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 July 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 2.625% GTD SNR 26/04/29 EUR DE000A382475 100%
2 KREDITANST FUR WIE 2.875% GTD SNR 29/05/26 EUR DE000A351MM7 94%
3 KREDITANST FUR WIE 2.375% GTD SNR 05/08/27 EUR DE000A351Y94 78%
4 KREDITANST FUR WIE 2.75% GTD SNR 01/10/27 EUR DE000A383B10 77%
5 KREDITANST FUR WIE 3.125% GTD SNR 10/10/28 EUR DE000A351MT2 76%
6 KREDITANST FUR WIE 2.875% GTD SNR 31/03/32 EUR XS2816013937 50%
7 CITIGROUP INC 3.75%-FRN SNR 14/05/32 EUR XS2577826386 41%
8 CPPIB Capital Inc 3.125% NTS 11/06/2029 EUR XS2838538291 40%
9 KREDITANST FUR WIE 0.75% GTD SNR 15/01/29 EUR DE000A2LQSN2 38%
10 KREDITANST FUR WIE 0.125% GTD SNR 09/01/32 EUR DE000A3E5XN1 32%

Source: ICE Data Services

GBP Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 DEXIA SA 1.25% GTD SNR 21/07/25 GBP XS2434417494 100%
2 KREDITANST FUR WIE 4.875% GTD SNR 10/10/28 GBP XS2679764493 81%
3 WELLS FARGO & CO 2% SNR EMTN 28/07/2025 GBP XS1457522727 59%
4 L-BANK BW FOERDBK 4.75% GTD SNR 16/06/26 GBP XS2845726616 56%
5 BARCLAYS PLC 5.851%-FRN SNR 21/03/35 GBP XS2790094523 50%
6 MUNICIPALITY FIN 4.25% GTD SNR 09/01/29 GBP XS2852993901 48%
7 SCHRODERS PLC 6.346%-FRN LT2 18/07/34 GBP XS2795388383 47%
8 VIRGIN MEDIA VEND3 4.875% SNR SEC 15/07/28 GBP XS2187646901 43%
9 BANCO SANTANDER 5.5% SNR NPF 11/06/2029 GBP XS2837803928 42%
10 BARCLAYS PLC 3.25% SNR 17/01/2033 GBP XS1748699011 42%

Source: ICE Data Services

EUR Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 GRIFOLS SA 3.875% SNR 15/10/28 EUR1000 XS2393001891 100%
2 THAMES WTR UTL FIN 4.375% GTD 18/01/2031 EUR XS2576550672 78%
3 THAMES WTR UTL FIN 4% GTD SNR SEC 18/04/27 EUR XS2576550326 73%
4 Province of Alberta 3.125% SNR NTS 16/10/2034 XS2802866728 70%
5 THAMES WTR UTL FIN 0.875% GTD 31/01/2028 EUR XS2438026440 69%
6 THAMES WTR UTL FIN 1.25% GTD 31/01/2032 EUR XS2438026366 58%
7 WARNERMEDIA HOLDIN 4.693% GTD SNR 17/05/33 EUR XS2721621154 58%
8 GRIFOLS SA 2.25% GTD 15/11/2027 EUR XS2077646391 53%
9 AUTOSTRADE 5.125% SNR 14/06/2033 EUR XS2636745882 46%
10 DEUTSCHE LUFTHANSA 4% SNR 21/05/30 EUR1000'12' XS2815984732 46%

Source: ICE Data Services

GBP Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 Quebec (Province Of) 2.25% SNR NTS 15/09/2026 XS2476287979 100%
2 THAMES WTR UTL FIN 5.125% GTD 28/09/2037 GBP XS0268693743 81%
3 THAMES WTR UTL FIN 2.375% GTD 22/04/2040 GBP XS2161831776 70%
4 THAMES WTR UTL FIN 5.5% A/BKD 11/02/2041 GBP'A XS0590171103 59%
5 THAMES WTR UTL FIN 8.25% GTD 25/04/2040 GBP XS2707822644 58%
6 THAMES WATER UTILI 4.375% A/BKD 03/07/34 GBP'A XS0800185174 56%
7 THAMES WTR UTL FIN 7.75% GTD 30/04/44 GBP1000 XS2755443376 56%
8 THAMES WATER UTILI 4.625% A/BKD 04/06/46 GBP'A XS0800186222 53%
9 THAMES WATER UTILI 7.738% A/BKD 09/04/2058 GBP XS1537083716 49%
10 ROTHESAY LIFE PLC 7.019% LT2 10/12/2034 GBP XS2805328601 46%

Source: ICE Data Services

Download


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

August 2024
June 2024
April 2024
March 2024 
February 2024 
January 2024 
December 2023
November 2023
October 2023
September 2023
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).

 

 



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.

ICMA Zurich
T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich

ICMA London
T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris
T: +33 1 8375 6613
25 rue du Quatre Septembre
75002 Paris

ICMA Brussels
T: +32 2 801 13 88
Avenue des Arts 56
1000 Brussels
ICMA Hong Kong
T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong
info@icmagroup.org (general enquiries)
education@icmagroup.org (education enquiries)
sustainabilitybonds@icmagroup.org (sustainable finance)
Copyright © 2024 International Capital Market Association.