Market Volume: Observed trades in EUR and GBP investment grade corporate bonds

ICE Data Services incorporates a combination of publicly available data sets from trade repositories as well as proprietary and non-public sources of market colour and transactional data across global markets, along with evaluated pricing information and reference data to support statistical calibrations.

The market volume evolution represents the changes in the monthly aggregate volumes of all observed trades in securities in the relevant group, based to 100 as at September 2015. EUR Financials include approximately 4000 securities, GBP Financials 1500, EUR Non-Financials 3000, and GBP Non-Financials 1000.

ICMA intends to publish and monitor the market volume of IG Financials and Non-Financials on a monthly basis upon necessary permission of ICE Data Services.
 
    
Source: ICE Data Services

Top-traded corporate bonds in February 2021 (by volume)

ICE Data Services sources publicly available data sets from trade repositories and procures information from non-public sources of market colour and transactional data across global markets. Additionally, market colour, bid lists, dealer runs, and other transactional data is received from their global network of clients on the buy-side and sell-side.

While the rankings are based on traded volumes, the right-hand column (of below tables) indicates the relative volume of each bond expressed as a percentage of the most actively traded bond’s volume (100%).

EUR Financials
Rank Issuer Coupon and Maturity ISIN Relative volume
1 KREDITANST FUR WIE 0% GTD SNR 15/12/27 DE000A289F29 100%
2 KREDITANST FUR WIE 0% GTD SNR 15/12/27 DE000A168Y22 29%
3 CSE D'AMORT DETTE 0% SNR 25/05/31 DE000A168Y22 22%
4 NORDRH-WESTFALEN 0.95% SNR 10/01/21 DE000NRW0MP9 15%
5 CSE D'AMORT DETTE 0.125% SNR 25/10/23 FR0013344181 14%
6 KREDITANST FUR WIE 0% GTD SNR 10/01/31 DE000A3H2ZF6 13%
7 KREDITANST FUR WIE 0.01% SNR 31/03/25 DE000A254PS3 12%
8 CREDIT SUISSE AG 0.625% SNR MTN 18/01/33 CH0591979627 11%
9 CAIXABANK SA 1.125% SNR NPF 12/01/23 XS1679158094 10%
10 KREDITANST FUR WIE 0% GTD SNR 30/09/26 DE000A2TSTU4 10%
Source: ICE Data Services

GBP Financials
Rank Issuer Coupon and Maturity ISIN Relative volume
1 KREDITANST FUR WIE 1.375% SNR 15/12/25 XS1950905486 100%
2 DEXIA CREDIT LOCAL 1.125% GTD SNR 15/06/22 XS1644575752 14%
3 LLOYDS BANKING GP 2.707%-FRN SUB 03/12/35 XS2265524640 9%
4 KREDITANST FUR WIE 0.875% SNR 15/03/22 XS1548459178 8%
5 STHN PAC FNCG 5-B FRN M/BKD 06/43 XS0221839318 8%
6 WELLS FARGO & CO 4.875% LT2 29/11/35 XS0276684700 7%
7 DEXIA CREDIT LOCAL 0.5% GTD SNR 22/07/23 XS2182067277 6%
8 KREDITANST FUR WIE 0.125% GTD SNR 30/12/26 XS2281478268 6%
9 VIRGIN MEDIA SEC F 5% GTD SNR SEC 15/04/27 XS1555173019 6%
10 KREDITANST FUR WIE 0.875% SNR 18/07/24 XS2100726244 6%
Source: ICE Data Services

EUR Non-Financials
Rank Issuer Coupon and Maturity ISIN Relative volume
1 NIEDERSACHSEN 0.05% SNR 09/03/35 DE000A255CW0 100%
2 JOINT LAENDER 60 0.01% SNR 04/02/31 DE000A3H3F67 71%
3 NIEDERSACHSEN 0.01% SNR 13/08/30 DE000A3H2W42 67%
4 STELLANTIS N V 3.875% SNR 05/01/26 XS2178833773 49%
5 STELLANTIS N V 4.5% SNR EMTN 07/07/28 XS2199351375 46%
6 UNEDIC 0.1% GTD EMTN 25/05/34 FR0014001ZY9 40%
7 LVMH MOET HENNESSY 0.375% SNR 11/02/31 FR0013482841 31%
8 ACEA SPA 0.25% SNR EMTN 28/07/30 XS2292487076 30%
9 UNEDIC 0% GTD SNR 19/11/30 FR0014000L31 28%
10 TAKEDA PHARMACEUTI 3% SNR 21/11/30 XS1843449395 27%
Source: ICE Data Services

GBP Non-Financials
Rank Issuer Coupon and Maturity ISIN Relative volume
1 KON KPN NV 5.75% SNR MTN 17/09/29 XS0451790280 100%
2 STONEGATE PUB CO 8.25% GTD 31/07/25 XS2210014788 67%
3 TRINITY SQUARE15-1 FRN M/BKD 07/51 XS1327103336 63%
4 ONTARIO(PROV OF) 0.25% SNR 15/12/26 XS2283226798 57%
5 JAGUAR LAND ROVER 5% GTD SNR 15/02/22 XS1025866119 55%
6 WHITBREAD 3.375% GTD SNR 16/10/25 XS1235295539 50%
7 COMCAST CORP 1.875% GTD SNR 20/02/36 XS2114853455 42%
8 LEGAL & GENERAL GP 10%-STP SUB 23/07/2041 XS0441379095 36%
9 CAPITAL & COUNTIES 2% EXCH SNR 30/03/26 XS2262952679 33%
10 BAT CAPITAL CORP 2.125% GTD SNR 15/08/25 XS1664647499 32%
Source: ICE Data Services

Download


Historical data of the most actively traded corporate bonds on a monthly basis can be found below:

January 2021
December 2020
November 2020
October 2020
September 2020
August 2020
July 2020
June 2020
May 2020
April 2020
March 2020
February 2020

January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018




This document is provided for information purposes only and should not be relied upon as legal, financial, or other professional advice. While the information contained herein is taken from sources believed to be reliable, ICMA does not represent or warrant that it is accurate or complete and neither ICMA nor its employees shall have any liability arising from or relating to the use of this publication or its contents.    

© International Capital Market Association (ICMA), Zurich, 2021. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission from ICMA.
ICMA Zurich

T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich
ICMA London

T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris

T: +33 1 70 17 64 72
62 rue la Boétie
75008 Paris
ICMA Hong Kong

T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong
 
Copyright © 2021 International Capital Market Association.