Rep of Ecuador Auction Results, 19 May 2020
Final Results of the Rep of Ecuador CDS Auction, 19 May 2020
Final Price: 34.875
On 19 May 2020, 10 dealers submitted initial markets, physical settlement requests and limit orders to the Rep of Ecuador auction administered by Creditex and S&P Global to settle trades across the market referencing Republic of Ecuador.
| Relevant Currency |
|---|
| USD |
| Auction Currency Rates | |
|---|---|
| USD/USD | 1.00000 |
The inputs and results are detailed below.
Dealer Initial Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Bank of America | 33.625 | 36.625 | Bank of America |
| Barclays | 33.5 | 36.5 | Barclays |
| BNP Paribas | 33.0 | 36.0 | BNP Paribas |
| Citigroup | 33.125 | 36.125 | Citigroup |
| Credit Suisse | 33.0 | 36.0 | Credit Suisse |
| Deutsche Bank | 33.0 | 36.0 | Deutsche Bank |
| Goldman Sachs | 32.5 | 35.5 | Goldman Sachs |
| J.P. Morgan Securities LLC. | 33.5 | 36.5 | J.P. Morgan Securities LLC. |
| Morgan Stanley | 32.0 | 35.0 | Morgan Stanley |
| RBC Capital Markets LLC | 33.0 | 36.0 | RBC Capital Markets LLC |
Initial Market Midpoint: 34.5
Adjustment Amounts
No Adjustment Amount
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Bank of America | Offer | 0.0 |
| BNP Paribas | Offer | 0.0 |
| Credit Suisse | Offer | 46.518 |
| Deutsche Bank | Offer | 0.0 |
| Goldman Sachs | Offer | 0.0 |
| J.P. Morgan Securities LLC. | Offer | 0.0 |
| Morgan Stanley | Offer | 0.0 |
| RBC Capital Markets LLC | Offer | 0.0 |
| Barclays | Bid | 69.8 |
| Citigroup | Bid | 4.0 |
Net Open Interest: USD 27.282 million to buy
| Sum of Buy Physical Requests | 73.8m |
| Sum of Sell Physical Requests | 46.518m |
| Sum of Physical Request Trades | 46.518m |
| Sum of Limit Order Trades | 27.282m |
Limit Orders
| Dealer | Offer | Size |
|---|---|---|
| Barclays | 34.0* | 18.808 |
| Morgan Stanley | 34.5* | 1.8 |
| Morgan Stanley | 34.875^ | 11.058 |
| Barclays | 35.0 | 5.0 |
| Morgan Stanley** | 35.0 | 2.0 |
| Credit Suisse | 35.0 | 1.0 |
| Barclays | 35.25 | 5.0 |
| Barclays | 35.5 | 5.0 |
| Goldman Sachs** | 35.5 | 2.0 |
| Credit Suisse | 35.5 | 1.0 |
| Morgan Stanley | 35.75 | 14.8 |
| J.P. Morgan Securities Inc. | 35.75 | 8.0 |
| Citigroup | 35.75 | 5.0 |
| Barclays | 35.75 | 5.0 |
| Barclays | 36.0 | 6.0 |
| Barclays | 36.0 | 5.0 |
| Goldman Sachs | 36.0 | 5.0 |
| BNP Paribas** | 36.0 | 2.0 |
| RBC Capital Markets LLC** | 36.0 | 2.0 |
| Credit Suisse** | 36.0 | 2.0 |
| Deutsche Bank** | 36.0 | 2.0 |
| Citigroup** | 36.125 | 2.0 |
| Citigroup | 36.25 | 5.0 |
| Barclays | 36.375 | 0.75 |
| Barclays | 36.5 | 5.0 |
| Barclays** | 36.5 | 2.0 |
| J.P. Morgan Securities LLC.** | 36.5 | 2.0 |
| Bank of America** | 36.625 | 2.0 |
| Citigroup | 36.75 | 5.0 |
| Barclays | 36.875 | 0.5 |
| Citigroup | 37.25 | 5.0 |
| Citigroup | 37.75 | 5.0 |
| Barclays | 37.875 | 0.75 |
| J.P. Morgan Securities Inc. | 38.5 | 5.0 |
| Barclays | 38.875 | 0.75 |
| Morgan Stanley | 39.75 | 12.0 |
| Barclays | 39.875 | 1.0 |
| J.P. Morgan Securities Inc. | 40.0 | 5.0 |
| Morgan Stanley | 40.75 | 5.0 |
| Morgan Stanley | 42.75 | 10.0 |
| Goldman Sachs | 45.0 | 10.0 |
| Goldman Sachs | 75.0 | 20.0 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.