Lebanese Rep Auction Results, 23 April 2020
Please note that the Open Interest has been amended in accordance with Section 15(b) of the Auction Settlement Terms.
Final Results of the Lebanese Rep CDS Auction, 23 April 2020
Final Price: 14.125
On 23 April 2020, 8 dealers submitted initial markets, physical settlement requests and limit orders to the Lebanese Rep auction administered by Creditex and S&P Global to settle trades across the market referencing Lebanese Republic.
| Relevant Currency |
|---|
| USD |
| Auction Currency Rates | |
|---|---|
| USD/USD | 1.00000 |
The inputs and results are detailed below.
Dealer Initial Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Barclays Bank PLC | 14.0 | 17.0 | Barclays Bank PLC |
| Citigroup Global Markets Limited | 15.5 | 18.5 | Citigroup Global Markets Limited |
| Credit Suisse International | 12.5 | 15.5 | Credit Suisse International |
| Deutsche Bank Aktiengesellschaft | 15.0 | 18.0 | Deutsche Bank Aktiengesellschaft |
| Goldman Sachs International | 15.0 | 18.0 | Goldman Sachs International |
| J.P. Morgan Securities PLC | 12.375 | 15.375 | J.P. Morgan Securities PLC |
| Merrill Lynch International | 15.0 | 18.0 | Merrill Lynch International |
| Morgan Stanley & Co. International PLC | 16.5 | 19.5 | Morgan Stanley & Co. International PLC |
Initial Market Midpoint: 16.375
Adjustment Amounts
Morgan Stanley & Co. International PLC
USD 2,500
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Barclays Bank PLC | Offer | 111.8 |
| Credit Suisse International | Offer | 0.0 |
| Goldman Sachs International | Offer | 56.9 |
| Merrill Lynch International | Offer | 0.0 |
| Morgan Stanley & Co. International PLC | Offer | 0.0 |
| Citigroup Global Markets Limited | Bid | 40.5 |
| Deutsche Bank Aktiengesellschaft | Bid | 0.0 |
| J.P. Morgan Securities PLC | Bid | 19.5 |
Net Open Interest: USD 108.7 million to sell
| Sum of Buy Physical Requests | 60.0m |
| Sum of Sell Physical Requests | 168.7m |
| Sum of Physical Request Trades | 60.0m |
| Sum of Limit Order Trades | 108.7m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Barclays Bank PLC | 17.375* | 5.0 |
| Barclays Bank PLC | 17.375* | 4.0 |
| Barclays Bank PLC | 17.375* | 2.5 |
| Merrill Lynch International | 17.375* | 1.0 |
| Barclays Bank PLC | 17.0* | 0.6 |
| Merrill Lynch International | 16.625* | 5.25 |
| Barclays Bank PLC | 16.5* | 6.0 |
| Barclays Bank PLC | 16.375* | 5.0 |
| Barclays Bank PLC | 16.375* | 2.5 |
| Barclays Bank PLC | 16.375* | 2.0 |
| Morgan Stanley & Co. International PLC** | 16.375* | 2.0 |
| Barclays Bank PLC | 16.0* | 4.2 |
| Barclays Bank PLC | 16.0* | 0.6 |
| Merrill Lynch International | 15.625* | 3.0 |
| Barclays Bank PLC | 15.5* | 5.0 |
| Barclays Bank PLC | 15.5* | 2.5 |
| Morgan Stanley & Co. International PLC | 15.5* | 2.0 |
| Citigroup Global Markets Limited** | 15.5* | 2.0 |
| Goldman Sachs International** | 15.0* | 2.0 |
| Morgan Stanley & Co. International PLC | 15.0* | 2.0 |
| Deutsche Bank Aktiengesellschaft** | 15.0* | 2.0 |
| Merrill Lynch International** | 15.0* | 2.0 |
| Merrill Lynch International | 14.625* | 3.0 |
| Merrill Lynch International | 14.5* | 30.0 |
| Morgan Stanley & Co. International PLC | 14.5* | 2.0 |
| Barclays Bank PLC | 14.25* | 6.0 |
| Merrill Lynch International | 14.125^ | 30.0 |
| J.P. Morgan Securities PLC | 14.125^ | 15.0 |
| J.P. Morgan Securities PLC | 14.0 | 26.2 |
| Merrill Lynch International | 14.0 | 10.0 |
| Barclays Bank PLC | 14.0 | 5.0 |
| Barclays Bank PLC** | 14.0 | 2.0 |
| Morgan Stanley & Co. International PLC | 14.0 | 2.0 |
| Merrill Lynch International | 13.625 | 2.75 |
| Morgan Stanley & Co. International PLC | 13.5 | 2.0 |
| Barclays Bank PLC | 13.125 | 2.0 |
| Barclays Bank PLC | 13.0 | 5.0 |
| Morgan Stanley & Co. International PLC | 13.0 | 2.0 |
| Merrill Lynch International | 12.625 | 3.75 |
| Citigroup Global Markets Limited | 12.5 | 20.0 |
| Credit Suisse International** | 12.5 | 2.0 |
| Morgan Stanley & Co. International PLC | 12.5 | 2.0 |
| Goldman Sachs International | 12.375 | 5.0 |
| J.P. Morgan Securities PLC** | 12.375 | 2.0 |
| J.P. Morgan Securities PLC | 12.125 | 15.0 |
| Barclays Bank PLC | 12.0 | 5.0 |
| Morgan Stanley & Co. International PLC | 12.0 | 2.0 |
| J.P. Morgan Securities PLC | 12.0 | 1.5 |
| Goldman Sachs International | 11.875 | 5.0 |
| Merrill Lynch International | 11.625 | 6.5 |
| Barclays Bank PLC | 11.5 | 30.0 |
| Morgan Stanley & Co. International PLC | 11.5 | 2.0 |
| Goldman Sachs International | 11.375 | 5.0 |
| J.P. Morgan Securities PLC | 11.25 | 2.0 |
| J.P. Morgan Securities PLC | 11.125 | 20.0 |
| Goldman Sachs International | 11.125 | 5.0 |
| Morgan Stanley & Co. International PLC | 11.0 | 32.0 |
| Goldman Sachs International | 11.0 | 30.0 |
| J.P. Morgan Securities PLC | 11.0 | 30.0 |
| Barclays Bank PLC | 11.0 | 20.0 |
| Barclays Bank PLC | 11.0 | 5.0 |
| J.P. Morgan Securities PLC | 11.0 | 2.0 |
| Merrill Lynch International | 10.625 | 9.5 |
| Barclays Bank PLC | 10.5 | 100.0 |
| Barclays Bank PLC | 10.5 | 33.0 |
| J.P. Morgan Securities PLC | 10.5 | 2.0 |
| Morgan Stanley & Co. International PLC | 10.5 | 2.0 |
| Barclays Bank PLC | 10.375 | 5.0 |
| Barclays Bank PLC | 10.375 | 2.5 |
| J.P. Morgan Securities PLC | 10.25 | 2.0 |
| J.P. Morgan Securities PLC | 10.125 | 7.5 |
| Citigroup Global Markets Limited | 10.0 | 20.0 |
| Merrill Lynch International | 10.0 | 20.0 |
| Barclays Bank PLC | 10.0 | 10.0 |
| J.P. Morgan Securities PLC | 10.0 | 10.0 |
| Deutsche Bank Aktiengesellschaft | 10.0 | 3.0 |
| Morgan Stanley & Co. International PLC | 10.0 | 2.0 |
| J.P. Morgan Securities PLC | 10.0 | 1.5 |
| J.P. Morgan Securities PLC | 9.75 | 2.0 |
| Merrill Lynch International | 9.625 | 12.0 |
| J.P. Morgan Securities PLC | 9.5 | 2.0 |
| J.P. Morgan Securities PLC | 9.25 | 2.0 |
| J.P. Morgan Securities PLC | 9.125 | 10.0 |
| Goldman Sachs International | 9.0 | 50.0 |
| Barclays Bank PLC | 9.0 | 17.0 |
| J.P. Morgan Securities PLC | 9.0 | 10.0 |
| Barclays Bank PLC | 9.0 | 1.0 |
| J.P. Morgan Securities PLC | 8.75 | 2.0 |
| Merrill Lynch International | 8.625 | 15.0 |
| J.P. Morgan Securities PLC | 8.5 | 2.0 |
| J.P. Morgan Securities PLC | 8.25 | 2.0 |
| Barclays Bank PLC | 8.125 | 2.0 |
| Morgan Stanley & Co. International PLC | 8.0 | 100.0 |
| J.P. Morgan Securities PLC | 8.0 | 2.0 |
| Barclays Bank PLC | 8.0 | 1.0 |
| Goldman Sachs International | 7.75 | 5.0 |
| J.P. Morgan Securities PLC | 7.75 | 2.0 |
| Merrill Lynch International | 7.625 | 15.0 |
| Citigroup Global Markets Limited | 7.5 | 20.0 |
| Goldman Sachs International | 7.5 | 5.0 |
| J.P. Morgan Securities PLC | 7.5 | 2.0 |
| Goldman Sachs International | 7.25 | 5.0 |
| J.P. Morgan Securities PLC | 7.25 | 2.0 |
| J.P. Morgan Securities PLC | 7.125 | 15.0 |
| J.P. Morgan Securities PLC | 7.125 | 2.0 |
| Barclays Bank PLC | 7.0 | 16.0 |
| Goldman Sachs International | 7.0 | 10.0 |
| Barclays Bank PLC | 7.0 | 2.0 |
| Goldman Sachs International | 6.75 | 10.0 |
| Merrill Lynch International | 6.625 | 25.5 |
| J.P. Morgan Securities PLC | 6.625 | 25.0 |
| Goldman Sachs International | 6.5 | 10.0 |
| Goldman Sachs International | 6.25 | 10.0 |
| Barclays Bank PLC | 6.0 | 3.0 |
| J.P. Morgan Securities PLC | 5.125 | 17.5 |
| Citigroup Global Markets Limited | 5.0 | 25.2 |
| Deutsche Bank Aktiengesellschaft | 5.0 | 10.0 |
| Barclays Bank PLC | 5.0 | 3.0 |
| J.P. Morgan Securities PLC | 4.125 | 25.0 |
| Barclays Bank PLC | 4.0 | 5.0 |
| Barclays Bank PLC | 3.0 | 8.0 |
| Deutsche Bank Aktiengesellschaft | 2.0 | 40.0 |
| Barclays Bank PLC | 2.0 | 17.0 |
| Barclays Bank PLC | 1.0 | 50.0 |
| Deutsche Bank Aktiengesellschaft | 1.0 | 45.0 |
| Citigroup Global Markets Limited | 1.0 | 7.5 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.