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 January 2024 (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 buyside 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 2.375% GTD SNR 05/08/27 EUR DE000A351Y94 100%
2 KREDITANST FUR WIE 2.875% GTD SNR 29/05/26 EUR DE000A351MM7 89%
3 KREDITANST FUR WIE 2.625% GTD SNR 10/01/34 EUR DE000A352ED1 81%
4 KREDITANST FUR WIE 2.875% GTD 07/06/2033 EUR DE000A30V9M4 75%
5 LANDWIRT RENTENBK 2.75% GTD SNR 16/02/32 EUR XS2587748174 56%
6 KREDITANST FUR WIE 0% GTD SNR 15/12/2027 EUR DE000A289F29 54%
7 AGENCE FRANC DEV 3% SNR 17/01/2034 EUR100000 FR001400N7K2 33%
8 BANCO SANTANDER 3.75% SNR EMTN 09/01/34 EUR XS2743029840 32%
9 LA BANQUE POSTALE 3.85% SNR 08/03/2032 EUR100 FR001400LNR3 32%
10 BANCO SANTANDER 3.5%-FRN SNR 09/01/2030 EUR XS2743029766 30%

Source: ICE Data Services

GBP Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 KREDITANST FUR WIE 3.75% GTD SNR 09/01/29 GBP XS2744169637 100%
2 KREDITANST FUR WIE 0.875% GTD SNR 15/09/26 GBP XS2034715305 86%
3 BANCO SANTANDER 5.375% SNR 17/01/2031 GBP XS2748853194 75%
4 HSBC HOLDINGS PLC 6.8%-FRN 14/09/31 DUAL CURR XS2685873908 51%
5 UBS GROUP AG 7.375%-FRN SNR 07/09/33 GBP CH1211713198 44%
6 LLOYDS BANKING GP 1.875%-FRN SNR 15/01/26 GBP XS2100771547 44%
7 BARCLAYS PLC 3.25% SNR 12/02/2027 GBP XS1472663670 41%
8 VMED O2 UK FING I 4.5% SNR SEC 15/07/2031 GBP XS2358483258 40%
9 SOCIETE GENERALE FRN SNR NPF 22/01/2032 GBP FR001400NCB6 36%
10 AA BOND CO LTD 6% GTD SUB 31/07/2050 GBP XS2291336167 35%

Source: ICE Data Services

EUR Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 NORDRH-WESTFALEN 3.4% SNR 07/03/2073 EUR1000 DE000NRW0N26 100%
2 REGION WALLONNE 3.5% SNR EMTN 15/03/43 EUR BE0002923044 66%
3 GRIFOLS ESCROW ISS 3.875% SNR 15/10/28 EUR1000 XS2393001891 57%
4 GRIFOLS SA 3.2% GTD SNR 01/05/2025 EUR XS1598757760 48%
5 MERCEDES-BENZ INTL 3.25% GTD SNR 10/01/32 EUR DE000A3LSYH6 25%
6 VOLKSWAGEN LEASING 4% GTD SNR 11/04/31 EUR1000 XS2745726047 23%
7 DEUTSCHE LUFTHANSA 2.875% SNR 16/05/2027 EUR XS2408458730 21%
8 INTRUM AB 4.875% SNR 15/08/2025 EUR XS2211136168 20%
9 CARRIER GLOBAL COR 4.5% SNR 29/11/2032 EUR1000 XS2723577149 20%
10 NORDRH-WESTFALEN 2.9% SNR 15/01/2053 EUR1000 DE000NRW0NX1 20%

Source: ICE Data Services

GBP Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 STONEGATE PUB CO 8.25% GTD 31/07/2025 GBP XS2210014788 100%
2 CASTLE UK FINCO PL 7% GTD SNR SEC 15/05/29 GBP XS2447921896 61%
3 PUNCH FINANCE PLC 6.125% GTD 30/06/2026 GBP XS2357307664 49%
4 ARDAGH PACKAGING F 4.75% GTD SNR 15/07/27 GBP XS1628848241 45%
5 TRATON FINANCE 5.625% GTD SNR 16/01/29 GBP DE000A3LSV01 41%
6 ALLIED UNVL HOLDC/ 4.875% GTD 01/06/2028 GBP XS2342058034 36%
7 PINNACLE BIDCO PLC 10% GTD 11/10/2028 GBP XS2696093033 34%
8 ORSTED A/S 4.875% SNR 12/01/2032 GBP XS0730243150 33%
9 ADMIRAL GROUP 8.5% SUB 06/01/34 XS2643776680 32%
10 SW (FINANCE) I PLC 7.375% GTD 12/12/41 XS2731297235 29%

Source: ICE Data Services

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

December
November
October 
September
August 2023
June 2023
May 2023
April 2023 
March 2023 
February 2023 
January 2023
December 2022
November 2022
October 2022
September 2022
August 2022

See our archive for data (from January 2018).

 



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