Ecuador Auction Results, 14th January 2009
Final Results of the Ecuador CDS Auction, 14th January 2009
Final Price: 31.375
On 14th January 2009 , 12 dealers submitted inside markets, physical settlement requests and limit orders to the Ecuador auction administered by Creditex and S&P Global to settle trades across the market referencing Republic of Ecuador .
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| ABN AMRO Bank N.V. | 33 | 35 | ABN AMRO Bank N.V. |
| Barclays Bank PLC | 31.25 | 33.25 | Barclays Bank PLC |
| Citigroup Global Markets Inc. | 30.5 | 32.5 | Citigroup Global Markets Inc. |
| Credit Suisse International | 31.125 | 33.125 | Credit Suisse International |
| Deutsche Bank | 31.5 | 33.5 | Deutsche Bank |
| Dresdner Bank AG | 32 | 34 | Dresdner Bank AG |
| Goldman Sachs & Co. | 30 | 32 | Goldman Sachs & Co. |
| HSBC Bank USA, National Association | 32 | 34 | HSBC Bank USA, National Association |
| J.P. Morgan Securities Inc. | 31 | 33 | J.P. Morgan Securities Inc. |
| Merrill Lynch, Pierce, Fenner, & Smith Incorporated | 31.5 | 33.5 | Merrill Lynch, Pierce, Fenner, & Smith Incorporated |
| Morgan Stanley & Co. Incorporated | 34 | 36 | Morgan Stanley & Co. Incorporated |
| UBS Securities LLC | 30.5 | 32.5 | UBS Securities LLC |
Inside Market Midpoint: 32.375
Adjustment Amounts
Goldman Sachs & Co.: $11,250
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| ABN AMRO Bank N.V. | Offer | 34 |
| Citigroup Global Markets Inc. | Offer | 27 |
| Deutsche Bank | Offer | 4 |
| Goldman Sachs & Co. | Offer | 15 |
| J.P. Morgan Securities Inc. | Offer | 19.632 |
| Merrill Lynch, Pierce, Fenner, & Smith Incorporated | Offer | 0 |
| Morgan Stanley & Co. Incorporated | Offer | 34.78 |
| UBS Securities LLC | Offer | 11.436 |
| Barclays Bank PLC | Bid | 20.5 |
| Credit Suisse International | Bid | 2.83 |
| Dresdner Bank AG | Bid | 200 |
| HSBC Bank USA, National Association | Bid | 0 |
Net Open Interest: $77.482 million to buy
| Sum of Buy Physical Requests | $223.330m |
| Sum of Sell Physical Requests | $145.848m |
| Sum of Physical Request Trades | $145.848m |
| Sum of Limit Order Trades | $77.482m |
Limit Orders
| Dealer | Bid | Size |
|---|---|---|
| Barclays Bank PLC | 31.375^ | 30 |
| Barclays Bank PLC | 31.375^ | 46.338 |
| Barclays Bank PLC | 31.375^ | 3.18 |
| Citigroup Global Markets Inc. | 31.375^ | 15 |
| ABN AMRO Bank N.V. | 32 | 12.665 |
| ABN AMRO Bank N.V. | 32.125 | 6.15 |
| Goldman Sachs & Co.** | 32.375 | 3 |
| UBS Securities LLC** | 32.375 | 3 |
| Citigroup Global Markets Inc.** | 32.5 | 3 |
| Deutsche Bank | 32.5 | 3.4 |
| J.P. Morgan Securities Inc.** | 33 | 3 |
| Barclays Bank PLC | 33 | 4.08 |
| Goldman Sachs & Co. | 33 | 2 |
| UBS Securities LLC | 33 | 10 |
| Credit Suisse International** | 33.125 | 3 |
| Barclays Bank PLC** | 33.25 | 3 |
| Merrill Lynch, Pierce, Fenner, & Smith Incorporated** | 33.5 | 3 |
| Deutsche Bank** | 33.5 | 3 |
| UBS Securities LLC | 33.5 | 1 |
| ABN AMRO Bank N.V. | 33.5 | 10.5 |
| HSBC Bank USA, National Association** | 34 | 3 |
| Dresdner Bank AG** | 34 | 3 |
| UBS Securities LLC | 34 | 2 |
| HSBC Bank USA, National Association | 34 | 2 |
| Deutsche Bank | 34.5 | 0.5 |
| Deutsche Bank | 34.5 | 0.4 |
| UBS Securities LLC | 34.5 | 2 |
| ABN AMRO Bank N.V.** | 35 | 3 |
| UBS Securities LLC | 35 | 2 |
| HSBC Bank USA, National Association | 35 | 3 |
| Morgan Stanley & Co. Incorporated** | 36 | 3 |
| HSBC Bank USA, National Association | 37 | 2 |
| HSBC Bank USA, National Association | 39 | 2 |
| J.P. Morgan Securities Inc. | 40 | 3.03 |
| HSBC Bank USA, National Association | 40 | 2 |
| Deutsche Bank | 42.5 | 8 |
| Dresdner Bank AG | 45 | 10 |
| Dresdner Bank AG | 50 | 25 |
| Dresdner Bank AG | 55 | 25 |
| Morgan Stanley & Co. Incorporated | 99 | 1 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
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