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 June 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 | BANKINTER SA | 1.25%-FRN LT2 23/12/32 | ES0213679OF4 | 100% |
| 2 | KREDITANST FUR WIE | 1.125% SNR 15/06/37 | DE000A2DAR40 | 81% |
| 3 | KREDITANST FUR WIE | 0% GTD SNR 15/06/26 | DE000A3H3E76 | 63% |
| 4 | CSE D'AMORT DETTE | 0% SNR 25/11/26 | FR0014004016 | 54% |
| 5 | CSE D'AMORT DETTE | 0.125% SNR 25/10/23 | FR0013344181 | 43% |
| 6 | AGENCE FRANCE LOCA | 0% SNR EMTN 20/03/31 | FR0014001LQ5 | 42% |
| 7 | KREDITANST FUR WIE | 0.375% GTD SNR 15/03/23 | DE000A168Y22 | 37% |
| 8 | KREDITANST FUR WIE | 0.125% GTD SNR 07/06/23 | DE000A2LQHV8 | 33% |
| 9 | KREDITANST FUR WIE | 0% GTD SNR 30/06/23 | DE000A289RC9 | 32% |
| 10 | KREDITANST FUR WIE | 0% GTD SNR 18/02/25 | DE000A254PM6 | 31% |
GBP Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | KREDITANST FUR WIE | 0.875% GTD SNR 15/09/26 | XS2034715305 | 100% |
| 2 | LANDWIRT RENTENBK | 1.375% GTD SNR 08/09/25 | XS1872363558 | 29% |
| 3 | KREDITANST FUR WIE | 1.25% SNR 29/12/23 | XS1850250710 | 18% |
| 4 | KOMMUNEKREDIT | 0.375% SNR 15/11/24 | XS2342994170 | 15% |
| 5 | NATWEST GROUP PLC | 2.105%-FRN LT2 28/11/31 | XS2346516250 | 12% |
| 6 | KREDITANST FUR WIE | 1.375% SNR 15/12/25 | XS1950905486 | 11% |
| 7 | ELVET MORTGAGES | FRN M/BKD 03/65 | XS2176220429 | 11% |
| 8 | Export Development Canada | FRN UNSUB 24/05/23 | XS1824425422 | 10% |
| 9 | SKIPTON BS | FRN GTD SNR 05/23 | XS1815379497 | 9% |
| 10 | VMED O2 UK FING I | 4% SNR SEC 31/01/29 | XS2231189924 | 9% |
EUR Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | UNEDIC | 0.01% GTD SNR 25/05/31 | FR0014002P50 | 100% |
| 2 | FRAPORT AG | 1.875% SNR 31/03/28 | XS2324724645 | 77% |
| 3 | ESSILORLUXOTTICA | 0% SNR EMTN 27/05/23 | FR0013463643 | 67% |
| 4 | PROJECT LIETZENBUR | 3% GTD 28/11/23 | DE000A3KRDQ5 | 64% |
| 5 | NORDRH-WESTFALEN | 0% SNR 02/04/24 | DE000NRW0L93 | 59% |
| 6 | ENEL FIN INT NV | 0.875% GTD SNR 17/06/36 | XS2353182376 | 58% |
| 7 | RYANAIR DAC | 0.875% GTD SNR 25/05/26 | XS2344385815 | 55% |
| 8 | UNEDIC | 0% GTD SNR 05/03/30 | FR0013489259 | 49% |
| 9 | AUTOSTRADE | 2% SNR 15/01/30 | XS2278566299 | 48% |
| 10 | SANOFI | 0.5% SNR EMTN 21/03/23 | FR0013324332 | 44% |
GBP Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | SNCF RESEAU | 5.25% SNR EMTN 07/12/28 | XS0096412548 | 100% |
| 2 | CORNWALL JERSEY LD | 0.75% EXCH GTD 16/04/26 | XS2332692719 | 97% |
| 3 | AKELIUS RESIDENT P | 2.375% SNR 15/08/25 | XS1684269761 | 88% |
| 4 | AUTOSTRADE | 6.25% GTD SNR 09/06/22 | XS0193942124 | 86% |
| 5 | AVIVA | 6.125%-FRN SUB 14/11/36 | XS0138717441 | 86% |
| 6 | CANARY WHARF GRO | 3.375% SNR SEC 23/04/28 | XS2327414731 | 85% |
| 7 | JUST GROUP PLC | 8.125% LT2 26/10/29 | XS2059770409 | 69% |
| 8 | MILLER HOMES GROUP | FRN GTD SNR SEC 10/23 | XS1689521802 | 63% |
| 9 | DEUCE FINCO PLC | 5.5% SNR SEC 15/06/27 | XS2351480996 | 63% |
| 10 | LVMH MOET HENNESSY | 1.125% SNR 11/02/27 | FR0013482866 | 61% |
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Historical data of the most actively traded corporate bonds on a monthly basis can be found below:
May 2021
April 2021
March 2021
February 2021
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.