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 December 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 15/09/2031 XS2388457264 100%
2 KREDITANST FUR WIE 0.375% SNR 23/04/30 DE000A11QTF7 94%
3 KREDITANST FUR WIE 0% GTD SNR 15/11/24 DE000A3E5XK7 77%
4 KREDITANST FUR WIE 0.125% GTD SNR 04/10/24 DE000A2DAJ57 54%
5 KREDITANST FUR WIE 1.125% SNR 15/09/32 DE000A2GSE59 52%
6 KREDITANST FUR WIE 0% GTD SNR 15/06/26 DE000A3H3E76 44%
7 MORGAN STANLEY 1.75% SNR MTN 11/03/24 XS1379171140 42%
8 BPCE SFH 0.01%-FRN 18/03/31 FR0014002FB7 41%
9 BNG BANK N.V. 0.75% SNR EMTN 24/01/29 XS1940071597 39%
10 KREDITANST FUR WIE 0% GTD SNR 30/09/26 DE000A2TSTU4 37%

Source: ICE Data Services

GBP Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 DRIVER UK MAST 2 FRN 05/25 XS1434683998 100%
2 STHN PACIFIC FIN5A IDX/LKD M/BKD 15/09/52 XS0219481958 55%
3 KREDITANST FUR WIE 0.875% SNR 18/07/24 XS2100726244 40%
4 KREDITANST FUR WIE 1% GTD SNR 15/12/22 XS1752440773 25%
5 NRW BANK 0.375% GTD SNR 16/12/24 XS2193877177 19%
6 KREDITANST FUR WIE 1.375% GTD SNR 15/12/25 XS1950905486 19%
7 KREDITANST FUR WIE FRN GTD SNR 06/24 XS2351140202 14%
8 SOUTHERN PAC FIN FRN M/BKD 09/40 XS0206743931 13%
9 KOMMUNALBANKEN AS 1% SNR 12/12/2024 XS2100849756 12%
10 NED WATERSCHAPSBK 0.875% SNR 30/09/26 XS2397683694 12%

Source: ICE Data Services

EUR Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 EDF 1% SNR EMTN 29/11/33 FR0014006UO0 100%
2 VOLKSWAGEN INTL 0.05% GTD SNR 10/06/24 XS2270150399 53%
3 SNCF MOBILITES 0.625% SNR 17/04/30 FR0013507647 53%
4 DEUTSCHE LUFTHANSA 2.875% SNR 16/05/27 XS2408458730 53%
5 HOWOGE WOHNUNGSB 0% SNR 01/11/2024 DE000A3H3GE7 49%
6 REGION WALLONNE 0.25% SNR EMTN 03/05/26 BE6313645127 48%
7 VONOVIA SE 0.75% SNR 01/09/32 DE000A3MP4V7 48%
8 FIDELITY NATL INF 0.75% SNR 21/05/23 XS1843436574 47%
9 LORCA TELECOM BOND 4% GTD SNR SEC 18/09/27 XS2240463674 44%
10 SCHLESWIG-HOLSTEIN 0.01% SNR 29/10/26 DE000SHFM824 44%

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 SNCF MOBILITES 0.875% SNR 28/12/26 FR0014003OF8 42%
3 EDF 6% SNR EMTN 23/01/14 FR0011710284 37%
4 STONEGATE PUB CO 8.25% GTD 31/07/25 XS2210014788 36%
5 PLATFORM HG FIN PL 1.625% SNR SEC 10/08/55 XS2210002189 33%
6 ONTARIO(PROV OF) 0.25% SNR 15/12/26 XS2283226798 30%
7 LIVEWEST TREASURY 1.875% GTD 18/02/56 XS2297540093 24%
8 LA FINANCIERE ATAL 6.625% GTD SNR 15/05/25 XS1820760079 21%
9 WILLIAM HILL 4.75% GTD SNR 01/05/26 XS1989833816 20%
10 DAILY MAIL&GEN TST 6.375% SNR 21/06/27 XS0306155499 20%

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:

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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