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 S&P Global 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.