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 April 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 ARD FINANCE 5% PIK 30/06/27 XS2079032483 100%
2 CSE D'AMORT DETTE 1.5% BDS 25/05/32 FR001400A3H2 40%
3 KREDITANST FUR WIE 1.125% GTD SNR 31/03/37 DE000A3MP7K3 37%
4 KREDITANST FUR WIE 1.375% SNR 07/06/32 XS2475954900 33%
5 KREDITANST FUR WIE 0% GTD SNR 10/01/31 DE000A3H2ZF6 21%
6 KREDITANST FUR WIE 0.375% SNR 23/04/30 DE000A11QTF7 17%
7 KREDITANST FUR WIE 0% GTD SNR 30/04/27 DE000A3MP7H9 17%
8 KREDITANST FUR WIE 0% SNR 15/09/31 XS2388457264 16%
9 DEUTSCHE BK AG LDN 0.2%-0% BDS 15/01/26 DE000DL8Y3Q9 13%
10 KREDITANST FUR WIE 0.125% GTD SNR 09/01/32 DE000A3E5XN1 11%

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 KREDITANST FUR WIE 0.875% SNR 18/07/24 XS2100726244 16%
3 BNG BANK N.V. 1.625% SNR 26/08/25 XS1811047080 10%
4 FMS WERTMANAGEMENT 0.625% GTD SNR 15/12/23 XS2399566962 6%
5 Bank of Nova Scotia FRN SNR SEC CVD BDS 14/03/25 XS2386592054 5%
6 NEMEAN BONDCO PLC 7.375% GTD 01/02/24 XS1554448271 5%
7 CMF 2020-1 PLC FRN M/BKD 01/57 XS2096745216 4%
8 Bank of Nova Scotia FRN SNR SEC CVD BDS 26/01/26 XS2435611590 4%
9 MORTGAGE FDG 08-1 FRN M/BKD 03/46 XS0350039912 3%
10 DNB BANK ASA 2.625%-FRN SNR 10/06/26 XS2465774474 3%

Source: ICE Data Services

EUR Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 BERLIN LAND 0.625% SNR 20/03/26 DE000A168015 100%
2 HIGHLAND HLDGS SAR 0% GTD SNR 12/11/23 XS2406913884 28
3 AT&T INC 1.6% SNR 19/05/28 XS2180007549 27%
4 HAMBURG FREIE HANS 1.45% GTD SNR 05/11/38 DE000A168502 26%
5 DELIVERY HERO SE 0.25% CNV SNR 23/01/24 DE000A254Y84 25%
6 ADLER GROUP S.A 1.875% SNR 14/01/26 XS2283224231 24%
7 AZORES(AUTONOMOUS) 3% GTD 06/11/30 PTSAOBOM0009 24%
8 KERING 1.875% SNR 05/05/30 FR001400A5M7 23%
9 GOBIERNO VASCO 0.45% SNR 30/04/32 ES0000106726 23%
10 THURINGEN LAND 1.34% SNR 13/03/37 DE000A2E4ZL4 22%

Source: ICE Data Services

GBP Non-Financials

Rank Issuer Coupon and Maturity ISIN Relative volume
1 ANHEUSER-BUSCH INB 2.85% GTD SNR 25/05/37 BE6295395956 100%
2 MUENCHENER RUECKVE 6.625%-FRN LT2 26/05/42 XS0764278288 98%
3 ENEL FIN INT NV 2.875% GTD SNR 11/04/29 XS2466363202 77%
4 LVMH MOET HENNESSY 1% SNR EMTN 11/02/23 FR0013482858 73%
5 TRANSPORT FOR LOND 5% SNR MTN 31/03/35 XS0207920942 71%
6 ANNINGTON FUNDING 2.308% GTD SNR 06/10/32 XS2393618389 71%
7 ONTARIO(PROV OF) 0.25% SNR 15/12/26 XS2283226798 58%
8 DIAGEO FINANCE PLC 2.75% GTD SNR 08/06/38 XS2466406530 57%
9 CIDRON AIDA FINCO 6.25% GTD 01/04/28 XS2325700164 55%
10 HEXAGON HOUSING AS 3.625% SNR SEC 22/04/48 XS2455788732 49%

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:

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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