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 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 KREDITANST FUR WIE 0% SNR 15/09/31 XS2388457264 100%
2 KREDITANST FUR WIE 0% GTD SNR 10/01/31 DE000A3H2ZF6 83%
3 BPCE SFH 0.01% SNR SEC 10/11/27 FR0013533403 55%
4 CSE D'AMORT DETTE 0.125% SNR 15/09/31 FR0014005FC8 54%
5 KREDITANST FUR WIE 0.125% GTD SNR 04/10/24 DE000A2DAJ57 41%
6 KREDITANST FUR WIE 0% GTD SNR 17/09/30 DE000A289RK2 37%
7 MORGAN STANLEY 1.102%-FRN SNR 29/04/33 XS2404028230 37%
8 CSE D'AMORT DETTE 0.125% SNR 25/10/23 FR0013344181 34%
9 CSE D'AMORT DETTE 0% SNR 25/02/26 FR0014000UG9 33%
10 CSE D'AMORT DETTE 0% SNR 25/05/31 FR0014001S17 33%

Source: ICE Data Services

GBP Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 WILLOW NO 2 IE PLC IDX/LKD-0% 21/07/28 XS1535004011 100%
2 DRIVER UK MAST 2 FRN 05/25 XS1434683998 88%
3 FMS WERTMANAGEMENT 0.625% GTD SNR 15/12/23 XS2399566962 35%
4 KREDITANST FUR WIE 1.25% SNR 29/12/23 XS1850250710 32%
5 KREDITANST FUR WIE 0.875% SNR 18/07/24 XS2100726244 21%
6 JERROLD FINCO PLC 4.875% GTD 15/01/26 XS2112899021 21%
7 WILLOW NO 2 IE PLC IDX/LKD-0% 21/07/28 XS1535005331 18%
8 NRW BANK 1% EMTN 15/12/25 XS2362526126 16%
9 EXPORT DEV CANADA 1.375% SNR 08/12/23 XS1795387338 15%
10 BOPARAN FIN PLC 7.625% GTD 30/11/25 XS2262082758 14%

Source: ICE Data Services

EUR Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 ACCOR SA 1.25%-IDX/LKD 25/01/24 FR0013233384 100%
2 TELECOM ITALIA SPA 1.625% SNR 18/01/29 XS2288109676 100%
3 ACCOR SA 2.375% SNR 17/09/23 FR0012949949 85%
4 MADRID(COMUNIDAD) 0.16% SNR 30/07/28 ES00001010G6 67%
5 ADLER GROUP S.A 2.25% SNR 14/01/29 XS2283225477 53%
6 SNCF MOBILITES 0.625% SNR 17/04/30 FR0013507647 50%
7 SOCIETE DU GRAND P 1.7% SNR EMTN 25/05/50 FR0013422383 49%
8 GLENCORE FIN EUR L 1.75% GTD SNR 17/03/25 XS1202849086 49%
9 TEVA PHARM FINANCE 4.375% 09/05/30 XS2406607171 48%
10 SCHLESWIG-HOLSTEIN 0.01% SNR 29/10/26 DE000SHFM824 47%

Source: ICE Data Services

GBP Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 NORDRH-WESTFALEN 0.625% SNR 16/12/24 XS2394766278 100%
2 HASTINGS GROUP FIN 3% GTD SNR 24/05/25 XS1815424202 66%
3 STONEGATE PUB CO 8.25% GTD 31/07/25 XS2210014788 51%
4 ANGLIAN WATER (OSP 5% GTD SNR SEC 30/04/23 XS1223283091 51%
5 PINNACLE BIDCO PLC 6.375% GTD 15/02/25 XS1756633126 48%
6 BRITISH TELECOM 3.125% SNR 21/11/31 XS1720922415 47%
7 BRITISH TELECOM 6.375% SNR 23/06/37 XS0306772699 46%
8 Ontario (Province Of) 0.5% SNR NTS 15/12/23 XS2182119508 43%
9 BHP BILLITON FIN. 6.5%-FRN GTD 22/10/77 XS1309437215 42%
10 BLACKSTONE PP EUR 2.65% GTD SNR 20/10/28 XS2398746227 36%

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 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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