Bolivarian Republic of Venezuela Auction Results, 12 December 2017
Final Results of the Bolivarian Republic of Venezuela CDS Auction, 12 December 2017
Final Price: 24.5
On 12 December 2017, 10 dealers submitted initial markets, physical settlement requests and limit orders to the Bolivarian Republic of Venezuela auction administered by Creditex and Markit to settle trades across the market referencing Bolivarian Republic of Venezuela.
| 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 | 22.75 | 24.75 | Bank of America |
| Barclays | 23.25 | 25.25 | Barclays |
| Citigroup | 22.25 | 24.25 | Citigroup |
| Credit Suisse | 22.5 | 24.5 | Credit Suisse |
| Deutsche Bank | 22.25 | 24.25 | Deutsche Bank |
| Goldman Sachs | 22.75 | 24.75 | Goldman Sachs |
| J.P. Morgan Securities LLC. | 22.75 | 24.5 | J.P. Morgan Securities LLC. |
| Morgan Stanley | 22.5 | 24.5 | Morgan Stanley |
| Societe Generale | 22.25 | 24.25 | Societe Generale |
| Standard Chartered Bank | 21.75 | 23.75 | Standard Chartered Bank |
Initial Market Midpoint: 23.5
Adjustment Amounts
No Adjustment Amount
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| Bank of America | Offer | 37.439 |
| Citigroup | Offer | 37.43 |
| Credit Suisse | Offer | 0.0 |
| Deutsche Bank | Offer | 275.5 |
| Societe Generale | Offer | 0.0 |
| Standard Chartered Bank | Offer | 0.0 |
| Barclays | Bid | 209.852 |
| Goldman Sachs | Bid | 37.4 |
| J.P. Morgan Securities LLC. | Bid | 184.75 |
| Morgan Stanley | Bid | 23.5 |
Net Open Interest: USD 105.133 million to buy
| Sum of Buy Physical Requests | 455.502m |
| Sum of Sell Physical Requests | 350.369m |
| Sum of Physical Request Trades | 350.369m |
| Sum of Limit Order Trades | 105.133m |
Limit Orders
| Dealer | Offer | Size |
|---|---|---|
| Goldman Sachs | 22.5* | 25.0 |
| Barclays | 22.5* | 6.0 |
| Barclays | 23.0* | 7.0 |
| Barclays | 23.375* | 9.0 |
| Standard Chartered Bank** | 23.75* | 2.0 |
| Citigroup | 23.875* | 20.0 |
| Citigroup | 23.875* | 3.0 |
| Citigroup | 24.0* | 5.0 |
| Citigroup** | 24.25* | 2.0 |
| Deutsche Bank** | 24.25* | 2.0 |
| Societe Generale** | 24.25* | 2.0 |
| Goldman Sachs | 24.5^ | 20.0 |
| Morgan Stanley | 24.5^ | 10.0 |
| Morgan Stanley** | 24.5^ | 2.0 |
| J.P. Morgan Securities LLC.** | 24.5^ | 2.0 |
| Credit Suisse** | 24.5^ | 2.0 |
| Deutsche Bank | 24.625 | 40.0 |
| Goldman Sachs | 24.75 | 5.436 |
| Goldman Sachs** | 24.75 | 2.0 |
| Bank of America** | 24.75 | 2.0 |
| Deutsche Bank | 24.875 | 53.0 |
| Goldman Sachs | 24.875 | 25.0 |
| Standard Chartered Bank | 24.875 | 2.0 |
| Barclays | 25.0 | 10.0 |
| J.P. Morgan Securities Inc. | 25.0 | 8.0 |
| Morgan Stanley | 25.0 | 5.0 |
| Citigroup | 25.0 | 3.0 |
| Goldman Sachs | 25.125 | 25.0 |
| Barclays** | 25.25 | 2.0 |
| Standard Chartered Bank | 25.375 | 2.0 |
| Morgan Stanley | 25.5 | 10.0 |
| Standard Chartered Bank | 25.875 | 3.0 |
| Barclays | 26.0 | 10.0 |
| Morgan Stanley | 26.0 | 5.0 |
| Citigroup | 26.25 | 5.0 |
| Standard Chartered Bank | 26.375 | 3.0 |
| Morgan Stanley | 26.5 | 5.0 |
| Standard Chartered Bank | 26.875 | 3.0 |
| Citigroup | 27.0 | 19.0 |
| Citigroup | 27.0 | 10.0 |
| Morgan Stanley | 27.0 | 5.0 |
| Morgan Stanley | 27.5 | 5.0 |
| Barclays | 28.0 | 5.0 |
| Morgan Stanley | 29.5 | 5.0 |
| Standard Chartered Bank | 29.875 | 5.0 |
| Barclays | 30.0 | 10.0 |
| Standard Chartered Bank | 32.375 | 5.0 |
| Standard Chartered Bank | 34.875 | 5.0 |
| Barclays | 35.0 | 10.0 |
| Standard Chartered Bank | 37.375 | 5.0 |
| Barclays | 40.0 | 10.0 |
| Morgan Stanley | 50.0 | 50.0 |
| Barclays | 50.0 | 10.0 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.