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% |
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% |
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% |
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% |
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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
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© 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.