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.

ICE Data Market volume financials July 2022     ICE Data Market volume non financials July 2022
Source: ICE Data Services

Top-traded corporate bonds in July 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 0.125% GTD SNR 09/01/32 DE000A3E5XN1 100%
2 KREDITANST FUR WIE 1.375% SNR 07/06/32 XS2475954900 79%
3 KREDITANST FUR WIE 0.125% GTD SNR 30/06/25 DE000A3MP7J5 75%
4 KREDITANST FUR WIE 2% GTD SNR 15/11/29 XS2498154207 49%
5 KREDITANST FUR WIE 0% SNR 15/09/31 XS2388457264 29%
6 KREDITANST FUR WIE 0% GTD SNR 10/01/31 DE000A3H2ZF6 23%
7 BPIFRANCE FINANCEM 3.125% GTD SNR 26/09/23 FR0011119783 21%
8 BNG BANK N.V. 0% SNR 20/01/31 XS2289404704 20%
9 CSE D'AMORT DETTE 1.375% SNR 25/11/24 FR0012159812 16%
10 KREDITANST FUR WIE 0% GTD SNR 30/04/27 DE000A3MP7H9 15%

Source: ICE Data Services

GBP Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 KREDITANST FUR WIE 0.875% SNR 18/07/2 XS2100726244 100%
2 SILVERSTONE MASTER FRN SNR SEC 01/70 XS1770381215 84%
3 Bank of Nova Scotia FRN UNSUB CVD BDS 10/01/23 XS1747445481 75%
4 SILVERSTONE MASTER FRN M/BKD 01/70 XS1966746759 74%
5 Royal Bank of Canada FRN UNSUB CVD BDS 30/01/25 XS2111228974 71%
6 Royal Bank of Canada FRN GTD SNR 01/23 XS1746306585 62%
7 SILVERSTONE MASTER FRN M/BKD 01/70 XS2109587977 52%
8 KOMMUNALBANKEN AS 0.25% EMTN 15/12/25 XS2305738598 51%
9 RMAC SECS NO 1 PLC FRN M/BKD 06/44 XS0277409446 48%
10 VIRGIN MEDIA VEND3 4.875% SNR SEC 15/07/28 XS2187646901 47%

Source: ICE Data Services

EUR Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 UNEDIC 2.375% GTD SNR 25/05/24 FR0011755156 100%
2 DELIVERY HERO SE 1% CNV SNR 23/01/27 DE000A254Y92 62%
3 LORCA TELECOM BOND 4% GTD SNR SEC 18/09/27 XS2240463674 56%
4 NIEDERSACHSEN 1.5% SNR 17/10/29 DE000A30VHW7 55%
5 TEVA PHARM FINANCE 4.375% 09/05/30 XS2406607171 46%
6 INTL CONS AIRLINE 3.75% SNR 25/03/29 XS2322423539 43%
7 CASTLE UK FINCO PL FRN GTD SNR SEC 05/28 XS2447921466 42%
8 EDF 2% SNR EMTN 09/12/49 FR0013465424 41%
9 SOCIETE DU GRAND P 1.125% SNR 22/10/28 FR0013372299 40%
10 NETFLIX INC 3.625% SNR 15/05/27 XS1821883102 40%

Source: ICE Data Services

GBP Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 STONEGATE PUB CO 8.25% GTD 31/07/25 XS2210014788 100%
2 OPTIVO FINANCE PLC 5.25% SNR 13/03/43 XS0755862058 76%
3 NETWORK RAIL INFRA IDX/LKD SNR 22/11/47 XS0322049296 71%
4 NESTLE HLDGS INC 0.625% GTD SNR 18/12/25 XS2354271095 51%
5 EDF 5.125% SNR 22/09/50 FR0010945436 49%
6 NETWORK RAIL INFRA 4.75% SNR SEC 29/11/35 XS0206361221 46%
7 BAT INTL FINANCE 4% GTD SNR 04/09/26 XS0969309847 43%
8 CTRL SECTION 1 FIN IDX/LKD A/BKD 02/11/51 XS0179947352 41%
9 BRITISH TELECOM 6.375% SNR 23/06/37 XS0306772699 40%
10 BRITISH TELECOM 6.75% GTD 15/07/26 XS2364423652 40%

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:

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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