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 Markit 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.