Argentine Rep Auction Results, 12 June 2020
Final Results of the Argentine Rep CDS Auction, 12 June 2020
Final Price: 31.5
On 12 June 2020, 11 dealers submitted initial markets, physical settlement requests and limit orders to the Argentine Rep auction administered by Creditex and Markit to settle trades across the market referencing Argentine Republic.
| Relevant Currency |
|---|
| USD |
| Auction Currency Rates | |
|---|---|
| USD/CHF | 1.06474 |
| USD/EUR | 1.13790 |
| USD/JPY | 0.00938 |
| USD/USD | 1.00000 |
The inputs and results are detailed below.
Dealer Initial Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Bank of America | 33.5 | 35.5 | Bank of America |
| Barclays | 33.0 | 35.0 | Barclays |
| BNP Paribas | 34.5 | 36.5 | BNP Paribas |
| Citigroup | 34.0 | 36.0 | Citigroup |
| Credit Suisse | 34.0 | 36.0 | Credit Suisse |
| Deutsche Bank | 34.0 | 36.0 | Deutsche Bank |
| Goldman Sachs | 33.0 | 35.0 | Goldman Sachs |
| HSBC | 33.125 | 35.125 | HSBC |
| J.P. Morgan Securities LLC. | 31.0 | 33.0 | J.P. Morgan Securities LLC. |
| Morgan Stanley | 32.125 | 34.125 | Morgan Stanley |
| RBC Capital Markets LLC | 35.5 | 37.5 | RBC Capital Markets LLC |
Initial Market Midpoint: 34.5
Adjustment Amounts
RBC Capital Markets LLC
USD 20,000
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Bank of America | Offer | 0.0 |
| Barclays | Offer | 40.947 |
| BNP Paribas | Offer | 2.129 |
| Credit Suisse | Offer | 0.0 |
| Deutsche Bank | Offer | 0.0 |
| HSBC | Offer | 335.11 |
| RBC Capital Markets LLC | Offer | 0.0 |
| Citigroup | Bid | 6.45 |
| Goldman Sachs | Bid | 30.85 |
| J.P. Morgan Securities LLC. | Bid | 25.0 |
| Morgan Stanley | Bid | 5.0 |
Net Open Interest: USD 310.886 million to sell
| Sum of Buy Physical Requests | 67.3m |
| Sum of Sell Physical Requests | 378.186m |
| Sum of Physical Request Trades | 67.3m |
| Sum of Limit Order Trades | 310.886m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Barclays | 35.5* | 30.0 |
| Barclays | 35.5* | 6.0 |
| HSBC | 34.625* | 60.0 |
| Barclays | 34.5* | 25.0 |
| RBC Capital Markets LLC** | 34.5* | 2.0 |
| BNP Paribas** | 34.5* | 2.0 |
| Morgan Stanley | 34.0* | 5.0 |
| Credit Suisse** | 34.0* | 2.0 |
| Citigroup** | 34.0* | 2.0 |
| Deutsche Bank** | 34.0* | 2.0 |
| Barclays | 33.75* | 4.5 |
| Barclays | 33.5* | 50.0 |
| Bank of America** | 33.5* | 2.0 |
| HSBC | 33.375* | 12.5 |
| HSBC | 33.125* | 35.0 |
| HSBC** | 33.125* | 2.0 |
| Barclays** | 33.0* | 2.0 |
| Goldman Sachs** | 33.0* | 2.0 |
| HSBC | 32.375* | 12.5 |
| Barclays | 32.25* | 25.0 |
| Barclays | 32.25* | 4.5 |
| Morgan Stanley** | 32.125* | 2.0 |
| Goldman Sachs | 32.0* | 5.0 |
| Barclays | 31.5^ | 35.0 |
| HSBC | 31.125 | 35.0 |
| HSBC | 31.125 | 12.5 |
| Goldman Sachs | 31.0 | 5.0 |
| J.P. Morgan Securities LLC.** | 31.0 | 2.0 |
| Barclays | 30.625 | 10.6 |
| Barclays | 30.5 | 0.3 |
| Barclays | 30.375 | 100.0 |
| Barclays | 30.25 | 25.0 |
| Barclays | 30.25 | 3.0 |
| HSBC | 30.125 | 30.0 |
| Barclays | 30.125 | 5.6 |
| J.P. Morgan Securities Inc. | 30.125 | 5.6 |
| Morgan Stanley | 30.125 | 2.8 |
| Morgan Stanley | 30.0 | 75.0 |
| Goldman Sachs | 30.0 | 10.0 |
| Goldman Sachs | 30.0 | 5.0 |
| HSBC | 29.625 | 12.5 |
| Barclays | 29.625 | 3.1 |
| HSBC | 29.125 | 20.0 |
| J.P. Morgan Securities Inc. | 29.125 | 15.4 |
| Barclays | 29.125 | 15.4 |
| Morgan Stanley | 29.125 | 7.7 |
| Goldman Sachs | 29.0 | 10.0 |
| Barclays | 28.625 | 3.3 |
| HSBC | 28.5 | 10.0 |
| Barclays | 28.375 | 100.0 |
| J.P. Morgan Securities Inc. | 28.125 | 16.2 |
| Barclays | 28.125 | 16.2 |
| HSBC | 28.125 | 12.5 |
| Morgan Stanley | 28.125 | 8.1 |
| Goldman Sachs | 28.0 | 10.0 |
| Barclays | 27.625 | 3.5 |
| Morgan Stanley | 27.5 | 100.0 |
| J.P. Morgan Securities Inc. | 27.125 | 19.6 |
| Barclays | 27.125 | 19.6 |
| Morgan Stanley | 27.125 | 9.8 |
| HSBC | 26.625 | 12.5 |
| Barclays | 26.625 | 3.6 |
| Barclays | 26.375 | 100.0 |
| Goldman Sachs | 26.125 | 30.0 |
| Barclays | 26.125 | 11.6 |
| J.P. Morgan Securities Inc. | 26.125 | 11.6 |
| Morgan Stanley | 26.125 | 5.8 |
| Morgan Stanley | 25.875 | 50.0 |
| Barclays | 25.625 | 12.0 |
| Barclays | 25.5 | 100.0 |
| Barclays | 25.5 | 0.5 |
| Morgan Stanley | 25.125 | 50.0 |
| Barclays | 25.125 | 28.0 |
| J.P. Morgan Securities Inc. | 25.125 | 28.0 |
| Morgan Stanley | 25.125 | 14.0 |
| HSBC | 25.125 | 12.5 |
| Morgan Stanley | 25.0 | 150.0 |
| Barclays | 25.0 | 6.0 |
| Barclays | 24.625 | 3.2 |
| Morgan Stanley | 24.375 | 50.0 |
| Barclays | 24.0 | 100.0 |
| Morgan Stanley | 23.625 | 50.0 |
| Barclays | 23.625 | 3.7 |
| Morgan Stanley | 22.875 | 50.0 |
| Barclays | 22.625 | 3.9 |
| Morgan Stanley | 22.5 | 200.0 |
| Barclays | 22.5 | 100.0 |
| Morgan Stanley | 22.125 | 50.0 |
| Barclays | 21.625 | 4.2 |
| Barclays | 20.625 | 19.1 |
| Barclays | 20.125 | 28.0 |
| J.P. Morgan Securities Inc. | 20.125 | 28.0 |
| Morgan Stanley | 20.125 | 14.0 |
| Goldman Sachs | 20.0 | 30.0 |
| Morgan Stanley | 20.0 | 25.0 |
| Barclays | 20.0 | 6.0 |
| Morgan Stanley | 20.0 | 5.0 |
| Citigroup | 20.0 | 3.0 |
| Barclays | 19.625 | 4.7 |
| Morgan Stanley | 19.0 | 300.0 |
| Barclays | 18.625 | 5.0 |
| Barclays | 17.625 | 5.8 |
| Goldman Sachs | 17.5 | 25.0 |
| Barclays | 16.625 | 6.3 |
| Barclays | 15.625 | 7.2 |
| HSBC | 15.375 | 25.0 |
| Morgan Stanley | 15.0 | 25.0 |
| Barclays | 15.0 | 6.0 |
| Citigroup | 15.0 | 5.0 |
| Morgan Stanley | 15.0 | 5.0 |
| Barclays | 15.0 | 1.0 |
| Barclays | 14.625 | 8.1 |
| Barclays | 13.625 | 9.4 |
| Barclays | 12.625 | 10.8 |
| Goldman Sachs | 12.5 | 50.0 |
| Barclays | 11.625 | 12.7 |
| Barclays | 10.625 | 15.1 |
| HSBC | 10.375 | 25.0 |
| Morgan Stanley | 10.0 | 25.0 |
| Barclays | 10.0 | 24.0 |
| Citigroup | 10.0 | 1.0 |
| Barclays | 9.625 | 20.3 |
| Barclays | 8.625 | 25.0 |
| Barclays | 7.625 | 31.5 |
| Barclays | 6.625 | 41.1 |
| Barclays | 5.625 | 55.7 |
| HSBC | 5.375 | 50.0 |
| Barclays | 5.0 | 60.0 |
| HSBC | 3.25 | 50.0 |
| HSBC | 1.25 | 12.5 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.