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 November 2022 (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 | 1.375% GTD SNR 07/06/32 | XS2475954900 | 100% |
| 2 | CSE D'AMORT DETTE | 2.875% EMTN 25/05/27 | FR001400DZI3 | 96% |
| 3 | KREDITANST FUR WIE | 0% GTD SNR 09/11/28 | DE000A3E5LU1 | 82% |
| 4 | HESSEN LAND | 2.625% SNR 10/09/27 | DE000A1RQEG5 | 76% |
| 5 | CREDIT SUISSE AG | 7.75%-FRN SNR 01/03/29 | CH1214797172 | 70% |
| 6 | CSE D'AMORT DETTE | 0.45% NTS 19/01/32 | FR0014007RB1 | 67% |
| 7 | KREDITANST FUR WIE | 0.75% GTD SNR 15/01/29 | DE000A2LQSN2 | 67% |
| 8 | KREDITANST FUR WIE | 0% GTD SNR 15/06/2026 | DE000A3H3E76 | 61% |
| 9 | KREDITANST FUR WIE | 2.5% GTD SNR 19/11/25 | DE000A30VUG3 | 58% |
| 10 | KREDITANST FUR WIE | 0% GTD SNR 31/03/27 | DE000A254PP9 | 50% |
Source: ICE Data Services
GBP Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | KREDITANST FUR WIE | 0.875% GTD SNR 18/07/24 | XS2100726244 | 100% |
| 2 | BARCLAYS PLC | 8.407%-FRN SUB 14/11/32 | XS2552367687 | 92% |
| 3 | KREDITANST FUR WIE | 0.875% GTD SNR 15/09/26 | XS2034715305 | 76% |
| 4 | MUNICIPALITY FIN | 0.375% GTD SNR 17/12/25 | XS2318615569 | 60% |
| 5 | KREDITANST FUR WIE | 1.375% GTD SNR 15/12/25 | XS1950905486 | 46% |
| 6 | KREDITANST FUR WIE | 1.25% GTD SNR 31/07/26 | XS2441530891 | 38% |
| 7 | MORGAN STANLEY | 5.789%-FRN SNR 18/11/33 | XS2558389891 | 35% |
| 8 | HSBC HOLDINGS PLC | 8.201%-FRN SUB 16/11/34 | XS2553549903 | 33% |
| 9 | NATWEST MARKETS PL | 6.375% SNR 08/11/2027 | XS2540612129 | 31% |
| 10 | LLOYDS BANK PLC | FRN GTD SNR 05/24 | XS1996336357 | 29% |
Source: ICE Data Services
EUR Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | UNEDIC | 0.1% GTD EMTN 25/05/34 | FR0014001ZY9 | 100% |
| 2 | BOUYGUES | 5.375% SNR 30/06/42 | FR001400DNF5 | 40% |
| 3 | VERIZON COMMUN | 4.75% 31/10/34 | XS2550898204 | 39% |
| 4 | CELLNEX TELECOM SA | 1.5% CNV SNR 16/01/26 | XS1750026186 | 34% |
| 5 | HONEYWELL INTL INC | 4.125% SNR 02/11/34 | XS2551903425 | 32% |
| 6 | CELLNEX TELECOM SA | 0.75% CNV SNR 20/11/31 | XS2257580857 | 30% |
| 7 | FLEMISH COMMUNITY | 3% SNR EMTN 12/10/32 | BE0002890722 | 30% |
| 8 | EDF | 4.75% SNR EMTN 12/10/34 | FR001400D6O8 | 28% |
| 9 | BOUYGUES | 4.625% SNR 07/06/32 | FR001400DNG3 | 27% |
| 10 | NORDRH-WESTFALEN | 3% SNR 27/01/28 | DE000NRW0NP7 | 23% |
Source: ICE Data Services
GBP Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | NORDRH-WESTFALEN | 1% SNR EMTN 13/06/25 | XS2476782631 | 100% |
| 2 | AXA SA | 5.625%-FRN LT2 16/01/54 | XS1004674450 | 78% |
| 3 | TVL FINANCE PLC | FRN GTD SNR SEC 07/25 | XS2021472084 | 61% |
| 4 | BAT INTL FINANCE | 4% GTD SNR 04/09/26 | XS0969309847 | 54% |
| 5 | ZURICH FINANCE | FRN GTD SUB 23/11/52 | XS2523960719 | 52% |
| 6 | ORANGE | 3.25% SNR EMTN 15/01/32 | FR0013396538 | 50% |
| 7 | BG ENERGY CAPITAL | 5.125% GTD SNR 01/12/25 | XS0564485273 | 41% |
| 8 | PEPSICO INC | 3.55% SNR 22/07/34 | XS2503832078 | 39% |
| 9 | IMPERIAL BRANDS FI | 5.5% GTD SNR 28/09/26 | XS0683568223 | 39% |
| 10 | BAT INTL FINANCE | 6% GTD SNR 24/11/34 | XS0468426266 | 39% |
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:
October 2022
September 2022
August 2022
July 2022
June 2022
May 2022
April 2022
March 2022
February 2022
January 2022
December 2021
November 2021
October 2021
September 2021
August 2021
July 2021
June 2021
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
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