Great Lakes Auction Results, 14th April 2009
Final Results of the Great Lakes CDS Auction, 14th April 2009
Final Price: 18.25
On 14th April 2009, 11 dealers submitted inside markets, physical settlement requests and limit orders to the Great Lakes auction administered by Creditex and S&P Global to settle trades across the market referencing Great Lakes Chemical Corporation.
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Banc of America Securities LLC | 21.875 | 23.875 | Banc of America Securities LLC |
| Barclays Bank PLC | 21 | 23 | Barclays Bank PLC |
| BNP Paribas | 20.5 | 22.5 | BNP Paribas |
| Citigroup Global Markets Inc. | 21.5 | 23.5 | Citigroup Global Markets Inc. |
| Credit Suisse International | 22.5 | 24.5 | Credit Suisse International |
| Deutsche Bank AG | 21 | 23 | Deutsche Bank AG |
| Goldman Sachs & Co. | 22.5 | 24.5 | Goldman Sachs & Co. |
| J.P. Morgan Securities Inc. | 24 | 26 | J.P. Morgan Securities Inc. |
| Morgan Stanley & Co. Incorporated | 24 | 26 | Morgan Stanley & Co. Incorporated |
| The Royal Bank of Scotland PLC | 21.5 | 23.5 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 22 | 24 | UBS Securities LLC |
Inside Market Midpoint: 22.875
Adjustment Amounts
J.P. Morgan Securities Inc.: $22,500
Morgan Stanley & Co. Incorporated: $22,500
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 24.57 |
| Banc of America Securities LLC | Offer | 0 |
| Barclays Bank PLC | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 31.264 |
| Credit Suisse International | Offer | 3.935 |
| Deutsche Bank AG | Offer | 34.371 |
| Goldman Sachs & Co. | Offer | 7.4 |
| J.P. Morgan Securities Inc. | Offer | 0.61 |
| Morgan Stanley & Co. Incorporated | Offer | 15.282 |
| The Royal Bank of Scotland PLC | Offer | 0 |
| UBS Securities LLC | Offer | 13.2 |
Net Open Interest: $130.632 million to sell
| Sum of Buy Physical Requests | $0 |
| Sum of Sell Physical Requests | $130.632m |
| Sum of Physical Request Trades | $0 |
| Sum of Limit Order Trades | $130.632m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Goldman Sachs & Co. | 23.875* | 43 |
| UBS Securities LLC | 23.875* | 5 |
| J.P. Morgan Securities Inc.** | 22.875* | 2 |
| Morgan Stanley & Co. Incorporated** | 22.875* | 2 |
| Credit Suisse International** | 22.5* | 2 |
| Goldman Sachs & Co.** | 22.5* | 2 |
| UBS Securities LLC** | 22* | 2 |
| Banc of America Securities LLC** | 21.875* | 2 |
| The Royal Bank of Scotland PLC** | 21.5* | 2 |
| Citigroup Global Markets Inc.** | 21.5* | 2 |
| Deutsche Bank AG** | 21* | 2 |
| Barclays Bank PLC** | 21* | 2 |
| BNP Paribas** | 20.5* | 2 |
| UBS Securities LLC | 20.125* | 20 |
| Barclays Bank PLC | 20* | 10 |
| Citigroup Global Markets Inc. | 20* | 6 |
| Banc of America Securities LLC | 19.375* | 2 |
| Goldman Sachs & Co. | 19.25* | 2 |
| Barclays Bank PLC | 19* | 5 |
| Goldman Sachs & Co. | 19* | 10 |
| Banc of America Securities LLC | 18.875* | 5 |
| Deutsche Bank AG | 18.25^ | 10 |
| UBS Securities LLC | 18.125 | 20 |
| Goldman Sachs & Co. | 18 | 10 |
| Deutsche Bank AG | 17.25 | 5 |
| UBS Securities LLC | 17.125 | 130.632 |
| Goldman Sachs & Co. | 17 | 10 |
| UBS Securities LLC | 17 | 1 |
| Goldman Sachs & Co. | 17 | 3 |
| Deutsche Bank AG | 17 | 10 |
| Barclays Bank PLC | 17 | 20 |
| Morgan Stanley & Co. Incorporated | 17 | 2 |
| UBS Securities LLC | 16.875 | 75 |
| UBS Securities LLC | 16.5 | 100 |
| Goldman Sachs & Co. | 16 | 10 |
| Goldman Sachs & Co. | 16 | 25 |
| Citigroup Global Markets Inc. | 15 | 10 |
| J.P. Morgan Securities Inc. | 15 | 2 |
| UBS Securities LLC | 15 | 1 |
| Deutsche Bank AG | 15 | 25 |
| Morgan Stanley & Co. Incorporated | 15 | 3 |
| Deutsche Bank AG | 14.25 | 83 |
| UBS Securities LLC | 14.125 | 5 |
| The Royal Bank of Scotland PLC | 14.125 | 5 |
| Barclays Bank PLC | 14 | 15 |
| Citigroup Global Markets Inc. | 14 | 10 |
| Goldman Sachs & Co. | 14 | 2 |
| UBS Securities LLC | 14 | 2 |
| Citigroup Global Markets Inc. | 13 | 10 |
| UBS Securities LLC | 13 | 1 |
| UBS Securities LLC | 12.125 | 5 |
| The Royal Bank of Scotland PLC | 12.125 | 5 |
| Goldman Sachs & Co. | 12 | 7 |
| Barclays Bank PLC | 12 | 5 |
| UBS Securities LLC | 12 | 1 |
| J.P. Morgan Securities Inc. | 12 | 5 |
| UBS Securities LLC | 11 | 2 |
| Citigroup Global Markets Inc. | 11 | 20 |
| UBS Securities LLC | 10.125 | 5 |
| Goldman Sachs & Co. | 10.125 | 25 |
| The Royal Bank of Scotland PLC | 10.125 | 5 |
| Goldman Sachs & Co. | 10 | 3 |
| Barclays Bank PLC | 10 | 5 |
| Morgan Stanley & Co. Incorporated | 10 | 50 |
| Goldman Sachs & Co. | 10 | 10 |
| Citigroup Global Markets Inc. | 9 | 20 |
| Goldman Sachs & Co. | 8 | 5 |
| UBS Securities LLC | 8 | 5 |
| Barclays Bank PLC | 8 | 5 |
| Goldman Sachs & Co. | 7.5 | 25 |
| Citigroup Global Markets Inc. | 7 | 30 |
| UBS Securities LLC | 6.25 | 5 |
| UBS Securities LLC | 5.25 | 3 |
| Goldman Sachs & Co. | 5 | 50 |
| Citigroup Global Markets Inc. | 5 | 40 |
| Morgan Stanley & Co. Incorporated | 5 | 90 |
| Goldman Sachs & Co. | 5 | 130.632 |
| J.P. Morgan Securities Inc. | 5 | 20 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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