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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

Weekly CMBS data from 12/30/2024 to 01/03/2025

Pricing Table: Agency CMBS by Deal Vintage
METRIC AGENCY CMBS (P&I) AGENCY CMBS (IO/PO)
PRE-2020 2020 2021 2022 2023 2024 2025 PRE-2020 2020 2021 2022 2023 2024 2025
AVERAGE PRICE 94.5 85.7 84.1 83.2 93.8 98.2 - - 6.0 * - * * -
Weighted Avg. Price 93.8 92.0 85.7 87.0 94.2 98.3 - - 6.2 * - * * -
Avg. Price Bottom 5 Trades 87.6 75.2 75.6 49.8 92.5 94.9 - - 3.1 * - * * -
2nd Quartile Price 93.3 81.0 75.7 83.0 96.4 97.0 - - 4.4 * - * * -
3rd Quartile Price 96.3 89.7 84.9 90.7 97.8 98.5 - - 6.4 * - * * -
4th Quartile Price 97.8 90.2 95.1 93.0 99.8 99.2 - - 6.9 * - * * -
Avg. Price Top 5 Trades 98.6 96.0 94.2 98.3 97.2 101.7 - - 8.9 * - * * -
Standard Deviation 3.9 8.2 10.1 16.3 8.7 2.3 - - 2.7 * - * * -
VOLUME OF TRADES (000'S) 49,466.6 42,193.8 24,113.2 258,106.0 51,214.7 280,546.1 - - 669,079.7 * - * * -
Customer Buy 19,983.1 26,330.1 22,646.6 113,762.6 42,726.9 141,730.6 - - 8,380.7 - - * * -
Customer Sell 3,498.4 5,542.3 - 19,312.3 * 103,710.6 - - 660,699.0 * - * * -
Dealer to Dealer 25,985.0 10,321.4 * 125,031.1 - 35,105.0 - - - - - - - -
<= $1MM 6,164.8 1,275.1 2,101.9 2,924.1 * 732.0 - - * * - - - -
<= $10MM 43,301.7 18,394.8 22,011.3 67,616.9 * 52,375.0 - - 16,902.1 - - - * -
> $10MM - * - * * 227,439.1 - - 650,790.5 * - * * -
NUMBER OF TRADES 37 22 12 31 6 37 - - 16 * - * * -
Customer Buy 14 6 11 19 5 16 - - 5 - - * * -
Customer Sell 10 8 - 6 * 12 - - 11 * - * * -
Dealer to Dealer 13 8 * 6 - 9 - - - - - - - -
<= $1MM 25 16 6 9 * 18 - - * * - - - -
<= $10MM 12 5 6 18 * 9 - - 7 - - - * -
> $10MM - * - * * 10 - - 7 * - * * -

Pricing Table: CMBS Conduit AAA LCF (P&I) by Deal Vintage
METRIC CONDUIT AAA LCF (P&I)
PRE-2020 2020 2021 2022 2023 2024 2025
AVERAGE PRICE 96.1 87.2 84.8 94.1 102.3 100.8 -
Weighted Avg. Price 96.2 87.4 84.7 95.4 104.3 101.2 -
Avg. Price Bottom 5 Trades 93.3 85.6 84.5 89.7 102.3 98.6 -
2nd Quartile Price 95.4 87.2 84.5 89.5 * 98.7 -
3rd Quartile Price 96.2 88.2 84.8 95.5 * 103.0 -
4th Quartile Price 97.6 89.2 86.5 103.8 * 103.6 -
Avg. Price Top 5 Trades 98.1 88.8 85.0 98.5 102.3 103.1 -
Standard Deviation 1.9 2.4 0.8 6.3 3.2 2.5 -
VOLUME OF TRADES (000'S) 53,293.0 50,814.0 6,155.0 22,121.7 16,100.0 20,372.1 -
Customer Buy 38,155.0 22,409.0 6,155.0 16,621.7 * 18,334.1 -
Customer Sell 11,568.0 * - * - * -
Dealer to Dealer * * - - * - -
<= $1MM 5,962.0 * * * * * -
<= $10MM 32,831.0 22,844.0 * 21,099.7 * 19,242.1 -
> $10MM * * - - - - -
NUMBER OF TRADES 24 10 6 9 5 10 -
Customer Buy 14 6 6 7 * 9 -
Customer Sell 6 * - * - * -
Dealer to Dealer * * - - * - -
<= $1MM 14 * * * * * -
<= $10MM 9 5 * 7 * 6 -
> $10MM * * - - - - -

Pricing Table: CMBS Conduit by Deal Vintage
METRIC 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-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025
AVERAGE PRICE 97.7 86.3 102.8 - - - 92.1 * * - - - 86.6 - * - - -
Weighted Avg. Price 97.6 82.9 102.6 - - - 92.3 * * - - - 82.5 - * - - -
Avg. Price Bottom 5 Trades 96.0 82.8 100.7 - - - 91.5 * * - - - 80.7 - * - - -
2nd Quartile Price 97.1 85.1 101.6 - - - 91.6 * * - - - 87.0 - * - - -
3rd Quartile Price 98.3 85.7 102.7 - - - 91.9 * * - - - 90.6 - * - - -
4th Quartile Price 99.3 89.9 104.2 - - - 95.1 * * - - - 91.0 - * - - -
Avg. Price Top 5 Trades 99.1 89.5 105.6 - - - 92.3 * * - - - 91.6 - * - - -
Standard Deviation 1.5 6.6 1.8 - - - 1.5 * * - - - 7.2 - * - - -
VOLUME OF TRADES (000'S) 15,071.1 29,396.0 36,339.0 - - - 6,396.0 * * - - - 28,285.9 - * - - -
Customer Buy 6,743.2 29,396.0 27,584.0 - - - * - * - - - 21,655.5 - * - - -
Customer Sell 8,327.9 - 7,755.0 - - - * - - - - - * - * - - -
Dealer to Dealer - - * - - - * * - - - - * - - - - -
<= $1MM 4,905.8 * 5,939.0 - - - * - - - - - 2,595.0 - - - - -
<= $10MM 10,165.3 16,863.0 30,400.0 - - - * * * - - - 25,690.9 - * - - -
> $10MM - * - - - - - - - - - - - - - - - -
NUMBER OF TRADES 15 8 24 - - - 6 * * - - - 14 - * - - -
Customer Buy 7 8 15 - - - * - * - - - 9 - * - - -
Customer Sell 8 - 5 - - - * - - - - - * - * - - -
Dealer to Dealer - - * - - - * * - - - - * - - - - -
<= $1MM 10 * 16 - - - * - - - - - 8 - - - - -
<= $10MM 5 5 8 - - - * * * - - - 6 - * - - -
> $10MM - * - - - - - - - - - - - - - - - -

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-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025
AVERAGE PRICE - - - 96.8 96.8 100.6 - - - * 95.0 99.2 - - - 94.7 99.1 101.7 - - -
Weighted Avg. Price - - - 97.5 98.4 100.4 - - - * 96.9 96.8 - - - 95.9 99.8 101.6 - - -
Avg. Price Bottom 5 Trades - - - 96.8 88.6 99.9 - - - * 86.1 94.8 - - - 94.1 98.1 101.0 - - -
2nd Quartile Price - - - * 96.6 100.2 - - - * 89.3 100.2 - - - 95.0 98.5 101.1 - - -
3rd Quartile Price - - - * 100.0 100.4 - - - * 97.8 100.6 - - - 97.0 99.9 101.3 - - -
4th Quartile Price - - - * 100.1 100.8 - - - * 99.9 101.6 - - - 97.3 100.0 102.9 - - -
Avg. Price Top 5 Trades - - - 96.8 100.4 101.6 - - - * 100.0 102.1 - - - 95.8 100.0 102.2 - - -
Standard Deviation - - - 6.0 5.2 0.9 - - - * 5.9 3.8 - - - 3.0 1.3 1.1 - - -
VOLUME OF TRADES (000'S) - - - 19,832.3 103,931.6 94,407.7 - - - * 97,878.3 79,942.7 - - - 11,630.0 37,977.0 22,730.6 - - -
Customer Buy - - - * 62,267.5 53,454.3 - - - - 45,658.9 63,442.7 - - - * 15,721.0 13,932.8 - - -
Customer Sell - - - * 41,664.1 40,953.4 - - - * 44,855.4 - - - - * * * - - -
Dealer to Dealer - - - - - - - - - - * * - - - - * * - - -
<= $1MM - - - * * 2,060.3 - - - - * * - - - * * * - - -
<= $10MM - - - * 54,275.1 79,347.5 - - - * 95,978.3 45,292.7 - - - * 37,777.0 22,165.6 - - -
> $10MM - - - * * * - - - - - * - - - - - - - - -
NUMBER OF TRADES - - - 5 22 25 - - - * 26 15 - - - 6 11 8 - - -
Customer Buy - - - * 12 15 - - - - 13 14 - - - * 7 5 - - -
Customer Sell - - - * 10 10 - - - * 12 - - - - * * * - - -
Dealer to Dealer - - - - - - - - - - * * - - - - * * - - -
<= $1MM - - - * * 5 - - - - * * - - - * * * - - -
<= $10MM - - - * 14 19 - - - * 23 10 - - - * 9 6 - - -
> $10MM - - - * * * - - - - - * - - - - - - - - -

* Indicates trade count is less than 5
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.

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