
| Sum of Physical Request Trades | $7m |
| Sum of Limit Order Trades | $2m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Barclays Bank PLC | 23.75* | 2 |
| Merrill Lynch Capital Services, Inc. | 23.5 | 2 |
| Goldman Sachs Credit Partners, LP** | 22.75 | 2 |
| UBS Securities LLC | 22.5 | 2 |
| Credit Suisse International** | 22 | 2 |
| UBS Securities LLC** | 22 | 2 |
| J.P. Morgan Securities Inc. | 21.625 | 60 |
| Citigroup Global Markets Inc.** | 21.5 | 2 |
| Barclays Bank PLC** | 21.5 | 2 |
| The Royal Bank of Scotland PLC** | 21.25 | 2 |
| Merrill Lynch Capital Services, Inc.** | 21 | 2 |
| Morgan Stanley Senior Funding, Inc.** | 21 | 2 |
| J.P. Morgan Securities Inc. | 20.875 | 20 |
| J.P. Morgan Securities Inc.** | 20.5 | 2 |
| Bank of America, N.A.** | 20.5 | 2 |
| Deutsche Bank AG** | 20.5 | 2 |
| J.P. Morgan Securities Inc. | 20.125 | 30 |
| UBS Securities LLC | 12 | 2 |
| J.P. Morgan Securities Inc. | 12 | 20 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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