Financial Guaranty Insurance Company (FGIC) Auction Results, 7 January 2010
Final Results of the Financial Guaranty Insurance Company (FGIC) CDS Auction, 7 January 2010
Final Price: 26
On 7 January 2010, 12 dealers submitted inside markets, physical settlement requests and limit orders to the Financial Guaranty Insurance Company (FGIC) auction administered by Creditex and Markit to settle trades across the market referencing Financial Guaranty Insurance Company.
The Financial Guaranty Insurance Company (FGIC) 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 |
|---|---|---|---|
| Banc of America Securities LLC | 17.5 | 20.5 | Banc of America Securities LLC |
| Barclays Bank PLC | 18 | 21 | Barclays Bank PLC |
| BNP Paribas | 20 | 23 | BNP Paribas |
| Citigroup Global Markets Inc. | 17 | 20 | Citigroup Global Markets Inc. |
| Credit Suisse International | 18.5 | 21.5 | Credit Suisse International |
| Deutsche Bank AG | 17 | 20 | Deutsche Bank AG |
| Goldman Sachs & Co. | 19 | 22 | Goldman Sachs & Co. |
| J.P. Morgan Securities, Inc. | 18.5 | 21.5 | J.P. Morgan Securities, Inc. |
| Morgan Stanley & Co. Incorporated | 18 | 20 | Morgan Stanley & Co. Incorporated |
| Nomura International PLC | 18.5 | 21.5 | Nomura International PLC |
| The Royal Bank of Scotland PLC | 18.75 | 21.75 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 19 | 22 | UBS Securities LLC |
Inside Market Midpoint: 19.75
Adjustment Amounts
No adjustment amounts
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 32.112 |
| Credit Suisse International | Offer | 9.438 |
| Deutsche Bank AG | Offer | 39.422 |
| Morgan Stanley & Co. Incorporated | Offer | 3.993 |
| The Royal Bank of Scotland PLC | Offer | 0 |
| Banc of America Securities LLC | Bid | 5.5 |
| Barclays Bank PLC | Bid | 64 |
| Goldman Sachs & Co. | Bid | 14 |
| J.P. Morgan Securities, Inc. | Bid | 3.5 |
| Nomura International PLC | Bid | 9.475 |
| UBS Securities LLC | Bid | 170.745 |
Net Open Interest: $182.255 million to buy
| Sum of Buy Physical Requests | $267.220m |
| Sum of Sell Physical Requests | $84.965m |
| Sum of Physical Request Trades | $84.965m |
| Sum of Limit Order Trades | $182.255m |
Limit Orders
| Dealer | Offer | Size |
|---|---|---|
| Citigroup Global Markets Inc. | 18.75* | 11 |
| Citigroup Global Markets Inc. | 18.75* | 3.13 |
| Citigroup Global Markets Inc. | 18.75* | 0.818 |
| Citigroup Global Markets Inc. | 18.75* | 0.042 |
| Citigroup Global Markets Inc. | 19.75* | 1.116 |
| Deutsche Bank AG | 20* | 12.4 |
| Citigroup Global Markets Inc. | 20* | 6 |
| Morgan Stanley & Co. Incorporated** | 20* | 2 |
| Citigroup Global Markets Inc.** | 20* | 2 |
| Deutsche Bank AG** | 20* # | 2 |
| Banc of America Securities LLC** | 20.5* | 2 |
| Barclays Bank PLC** | 21* | 2 |
| Nomura International PLC** | 21.5* | 2 |
| J.P. Morgan Securities, Inc.** | 21.5* | 2 |
| Credit Suisse International** | 21.5* | 2 |
| The Royal Bank of Scotland PLC** | 21.75* | 2 |
| Goldman Sachs & Co.** | 22* | 2 |
| UBS Securities LLC** | 22* | 2 |
| Barclays Bank PLC | 23* | 3 |
| BNP Paribas** | 23* | 2 |
| J.P. Morgan Securities, Inc. | 23.875* | 2 |
| Barclays Bank PLC | 24* | 3 |
| J.P. Morgan Securities, Inc. | 24.625* | 4 |
| Citigroup Global Markets Inc. | 24.75* | 7.748 |
| UBS Securities LLC | 25* | 55.852 |
| Goldman Sachs & Co. | 25* | 9.908 |
| Citigroup Global Markets Inc. | 25* | 6.868 |
| Barclays Bank PLC | 25* | 3 |
| Deutsche Bank AG | 25* | 2.989 |
| Goldman Sachs & Co. | 25* | 0.947 |
| Deutsche Bank AG | 25.25* | 7 |
| Deutsche Bank AG | 25.75* | 10 |
| UBS Securities LLC | 26^ | 12.334 |
| Barclays Bank PLC | 26^ | 5 |
| Citigroup Global Markets Inc. | 27 | 13.071 |
| Citigroup Global Markets Inc. | 27.5 | 0.89 |
| UBS Securities LLC | 29.75 | 35.739 |
| Citigroup Global Markets Inc. | 29.75 | 35 |
| Citigroup Global Markets Inc. | 29.75 | 15 |
| UBS Securities LLC | 31 | 4.869 |
| UBS Securities LLC | 32 | 0.952 |
| Banc of America Securities LLC | 32.625 | 9.728 |
| Citigroup Global Markets Inc. | 34 | 14.75 |
| UBS Securities LLC | 34.75 | 30 |
| Deutsche Bank AG | 35 | 20 |
| Deutsche Bank AG | 37 | 20 |
| Citigroup Global Markets Inc. | 38 | 3.49 |
| Citigroup Global Markets Inc. | 38.25 | 2.96 |
| Deutsche Bank AG | 39 | 20 |
| Citigroup Global Markets Inc. | 39.75 | 4.939 |
| Citigroup Global Markets Inc. | 40 | 16.858 |
| Citigroup Global Markets Inc. | 40.75 | 21.786 |
| Deutsche Bank AG | 41 | 20 |
| Banc of America Securities LLC | 41 | 12.112 |
| Citigroup Global Markets Inc. | 42.75 | 21.367 |
| Deutsche Bank AG | 43 | 20 |
| Citigroup Global Markets Inc. | 43.5 | 4.34 |
| Banc of America Securities LLC | 44.625 | 23.766 |
| Deutsche Bank AG | 45 | 20 |
| Morgan Stanley & Co. Incorporated | 45 | 13.1 |
| Deutsche Bank AG | 47 | 20 |
| Deutsche Bank AG | 49 | 20 |
| Deutsche Bank AG | 51 | 22.255 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
# Limit order amended to reflect change in the AST. Final results not impacted
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