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 January 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 | LANDWIRT RENTENBK | 0% GTD SNR 22/09/27 | XS2233120554 | 100% |
| 2 | KREDITANST FUR WIE | 0% GTD SNR 10/01/31 | DE000A3H2ZF6 | 73% |
| 3 | KREDITANST FUR WIE | 0% SNR EMTN 15/09/28 | XS2209794408 | 70% |
| 4 | KREDITANST FUR WIE | 0.01% SNR 31/03/25 | DE000A254PS3 | 44% |
| 5 | LANDWIRT RENTENBK | 0% GTD SNR 27/11/29 | XS2084429963 | 39% |
| 6 | KREDITANST FUR WIE | 0.625% GTD SNR 04/07/22 | DE000A11QTG5 | 38% |
| 7 | CIE FIN FONCIE-CFF | 0.05% SNR SEC 16/04/24 | FR0013507365 | 36% |
| 8 | KREDITANST FUR WIE | 0% GTD SNR 30/06/23 | DE000A289RC9 | 34% |
| 9 | BK OF AMERICA CORP | FR SNR EMTN 02/22 | XS1560862580 | 27% |
| 10 | KREDITANST FUR WIE | 0.625% GTD SNR 07/01/28 | DE000A2GSNR0 | 26% |
GBP Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | NED WATERSCHAPSBK | 0.25% SNR 15/12/25 | XS2204965540 | 100% |
| 2 | ELVET MORTGAGES | FRN M/BKD 03/65 | XS2176220429 | 62% |
| 3 | AA BOND CO LTD | 5.5%-VAR 31/07/43 | XS1211308231 | 54% |
| 4 | METRO LIFE GBL FD1 | 0.625% SNR 08/12/27 | XS2281152822 | 40% |
| 5 | CSE D'AMORT DETTE | 0.125% SNR 15/12/25 | FR0014001OH8 | 37% |
| 6 | LLOYDS BANKING GP | 2.707%-FRN SUB 03/12/35 | XS2265524640 | 34% |
| 7 | HSBC HOLDINGS PLC | 6% SUB 29/03/40 | XS0498768315 | 28% |
| 8 | STHN PAC FNCG 5-B | FRN M/BKD 06/43 | XS0221839318 | 24% |
| 9 | LLOYDS BANKING GP | 1.875%-FRN SNR 15/01/26 | XS2100771547 | 24% |
| 10 | GREAT PLACES HOUSI | 4.75% SNR SEC 22/10/42 | XS0842152281 | 22% |
EUR Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | STELLANTIS N V | 4.5% SNR EMTN 07/07/28 | XS2199351375 | 100% |
| 2 | STELLANTIS N V | 3.875% SNR 05/01/26 | XS2178833773 | 82% |
| 3 | STELLANTIS N V | 3.375% SNR 07/07/23 | XS2178832379 | 55% |
| 4 | FORNO DASOLO SP | FRN GTD SNR SEC 04/27 | XS2279939875 | 55% |
| 5 | SOCIETE DU GRAND P | 0% SNR EMTN 25/11/30 | FR00140005B8 | 51% |
| 6 | SNCF MOBILITES | 0.625% SNR 17/04/30 | FR0013507647 | 46% |
| 7 | BAYER AG | 0.625% SNR 12/07/31 | XS2281343413 | 46% |
| 8 | SCHLUMBERGER FIN.B | 2% GTD SNR 06/05/32 | XS2166755509 | 42% |
| 9 | FIAT CHRY FIN EUR | 4.75% GTD SNR 15/07/22 | XS1088515207 | 38% |
| 10 | UNEDIC | 0.25% GTD SNR 25/11/29 | FR0013518487 | 35% |
GBP Non-Financials
| Rank | Issuer | Coupon and Maturity | ISIN | Relative volume |
| 1 | Ontario (Province Of) | 0.5% SNR PIDI NTS 15/12/23 | XS2182119508 | 100% |
| 2 | REASSURE GROUP PLC | 5.867% LT2 13/06/29 | XS2012046665 | 52% |
| 3 | TALK TALK TELECOM | 3.875% GTD SNR 20/02/25 | XS2121167345 | 51% |
| 4 | IWG GROUP HOLDINGS | 0.5% CNV GTD 09/12/27 | XS2270378149 | 35% |
| 5 | PHOENIX GP HDGS PL | 4.125% T3 EMTN 20/07/22 | XS1551285007 | 30% |
| 6 | ONTARIO(PROV OF) | 0.25% SNR 15/12/26 | XS2283226798 | 28% |
| 7 | AVIVA | 4%-FRN LT2 03/06/55 | XS2181348405 | 28% |
| 8 | WHITBREAD | 3.375% GTD SNR 16/10/25 | XS1235295539 | 27% |
| 9 | ECONOMIC MASTER | FRN M/BKD 06/72 | XS2206912920 | 27% |
| 10 | SHELL INTL.FIN.BV | 1.75% GTD SNR 10/09/52 | XS2228387465 | 26% |
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Historical data of the most actively traded corporate bonds on a monthly basis can be found below:
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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© International Capital Market Association (ICMA), Zurich, 2020. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission from ICMA.