Hellenic Republic Auction Results, 19 March 2012
Final Results of the Hellenic Republic CDS Auction, 19 March 2012
Final Price: 21.5
On 19 March 2012, 14 dealers submitted initial markets, physical settlement requests and limit orders to the Hellenic Republic auction administered by Creditex and S&P Global to settle trades across the market referencing Hellenic Republic.
| Relevant Currency |
|---|
| EUR |
| Auction Currency Rates | |
|---|---|
| EUR/CHF | 0.82881 |
| EUR/EUR | 1.00000 |
| EUR/GBP | 1.20294 |
| EUR/JPY | 0.00911 |
| EUR/USD | 0.75924 |
The inputs and results are detailed below.
Dealer Initial Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Bank of America N.A. | 21.625 | 23.625 | Bank of America N.A. |
| Barclays Bank PLC | 21.0 | 23.0 | Barclays Bank PLC |
| BNP Paribas | 20.75 | 22.75 | BNP Paribas |
| Citigroup Global Markets Limited | 20.5 | 22.5 | Citigroup Global Markets Limited |
| Credit Suisse International | 20.25 | 22.25 | Credit Suisse International |
| Deutsche Bank AG | 20.25 | 22.25 | Deutsche Bank AG |
| Goldman Sachs International | 21.125 | 23.125 | Goldman Sachs International |
| HSBC Bank PLC | 20.25 | 22.25 | HSBC Bank PLC |
| JPMorgan Chase Bank N.A. | 21.25 | 23.25 | JPMorgan Chase Bank N.A. |
| Morgan Stanley & Co. International PLC | 21.0 | 23.0 | Morgan Stanley & Co. International PLC |
| Nomura International PLC | 20.0 | 22.0 | Nomura International PLC |
| Société Générale | 21.0 | 23.0 | Société Générale |
| The Royal Bank of Scotland PLC | 22.0 | 24.0 | The Royal Bank of Scotland PLC |
| UBS AG | 20.5 | 22.5 | UBS AG |
Initial Market Midpoint: 21.75
Adjustment Amounts
The Royal Bank of Scotland PLC
EUR 12,500
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 158.0 |
| Citigroup Global Markets Limited | Offer | 111.1 |
| Credit Suisse International | Offer | 0.0 |
| Deutsche Bank AG | Offer | 12.55 |
| Goldman Sachs International | Offer | 18.0 |
| HSBC Bank PLC | Offer | 332.0 |
| Nomura International PLC | Offer | 6.3 |
| Société Générale | Offer | 5.0 |
| The Royal Bank of Scotland PLC | Offer | 5.0 |
| Bank of America N.A. | Bid | 17.0 |
| Barclays Bank PLC | Bid | 24.3 |
| JPMorgan Chase Bank N.A. | Bid | 17.85 |
| Morgan Stanley & Co. International PLC | Bid | 236.55 |
| UBS AG | Bid | 60.65 |
Net Open Interest: EUR 291.6 million to sell
| Sum of Buy Physical Requests | 356.35m |
| Sum of Sell Physical Requests | 647.95m |
| Sum of Physical Request Trades | 356.35m |
| Sum of Limit Order Trades | 291.6m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| JPMorgan Chase Bank N.A. | 22.75* | 50.0 |
| Deutsche Bank AG | 22.75* | 19.5 |
| Citigroup Global Markets Limited | 22.75* | 10.0 |
| Credit Suisse International | 22.75* | 5.0 |
| Credit Suisse International | 22.125* | 5.0 |
| Citigroup Global Markets Limited | 21.75* | 50.0 |
| Barclays Bank PLC | 21.75* | 10.0 |
| The Royal Bank of Scotland PLC** | 21.75* | 5.0 |
| Barclays Bank PLC | 21.625* | 30.0 |
| Bank of America N.A.** | 21.625* | 5.0 |
| HSBC Bank PLC | 21.5^ | 60.0 |
| Barclays Bank PLC | 21.5^ | 60.0 |
| JPMorgan Chase Bank N.A. | 21.375 | 20.0 |
| Credit Suisse International | 21.375 | 5.0 |
| JPMorgan Chase Bank N.A.** | 21.25 | 5.0 |
| UBS AG | 21.25 | 1.0 |
| Goldman Sachs International** | 21.125 | 5.0 |
| Citigroup Global Markets Limited | 21.0 | 50.0 |
| Bank of America N.A. | 21.0 | 50.0 |
| Citigroup Global Markets Limited | 21.0 | 50.0 |
| Nomura International PLC | 21.0 | 25.0 |
| Credit Suisse International | 21.0 | 15.0 |
| HSBC Bank PLC | 21.0 | 10.0 |
| Barclays Bank PLC** | 21.0 | 5.0 |
| Société Générale** | 21.0 | 5.0 |
| Morgan Stanley & Co. International PLC** | 21.0 | 5.0 |
| Credit Suisse International | 21.0 | 3.5 |
| UBS AG | 20.75 | 25.0 |
| BNP Paribas** | 20.75 | 5.0 |
| HSBC Bank PLC | 20.625 | 15.0 |
| Credit Suisse International | 20.625 | 10.0 |
| UBS AG | 20.5 | 100.0 |
| Citigroup Global Markets Limited | 20.5 | 40.0 |
| Citigroup Global Markets Limited** | 20.5 | 5.0 |
| UBS AG** | 20.5 | 5.0 |
| Credit Suisse International | 20.375 | 10.5 |
| Credit Suisse International | 20.375 | 5.0 |
| Bank of America N.A. | 20.25 | 25.0 |
| Credit Suisse International** | 20.25 | 5.0 |
| Deutsche Bank AG** | 20.25 | 5.0 |
| HSBC Bank PLC** | 20.25 | 5.0 |
| UBS AG | 20.125 | 100.0 |
| Credit Suisse International | 20.125 | 25.0 |
| HSBC Bank PLC | 20.125 | 25.0 |
| Goldman Sachs International | 20.125 | 10.0 |
| Deutsche Bank AG | 20.125 | 10.0 |
| BNP Paribas | 20.125 | 5.0 |
| BNP Paribas | 20.125 | 2.0 |
| UBS AG | 20.0 | 75.0 |
| Citigroup Global Markets Limited | 20.0 | 50.0 |
| Citigroup Global Markets Limited | 20.0 | 40.0 |
| Barclays Bank PLC | 20.0 | 25.0 |
| Nomura International PLC | 20.0 | 25.0 |
| UBS AG | 20.0 | 12.0 |
| Deutsche Bank AG | 20.0 | 10.0 |
| Nomura International PLC** | 20.0 | 5.0 |
| Goldman Sachs International | 20.0 | 4.0 |
| HSBC Bank PLC | 19.625 | 25.0 |
| Credit Suisse International | 19.625 | 25.0 |
| Credit Suisse International | 19.625 | 5.0 |
| Goldman Sachs International | 19.625 | 2.0 |
| Bank of America N.A. | 19.5 | 50.0 |
| HSBC Bank PLC | 19.5 | 30.0 |
| Credit Suisse International | 19.375 | 5.0 |
| Barclays Bank PLC | 19.25 | 38.0 |
| Credit Suisse International | 19.125 | 40.0 |
| HSBC Bank PLC | 19.125 | 35.0 |
| BNP Paribas | 19.125 | 10.0 |
| Goldman Sachs International | 19.125 | 10.0 |
| BNP Paribas | 19.125 | 5.0 |
| UBS AG | 19.0 | 100.0 |
| Nomura International PLC | 19.0 | 14.0 |
| UBS AG | 19.0 | 12.0 |
| Deutsche Bank AG | 19.0 | 12.0 |
| Morgan Stanley & Co. International PLC | 19.0 | 12.0 |
| Credit Suisse International | 18.625 | 40.0 |
| HSBC Bank PLC | 18.625 | 35.0 |
| Credit Suisse International | 18.625 | 5.0 |
| Bank of America N.A. | 18.5 | 75.0 |
| Credit Suisse International | 18.375 | 5.0 |
| Nomura International PLC | 18.25 | 20.0 |
| BNP Paribas | 18.125 | 12.0 |
| BNP Paribas | 18.125 | 10.0 |
| Goldman Sachs International | 18.125 | 10.0 |
| Goldman Sachs International | 18.125 | 1.0 |
| UBS AG | 18.0 | 116.0 |
| UBS AG | 18.0 | 100.0 |
| Nomura International PLC | 18.0 | 14.0 |
| UBS AG | 18.0 | 12.0 |
| Morgan Stanley & Co. International PLC | 18.0 | 12.0 |
| Deutsche Bank AG | 18.0 | 12.0 |
| JPMorgan Chase Bank N.A. | 18.0 | 10.0 |
| JPMorgan Chase Bank N.A. | 18.0 | 10.0 |
| Goldman Sachs International | 18.0 | 5.0 |
| Bank of America N.A. | 17.5 | 91.6 |
| HSBC Bank PLC | 17.5 | 40.0 |
| BNP Paribas | 17.125 | 10.0 |
| Goldman Sachs International | 17.125 | 1.0 |
| Deutsche Bank AG | 17.0 | 150.0 |
| UBS AG | 17.0 | 100.0 |
| Nomura International PLC | 17.0 | 14.0 |
| UBS AG | 17.0 | 12.0 |
| Morgan Stanley & Co. International PLC | 17.0 | 12.0 |
| Deutsche Bank AG | 17.0 | 12.0 |
| JPMorgan Chase Bank N.A. | 17.0 | 10.0 |
| BNP Paribas | 16.125 | 10.0 |
| Goldman Sachs International | 16.125 | 1.0 |
| UBS AG | 16.0 | 91.6 |
| JPMorgan Chase Bank N.A. | 16.0 | 10.0 |
| Goldman Sachs International | 16.0 | 5.0 |
| HSBC Bank PLC | 15.5 | 50.0 |
| UBS AG | 15.0 | 100.0 |
| Nomura International PLC | 15.0 | 50.0 |
| JPMorgan Chase Bank N.A. | 15.0 | 20.0 |
| Citigroup Global Markets Limited | 15.0 | 15.0 |
| JPMorgan Chase Bank N.A. | 15.0 | 10.0 |
| Goldman Sachs International | 15.0 | 6.0 |
| Barclays Bank PLC | 14.0 | 25.0 |
| Citigroup Global Markets Limited | 13.5 | 15.0 |
| Morgan Stanley & Co. International PLC | 12.625 | 50.0 |
| Barclays Bank PLC | 12.5 | 50.0 |
| Citigroup Global Markets Limited | 12.0 | 20.0 |
| Goldman Sachs International | 12.0 | 10.0 |
| Goldman Sachs International | 11.125 | 5.0 |
| Morgan Stanley & Co. International PLC | 10.625 | 50.0 |
| JPMorgan Chase Bank N.A. | 8.0 | 10.0 |
| JPMorgan Chase Bank N.A. | 5.0 | 25.0 |
| JPMorgan Chase Bank N.A. | 3.0 | 25.0 |
| JPMorgan Chase Bank N.A. | 2.0 | 25.0 |
| JPMorgan Chase Bank N.A. | 1.0 | 50.0 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.