Financial Guaranty Insurance Company (FGIC) Auction Results, 7 January 2010
Final Results of the Financial Guaranty Insurance Company (FGIC) CDS Auction, 7 January 2010
Final Price: 26
On 7 January 2010, 12 dealers submitted inside markets, physical settlement requests and limit orders to the Financial Guaranty Insurance Company (FGIC) auction administered by Creditex and S&P Global to settle trades across the market referencing Financial Guaranty Insurance Company.
The Financial Guaranty Insurance Company (FGIC) Deliverable Obligations are denominated in USD.
| Relevant Currency |
|---|
| USD |
| Auction Currency Rates | |
|---|---|
| USD/USD | 1.00000 |
The inputs and results are detailed below.
Dealer Inside Markets
| Dealer | Bid | Offer | Dealer |
|---|---|---|---|
| Banc of America Securities LLC | 17.5 | 20.5 | Banc of America Securities LLC |
| Barclays Bank PLC | 18 | 21 | Barclays Bank PLC |
| BNP Paribas | 20 | 23 | BNP Paribas |
| Citigroup Global Markets Inc. | 17 | 20 | Citigroup Global Markets Inc. |
| Credit Suisse International | 18.5 | 21.5 | Credit Suisse International |
| Deutsche Bank AG | 17 | 20 | Deutsche Bank AG |
| Goldman Sachs & Co. | 19 | 22 | Goldman Sachs & Co. |
| J.P. Morgan Securities, Inc. | 18.5 | 21.5 | J.P. Morgan Securities, Inc. |
| Morgan Stanley & Co. Incorporated | 18 | 20 | Morgan Stanley & Co. Incorporated |
| Nomura International PLC | 18.5 | 21.5 | Nomura International PLC |
| The Royal Bank of Scotland PLC | 18.75 | 21.75 | The Royal Bank of Scotland PLC |
| UBS Securities LLC | 19 | 22 | UBS Securities LLC |
Inside Market Midpoint: 19.75
Adjustment Amounts
No adjustment amounts
Physical Settlement Requests
| Dealer | Bid/Offer | Size |
|---|---|---|
| BNP Paribas | Offer | 0 |
| Citigroup Global Markets Inc. | Offer | 32.112 |
| Credit Suisse International | Offer | 9.438 |
| Deutsche Bank AG | Offer | 39.422 |
| Morgan Stanley & Co. Incorporated | Offer | 3.993 |
| The Royal Bank of Scotland PLC | Offer | 0 |
| Banc of America Securities LLC | Bid | 5.5 |
| Barclays Bank PLC | Bid | 64 |
| Goldman Sachs & Co. | Bid | 14 |
| J.P. Morgan Securities, Inc. | Bid | 3.5 |
| Nomura International PLC | Bid | 9.475 |
| UBS Securities LLC | Bid | 170.745 |
Net Open Interest: $182.255 million to buy
| Sum of Buy Physical Requests | $267.220m |
| Sum of Sell Physical Requests | $84.965m |
| Sum of Physical Request Trades | $84.965m |
| Sum of Limit Order Trades | $182.255m |
Limit Orders
| Dealer | Offer | Size |
|---|---|---|
| Citigroup Global Markets Inc. | 18.75* | 11 |
| Citigroup Global Markets Inc. | 18.75* | 3.13 |
| Citigroup Global Markets Inc. | 18.75* | 0.818 |
| Citigroup Global Markets Inc. | 18.75* | 0.042 |
| Citigroup Global Markets Inc. | 19.75* | 1.116 |
| Deutsche Bank AG | 20* | 12.4 |
| Citigroup Global Markets Inc. | 20* | 6 |
| Morgan Stanley & Co. Incorporated** | 20* | 2 |
| Citigroup Global Markets Inc.** | 20* | 2 |
| Deutsche Bank AG** | 20* # | 2 |
| Banc of America Securities LLC** | 20.5* | 2 |
| Barclays Bank PLC** | 21* | 2 |
| Nomura International PLC** | 21.5* | 2 |
| J.P. Morgan Securities, Inc.** | 21.5* | 2 |
| Credit Suisse International** | 21.5* | 2 |
| The Royal Bank of Scotland PLC** | 21.75* | 2 |
| Goldman Sachs & Co.** | 22* | 2 |
| UBS Securities LLC** | 22* | 2 |
| Barclays Bank PLC | 23* | 3 |
| BNP Paribas** | 23* | 2 |
| J.P. Morgan Securities, Inc. | 23.875* | 2 |
| Barclays Bank PLC | 24* | 3 |
| J.P. Morgan Securities, Inc. | 24.625* | 4 |
| Citigroup Global Markets Inc. | 24.75* | 7.748 |
| UBS Securities LLC | 25* | 55.852 |
| Goldman Sachs & Co. | 25* | 9.908 |
| Citigroup Global Markets Inc. | 25* | 6.868 |
| Barclays Bank PLC | 25* | 3 |
| Deutsche Bank AG | 25* | 2.989 |
| Goldman Sachs & Co. | 25* | 0.947 |
| Deutsche Bank AG | 25.25* | 7 |
| Deutsche Bank AG | 25.75* | 10 |
| UBS Securities LLC | 26^ | 12.334 |
| Barclays Bank PLC | 26^ | 5 |
| Citigroup Global Markets Inc. | 27 | 13.071 |
| Citigroup Global Markets Inc. | 27.5 | 0.89 |
| UBS Securities LLC | 29.75 | 35.739 |
| Citigroup Global Markets Inc. | 29.75 | 35 |
| Citigroup Global Markets Inc. | 29.75 | 15 |
| UBS Securities LLC | 31 | 4.869 |
| UBS Securities LLC | 32 | 0.952 |
| Banc of America Securities LLC | 32.625 | 9.728 |
| Citigroup Global Markets Inc. | 34 | 14.75 |
| UBS Securities LLC | 34.75 | 30 |
| Deutsche Bank AG | 35 | 20 |
| Deutsche Bank AG | 37 | 20 |
| Citigroup Global Markets Inc. | 38 | 3.49 |
| Citigroup Global Markets Inc. | 38.25 | 2.96 |
| Deutsche Bank AG | 39 | 20 |
| Citigroup Global Markets Inc. | 39.75 | 4.939 |
| Citigroup Global Markets Inc. | 40 | 16.858 |
| Citigroup Global Markets Inc. | 40.75 | 21.786 |
| Deutsche Bank AG | 41 | 20 |
| Banc of America Securities LLC | 41 | 12.112 |
| Citigroup Global Markets Inc. | 42.75 | 21.367 |
| Deutsche Bank AG | 43 | 20 |
| Citigroup Global Markets Inc. | 43.5 | 4.34 |
| Banc of America Securities LLC | 44.625 | 23.766 |
| Deutsche Bank AG | 45 | 20 |
| Morgan Stanley & Co. Incorporated | 45 | 13.1 |
| Deutsche Bank AG | 47 | 20 |
| Deutsche Bank AG | 49 | 20 |
| Deutsche Bank AG | 51 | 22.255 |
** Limit Orders that were derived from inside markets.
* Limit Orders that were filled.
^ Limit Orders that were partially filled.
# Limit order amended to reflect change in the AST. Final results not impacted
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