Elpida Memory Auction Results, 22 March 2012
Final Results of the Elpida Memory CDS Auction, 22 March 2012
Final Price: 21
On 22 March 2012, 13 dealers submitted initial markets, physical settlement requests and limit orders to the Elpida Memory auction administered by Creditex and S&P Global to settle trades across the market referencing Elpida Memory, Inc..
| Relevant Currency |
|---|
| JPY |
| Auction Currency Rates | |
|---|---|
| JPY/JPY | 1.00000 |
The inputs and results are detailed below.
Dealer Initial Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Barclays Bank PLC | 20.0 | 22.0 | Barclays Bank PLC |
| BNP PARIBAS Securities (Japan) Ltd. | 20.0 | 22.0 | BNP PARIBAS Securities (Japan) Ltd. |
| Citigroup Global Markets Japan Inc. | 19.5 | 21.5 | Citigroup Global Markets Japan Inc. |
| Credit Suisse International | 18.75 | 20.75 | Credit Suisse International |
| Deutsche Securities, Inc. | 19.75 | 21.75 | Deutsche Securities, Inc. |
| Goldman Sachs International | 18.5 | 20.5 | Goldman Sachs International |
| JPMorgan Securities Japan Co., Ltd. | 19.0 | 21.0 | JPMorgan Securities Japan Co., Ltd. |
| Merrill Lynch Japan Securities Co., Ltd. | 19.5 | 21.5 | Merrill Lynch Japan Securities Co., Ltd. |
| Mizuho Securities Co., Ltd | 18.5 | 20.5 | Mizuho Securities Co., Ltd |
| Morgan Stanley MUFG Securities Co., Ltd. | 19.0 | 21.0 | Morgan Stanley MUFG Securities Co., Ltd. |
| Nomura Securities Co., Ltd. | 19.25 | 21.25 | Nomura Securities Co., Ltd. |
| The Royal Bank of Scotland plc | 18.75 | 20.75 | The Royal Bank of Scotland plc |
| UBS Securities Japan Ltd | 18.5 | 20.5 | UBS Securities Japan Ltd |
Initial Market Midpoint: 20.125
Adjustment Amounts
No Adjustment Amount
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP PARIBAS Securities (Japan) Ltd. | Offer | 0.0 |
| Citigroup Global Markets Japan Inc. | Offer | 0.0 |
| Goldman Sachs International | Offer | 300.0 |
| JPMorgan Securities Japan Co., Ltd. | Offer | 800.0 |
| Merrill Lynch Japan Securities Co., Ltd. | Offer | 1300.0 |
| Mizuho Securities Co., Ltd | Offer | 0.0 |
| Nomura Securities Co., Ltd. | Offer | 1000.0 |
| The Royal Bank of Scotland plc | Offer | 0.0 |
| UBS Securities Japan Ltd | Offer | 800.0 |
| Barclays Bank PLC | Bid | 700.0 |
| Credit Suisse International | Bid | 500.0 |
| Deutsche Securities, Inc. | Bid | 200.0 |
| Morgan Stanley MUFG Securities Co., Ltd. | Bid | 1000.0 |
Net Open Interest: JPY 1800 million to sell
| Sum of Buy Physical Requests | 2400.0m |
| Sum of Sell Physical Requests | 4200.0m |
| Sum of Physical Request Trades | 2400.0m |
| Sum of Limit Order Trades | 1800.0m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Citigroup Global Markets Japan Inc. | 21.125* | 500.0 |
| Deutsche Securities, Inc. | 21.125* | 300.0 |
| Nomura Securities Co., Ltd. | 21.125* | 300.0 |
| Goldman Sachs International | 21.125* | 300.0 |
| Citigroup Global Markets Japan Inc. | 21.0^ | 500.0 |
| Merrill Lynch Japan Securities Co., Ltd. | 21.0^ | 200.0 |
| Merrill Lynch Japan Securities Co., Ltd. | 20.75 | 400.0 |
| Citigroup Global Markets Japan Inc. | 20.625 | 1000.0 |
| Nomura Securities Co., Ltd. | 20.625 | 300.0 |
| Merrill Lynch Japan Securities Co., Ltd. | 20.5 | 500.0 |
| Goldman Sachs International | 20.5 | 300.0 |
| Nomura Securities Co., Ltd. | 20.25 | 500.0 |
| Deutsche Securities, Inc. | 20.25 | 500.0 |
| Barclays Bank PLC | 20.25 | 200.0 |
| Merrill Lynch Japan Securities Co., Ltd. | 20.125 | 1500.0 |
| Nomura Securities Co., Ltd. | 20.125 | 1000.0 |
| UBS Securities Japan Ltd | 20.125 | 500.0 |
| JPMorgan Securities Japan Co., Ltd. | 20.125 | 500.0 |
| Goldman Sachs International | 20.125 | 300.0 |
| UBS Securities Japan Ltd | 20.0 | 1000.0 |
| Barclays Bank PLC** | 20.0 | 200.0 |
| BNP PARIBAS Securities (Japan) Ltd.** | 20.0 | 200.0 |
| Barclays Bank PLC | 19.75 | 1800.0 |
| Merrill Lynch Japan Securities Co., Ltd. | 19.75 | 1800.0 |
| JPMorgan Securities Japan Co., Ltd. | 19.75 | 500.0 |
| Nomura Securities Co., Ltd. | 19.75 | 300.0 |
| Deutsche Securities, Inc.** | 19.75 | 200.0 |
| Merrill Lynch Japan Securities Co., Ltd. | 19.5 | 1800.0 |
| Credit Suisse International | 19.5 | 900.0 |
| Merrill Lynch Japan Securities Co., Ltd.** | 19.5 | 200.0 |
| Citigroup Global Markets Japan Inc.** | 19.5 | 200.0 |
| Nomura Securities Co., Ltd.** | 19.25 | 200.0 |
| Merrill Lynch Japan Securities Co., Ltd. | 19.0 | 1800.0 |
| Morgan Stanley MUFG Securities Co., Ltd. | 19.0 | 1000.0 |
| Credit Suisse International | 19.0 | 900.0 |
| Barclays Bank PLC | 19.0 | 300.0 |
| JPMorgan Securities Japan Co., Ltd.** | 19.0 | 200.0 |
| Morgan Stanley MUFG Securities Co., Ltd.** | 19.0 | 200.0 |
| The Royal Bank of Scotland plc** | 18.75 | 200.0 |
| Credit Suisse International** | 18.75 | 200.0 |
| UBS Securities Japan Ltd** | 18.5 | 200.0 |
| Nomura Securities Co., Ltd. | 18.5 | 200.0 |
| Goldman Sachs International | 18.5 | 200.0 |
| Goldman Sachs International** | 18.5 | 200.0 |
| Mizuho Securities Co., Ltd** | 18.5 | 200.0 |
| Morgan Stanley MUFG Securities Co., Ltd. | 16.0 | 1000.0 |
| Morgan Stanley MUFG Securities Co., Ltd. | 13.0 | 1600.0 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.