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FINRA-ICE Data Services Structured Trading Activity Reports

Structured Trading Activity Report TBA Pass-Thru Agency CMO Non-Agency CMO/ABS Daily CMBS Weekly CMBS CBO/CDO/CLO
Pricing Table: Agency CMBS by Deal Vintage
METRIC AGENCY CMBS (P&I) AGENCY CMBS (IO/PO) AGENCY CMBS (P&I) AGENCY CMBS (IO/PO)
PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026
AVERAGE PRICE 94.5 2.2 92.7 91.1 98.5 1.9 * *
Weighted Avg. Price 96.2 4.1 96.3 90.9 99.0 3.7 * *
Avg. Price Bottom 5 Trades 76.6 0.5 81.2 77.0 90.7 0.5 * *
2nd Quartile Price 91.3 0.9 89.8 88.0 99.2 0.9 * *
3rd Quartile Price 97.3 2.0 94.8 94.7 99.5 1.8 * *
4th Quartile Price 99.5 3.3 98.3 99.6 100.3 3.3 * *
Avg. Price Top 5 Trades 101.6 4.2 99.6 100.4 101.6 3.5 * *
Standard Deviation 6.6 1.8 6.4 8.7 3.3 1.6 * *
VOLUME OF TRADES (000'S) 455,033.9 489,602.4 170,046.0 99,364.3 185,623.6 270,162.8 * *
Customer Buy 247,440.2 280,746.1 112,978.6 60,505.3 73,956.3 130,746.1 - *
Customer Sell 93,301.1 * 33,287.2 6,389.0 53,625.0 * * -
Dealer to Dealer 114,292.6 - 23,780.3 * 58,042.3 - - -
<= $1MM 12,424.1 2,260.8 4,632.7 5,931.7 1,859.7 2,260.8 - -
<= $10MM 130,142.9 * 67,974.4 28,704.5 33,463.9 * - -
> $10MM 312,466.9 478,608.2 * * * * * *
NUMBER OF TRADES 154 15 76 23 55 13 * *
Customer Buy 51 13 27 11 13 12 - *
Customer Sell 50 * 24 8 18 * * -
Dealer to Dealer 53 - 25 * 24 - - -
<= $1MM 108 9 53 13 42 9 - -
<= $10MM 36 * 19 7 10 * - -
> $10MM 10 5 * * * * * *

Pricing Table: CMBS Conduit by Deal Vintage
METRIC NON-AGENCY CMBS (P&I) NON-AGENCY CMBS (IO/PO) CONDUIT AAA LCF (P&I) CONDUIT AAA (P&I) CONDUIT AAA (IO/PO) CONDUIT IG (P&I) CONDUIT IG (IO/PO) CONDUIT HY (P&I) CONDUIT HY (IO/PO)
PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026
AVERAGE PRICE 96.3 * 97.7 * * 97.8 * 102.1 * * - 87.5 * 99.4 - - - 74.5 - 97.9 - - -
Weighted Avg. Price 96.8 * 97.0 * * 97.9 * 102.3 * * - 86.1 * 100.4 - - - 77.7 - 100.6 - - -
Avg. Price Bottom 5 Trades 37.2 * 94.0 * * 91.0 * 101.0 * * - 83.8 * 99.4 - - - 60.5 - 93.1 - - -
2nd Quartile Price 97.4 * 98.3 * * 98.1 * 101.6 * * - 86.1 * * - - - 80.1 - 99.2 - - -
3rd Quartile Price 99.4 * 98.9 * * 99.0 * 102.7 * * - 89.0 * * - - - 81.8 - 102.8 - - -
4th Quartile Price 100.1 * 99.3 * * 99.6 * 102.9 * * - 94.8 * * - - - 92.3 - 102.9 - - -
Avg. Price Top 5 Trades 104.5 * 99.5 * * 99.7 * 102.9 * * - 90.9 * 99.4 - - - 88.5 - 102.3 - - -
Standard Deviation 10.1 * 2.4 * * 3.3 * 1.1 * * - 5.6 * 2.4 - - - 19.7 - 7.8 - - -
VOLUME OF TRADES (000'S) 1,382,656.7 * 80,765.7 * * 118,089.7 * 86,604.5 * * - 14,090.0 * 3,553.0 - - - 44,844.9 - 54,000.0 - - -
Customer Buy 631,500.5 - 40,709.3 - - 44,731.7 * 44,319.5 - - - * * * - - - 21,214.6 - 27,000.0 - - -
Customer Sell 720,732.7 * 40,056.4 * * 72,137.9 - * * * - 7,628.0 * * - - - 23,630.3 - 27,000.0 - - -
Dealer to Dealer 30,423.4 - - - - * - - - - - - - - - - - - - - - - -
<= $1MM 41,757.6 - 3,195.1 * * 4,814.4 * * - - - * * * - - - * - - - - -
<= $10MM 748,418.5 * 46,644.6 * * 55,405.8 - * * - - 13,938.0 * * - - - 44,816.9 - 54,000.0 - - -
> $10MM 592,480.6 * * - - * - * - * - - - - - - - - - - - - -
NUMBER OF TRADES 320 * 20 * * 36 * 12 * * - 9 * 5 - - - 10 - 10 - - -
Customer Buy 145 - 5 - - 5 * 8 - - - * * * - - - 5 - 5 - - -
Customer Sell 169 * 15 * * 30 - * * * - 5 * * - - - 5 - 5 - - -
Dealer to Dealer 6 - - - - * - - - - - - - - - - - - - - - - -
<= $1MM 108 - 6 * * 18 * * - - - * * * - - - * - - - - -
<= $10MM 182 * 12 * * 16 - * * - - 7 * * - - - 9 - 10 - - -
> $10MM 30 * * - - * - * - * - - - - - - - - - - - - -

Pricing Table: CMBS Other by Deal Vintage
METRIC OTHER CMBS AAA LCF (P&I) OTHER CMBS AAA (P&I) OTHER CMBS AAA (IO/PO) OTHER CMBS IG (P&I) OTHER CMBS IG (IO/PO) OTHER CMBS HY (P&I) OTHER CMBS HY (IO/PO)
PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026 PRE-2021 2021-2023 2024-2026
AVERAGE PRICE - - - 97.7 95.9 100.0 - - - 95.5 97.9 99.6 - - - 86.9 83.1 98.5 - - -
Weighted Avg. Price - - - 98.7 95.1 100.0 - - - 96.8 99.8 99.6 - - - 77.8 77.7 97.8 - - -
Avg. Price Bottom 5 Trades - - - 97.7 93.8 97.7 - - - 92.0 93.9 97.5 - - - 72.8 47.6 90.4 - - -
2nd Quartile Price - - - * 95.0 99.9 - - - 95.0 98.5 99.0 - - - 88.0 93.1 99.3 - - -
3rd Quartile Price - - - * 99.0 100.1 - - - 96.4 100.0 99.6 - - - 95.1 98.1 100.0 - - -
4th Quartile Price - - - * 99.2 100.2 - - - 98.5 100.3 100.3 - - - 98.0 99.2 100.2 - - -
Avg. Price Top 5 Trades - - - 97.7 99.2 101.8 - - - 98.4 100.2 102.3 - - - 96.8 99.3 101.1 - - -
Standard Deviation - - - 2.8 5.0 1.0 - - - 3.3 4.6 1.3 - - - 12.8 27.3 4.7 - - -
VOLUME OF TRADES (000'S) - - - 26,915.9 8,438.6 475,993.3 - - - 47,919.8 77,096.0 119,151.4 - - - 23,188.1 81,363.1 108,318.8 - - -
Customer Buy - - - * * 206,502.0 - - - 28,600.0 * 46,357.5 - - - 13,159.7 40,711.6 67,464.4 - - -
Customer Sell - - - * 3,389.7 268,036.4 - - - 19,319.8 24,928.7 72,794.0 - - - 10,028.4 40,651.6 40,854.4 - - -
Dealer to Dealer - - - - - * - - - - * - - - - - - - - - -
<= $1MM - - - - 3,260.7 7,414.5 - - - * * 7,122.3 - - - 1,976.1 3,132.0 2,625.0 - - -
<= $10MM - - - 26,915.9 * 140,852.8 - - - 35,312.2 23,497.4 74,244.2 - - - 21,212.0 78,231.1 105,693.8 - - -
> $10MM - - - - - 327,726.0 - - - * * * - - - - - - - - -
NUMBER OF TRADES - - - 5 8 65 - - - 14 14 43 - - - 13 17 28 - - -
Customer Buy - - - * * 36 - - - 5 * 24 - - - 7 8 19 - - -
Customer Sell - - - * 5 28 - - - 9 6 19 - - - 6 9 9 - - -
Dealer to Dealer - - - - - * - - - - * - - - - - - - - - -
<= $1MM - - - - 5 17 - - - * * 21 - - - 6 5 7 - - -
<= $10MM - - - 5 * 33 - - - 9 6 20 - - - 7 12 21 - - -
> $10MM - - - - - 15 - - - * * * - - - - - - - - -

* Indicates trade count is less than 5
† Includes Unrated Securities
Data updated with current day's trades at approximately 8PM New York time
Effective June 1st, 2015 ABS List or Fixed Offering Price and Takedown Transactions (as defined in FINRA Rule 6710), as well as CMO transactions in securities newly added to the system on the report day will be excluded from inclusion in the FINRA-ICE Data daily Securitized Product Report and Pricing Tables. Previously created reports will not be adjusted for the change.

Effective January 10th, 2026 the “Structured Trading Activity Report”, “CBO/CDO/CLO” row and the “CBO/CDO/CLO” Pricing Table was revised for the As Of Dates of December 1, 2025 through December 12, 2025. This was due to an issue where trades were not being classified into the CBO/CDO/CLO NON-AAA IG bucket when those reports were first published.

Should you have any questions, please call TRACE Data Services at 888-507-3665 or email [email protected].
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