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 October 2023 (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 | 3.125% GTD SNR 10/10/28 EUR | DE000A351MT2 | 100% |
| 2 | KREDITANST FUR WIE | 2.5% GTD SNR 19/11/2025 EUR | DE000A30VUG3 | 73% |
| 3 | KREDITANST FUR WIE | 2.875% GTD 07/06/2033 EUR | DE000A30V9M4 | 71% |
| 4 | CSE D'AMORT DETTE | 3% NTS 25/11/2031 EUR100000 | FR001400IVT8 | 57% |
| 5 | CSE D'AMORT DETTE | 3% NTS 25/05/2028 EUR100000 | FR001400F5U5 | 57% |
| 6 | KREDITANST FUR WIE | 2.75% GTD 15/03/28 EUR1000 | DE000A30VUK5 | 48% |
| 7 | MORGAN STANLEY | 4.656%-FRN SNR 02/03/29 EUR | XS2595028536 | 40% |
| 8 | STICHTING AK RABOB | FRN T1 PERP EUR1 'REGS' | XS1002121454 | 38% |
| 9 | BNG BANK N.V. | 3.25% SNR EMTN 29/08/33 EUR | XS2673570995 | 35% |
| 10 | KREDITANST FUR WIE | 3.25% GTD SNR 24/03/31 EUR | XS2698047771 | 34% |
Source: ICE Data Services
GBP Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | KREDITANST FUR WIE | 4.875% GTD SNR 10/10/28 GBP | XS2679764493 | 100% |
| 2 | KREDITANST FUR WIE | 3.75% GTD SNR 30/07/27 GBP | XS2584128263 | 39% |
| 3 | NATIONWIDE B/S | FRN GTD SNR SEC 01/2024 GBP | XS1933035286 | 23% |
| 4 | GTCR W-2 MERGER SU | 8.5% SNR SEC 15/01/2031 GBP | XS2696111389 | 17% |
| 5 | LLOYDS BANKING GP | 2.25% SNR EMTN 16/10/24 GBP | XS1699636574 | 13% |
| 6 | KREDITANST FUR WIE | 0.75% GTD SNR 07/12/27 GBP | XS2345876333 | 12% |
| 7 | UBS GROUP AG | 2.125%-FRN SNR 12/09/25 GBP | CH0379268722 | 11% |
| 8 | KREDITANST FUR WIE | 4.125% GTD SNR 18/02/26 GBP | XS2573690489 | 11% |
| 9 | CPPIB Capital Inc | 6% SNR NTS 07/06/2025 GBP | XS2645243853 | 10% |
| 10 | HSBC HOLDINGS PLC | 6.8%-FRN 14/09/31 DUAL CURR | XS2685873908 | 9% |
Source: ICE Data Services
EUR Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | HESSEN LAND | 3.25% SNR 05/10/28 EUR1000 | DE000A1RQEN1 | 100% |
| 2 | FLEMISH COMMUNITY | 3.625% SNR 22/06/2032 EUR | BE0002965466 | 83% |
| 3 | STELLANTIS N.V | 4.25% SNR EMTN 16/06/31 EUR | XS2634690114 | 77% |
| 4 | PORSCHE AUTO HL SE | 4.25% SNR 27/09/30 EUR1000 | XS2643320109 | 74% |
| 5 | WORLDLINE | 4.125% SNR 12/09/2028 EUR | FR001400KLT5 | 68% |
| 6 | SARTORIUS FIN BV | 4.5% GTD SNR 14/09/2032 EUR | XS2676395317 | 61% |
| 7 | E.ON SE | 3.75% SNR 01/03/29 EUR1000 | XS2673536541 | 59% |
| 8 | FLEMISH COMMUNITY | 4% SNR EMTN 26/09/2042 EUR | BE0002966472 | 59% |
| 9 | SARTORIUS FIN BV | 4.875% GTD SNR 14/09/35 EUR | XS2676395408 | 56% |
| 10 | BAYER AKTIENGESEL | 7%-FRN SUB 25/09/2083 EUR | XS2684846806 | 55% |
Source: ICE Data Services
GBP Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | ONTARIO(PROV OF) | 0.25% SNR 15/12/2026 GBP | XS2283226798 | 100% |
| 2 | NORDRH-WESTFALEN | 0.625% SNR 16/12/2024 GBP | XS2394766278 | 98% |
| 3 | STONEGATE PUB CO | 8.25% GTD 31/07/2025 GBP | XS2210014788 | 77% |
| 4 | JOHN DEERE BANK SA | 5.125% GTD SNR 18/10/28 | XS2703627021 | 55% |
| 5 | THAMES WTR UTL FIN | 5.5% A/BKD 11/02/2041 GBP'A | XS0590171103 | 54% |
| 6 | ORSTED A/S | 5.375% GTD SNR 13/09/42 | XS2531570112 | 51% |
| 7 | BRITISH TELECOM | 8.375%-FRN GTD 20/12/83 | XS2636324274 | 51% |
| 8 | TALK TALK TELECOM | 3.875% GTD SNR 20/02/25 | XS2121167345 | 50% |
| 9 | DEUCE FINCO PLC | 5.5% GTD 15/06/2027 GBP | XS2351480996 | 49% |
| 10 | ROLLS ROYCE | 5.75% GTD SNR 15/10/27 GBP | XS2244321787 | 49% |
Source: ICE Data Services
Download
Historical data of the most actively traded corporate bonds on a monthly basis can be found below:
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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© International Capital Market Association (ICMA), Zurich, 2023. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission from ICMA.
