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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 06/09/2025 to 06/13/2025

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 96.1 88.6 80.4 93.9 96.9 99.3 97.1 4.8 6.3 7.7 3.7 3.8 4.5 *
Weighted Avg. Price 97.1 87.7 78.0 97.3 99.6 100.3 96.4 4.9 6.1 6.0 3.9 4.2 4.3 *
Avg. Price Bottom 5 Trades 76.0 75.5 65.5 83.8 83.9 95.4 88.1 4.8 4.3 7.2 2.6 3.6 4.5 *
2nd Quartile Price 96.4 85.4 73.0 90.4 96.2 97.2 96.3 * 5.1 5.8 4.7 4.1 * *
3rd Quartile Price 97.8 90.2 84.0 94.2 99.2 99.6 98.7 * 5.8 10.8 4.8 4.2 * *
4th Quartile Price 98.6 94.3 88.1 100.0 101.4 100.9 99.6 * 9.8 10.8 4.9 4.9 * *
Avg. Price Top 5 Trades 100.4 99.0 93.7 100.4 101.7 103.5 100.7 4.8 8.8 8.7 4.9 4.1 4.5 *
Standard Deviation 4.8 8.0 11.5 5.7 7.4 2.5 4.2 2.2 2.6 3.7 1.8 1.3 0.3 *
VOLUME OF TRADES (000'S) 556,239.2 198,363.6 25,542.8 115,971.3 188,148.5 60,842.0 322,750.4 200,439.9 157,436.5 312,209.7 916,337.5 524,299.6 262,152.6 *
Customer Buy 223,451.8 13,840.6 5,684.2 57,612.8 28,793.5 14,067.0 83,896.5 * * * * * * *
Customer Sell 161,970.7 26,582.5 15,804.0 15,186.4 23,552.7 22,902.0 49,685.5 * * * * * * -
Dealer to Dealer 170,816.7 157,940.6 4,054.6 43,172.0 135,802.3 23,873.0 189,168.4 * 62,805.1 * * * * -
<= $1MM 65,394.1 9,905.5 11,596.6 6,956.3 5,022.4 7,478.0 4,816.1 - - - - - - -
<= $10MM 283,826.6 35,708.1 13,946.2 75,999.2 78,126.1 42,364.0 53,995.7 - 72,008.5 * - - * -
> $10MM 207,018.4 * - * * * 263,938.6 200,439.9 85,428.0 * 916,337.5 524,299.6 * *
NUMBER OF TRADES 272 51 29 42 39 92 49 5 14 7 10 8 5 *
Customer Buy 85 16 10 16 12 13 20 * * * * * * *
Customer Sell 99 19 11 12 12 40 14 * * * * * * -
Dealer to Dealer 88 16 8 14 15 39 15 * 6 * * * * -
<= $1MM 184 37 24 21 15 83 24 - - - - - - -
<= $10MM 78 12 5 19 21 8 15 - 8 * - - * -
> $10MM 10 * - * * * 10 5 6 * 10 8 * *

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 97.3 87.3 86.0 94.1 105.2 101.7 103.2
Weighted Avg. Price 98.0 88.4 86.1 99.1 104.9 102.1 103.0
Avg. Price Bottom 5 Trades 92.1 85.0 85.2 90.7 104.2 99.0 102.9
2nd Quartile Price 96.8 85.3 85.8 90.9 105.3 100.3 103.0
3rd Quartile Price 97.9 87.7 86.1 95.6 105.5 102.1 103.1
4th Quartile Price 98.9 90.8 86.7 96.3 110.1 103.6 103.7
Avg. Price Top 5 Trades 99.7 89.8 86.9 97.8 106.2 104.0 103.4
Standard Deviation 2.1 2.7 0.6 4.1 3.1 1.8 0.4
VOLUME OF TRADES (000'S) 125,172.8 11,085.0 22,463.0 27,515.0 4,600.0 73,306.0 44,035.0
Customer Buy 46,716.0 2,430.0 8,708.0 16,290.0 * 58,569.0 18,765.0
Customer Sell 62,387.7 8,325.0 13,755.0 9,475.0 2,800.0 13,217.0 *
Dealer to Dealer 16,069.1 * - * - * -
<= $1MM 24,630.3 3,335.0 5,923.0 6,315.0 * 5,622.0 778.0
<= $10MM 79,482.5 * 16,540.0 * * 51,900.0 *
> $10MM * - - * - * *
NUMBER OF TRADES 96 13 21 14 6 23 9
Customer Buy 23 5 9 5 * 12 6
Customer Sell 54 7 12 7 5 9 *
Dealer to Dealer 19 * - * - * -
<= $1MM 70 10 16 10 * 14 5
<= $10MM 24 * 5 * * 8 *
> $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 97.3 88.9 103.2 2.2 5.5 - 94.2 78.9 99.5 1.4 - - 85.0 - 98.9 - * -
Weighted Avg. Price 97.6 88.1 103.5 1.9 4.6 - 95.1 77.0 98.8 1.2 - - 86.3 - 99.2 - * -
Avg. Price Bottom 5 Trades 92.6 86.4 100.9 1.5 5.5 - 83.4 76.7 94.4 1.4 - - 65.3 - 92.4 - * -
2nd Quartile Price 97.1 89.0 102.5 1.5 * - 92.6 82.1 100.4 * - - 81.3 - 99.7 - * -
3rd Quartile Price 97.8 91.1 103.3 1.6 * - 95.4 86.6 101.4 * - - 86.3 - 100.8 - * -
4th Quartile Price 98.8 92.1 103.7 2.9 * - 97.3 90.0 102.3 * - - 92.5 - 103.6 - * -
Avg. Price Top 5 Trades 99.5 91.4 105.7 3.1 5.5 - 98.7 81.7 102.6 1.4 - - 97.0 - 103.9 - * -
Standard Deviation 2.0 3.3 1.2 1.1 1.3 - 4.5 10.9 5.0 1.0 - - 12.2 - 5.7 - * -
VOLUME OF TRADES (000'S) 61,798.8 6,607.4 191,454.0 392,180.6 152,326.8 - 90,808.4 10,519.0 53,000.2 304,694.8 - - 113,591.3 - 52,912.6 - * -
Customer Buy 18,435.6 * 110,124.0 * - - 42,377.1 * 16,806.8 * - - 57,711.9 - 26,695.0 - * -
Customer Sell 26,782.3 5,521.4 80,720.0 184,255.6 * - 42,723.9 * 31,484.8 * - - 43,939.5 - 25,115.8 - - -
Dealer to Dealer 16,580.9 * * 129,120.9 * - 5,707.4 * * * - - 11,939.8 - * - - -
<= $1MM 10,748.5 2,477.4 17,323.0 - - - 14,236.9 * * - - - 3,435.2 - 6,665.7 - - -
<= $10MM 51,050.3 * 118,685.0 * * - 76,571.5 * 52,374.1 - - - 110,156.0 - 31,246.9 - * -
> $10MM - - 55,446.0 383,715.1 137,296.9 - - - - 304,694.8 - - - - * - * -
NUMBER OF TRADES 69 10 72 14 7 - 53 6 19 5 - - 42 - 19 - * -
Customer Buy 13 * 32 * - - 22 * 6 * - - 19 - 9 - * -
Customer Sell 35 8 37 6 * - 24 * 9 * - - 15 - 8 - - -
Dealer to Dealer 21 * * 5 * - 7 * * * - - 8 - * - - -
<= $1MM 43 9 46 - - - 29 * * - - - 12 - 11 - - -
<= $10MM 26 * 21 * * - 24 * 16 - - - 30 - 7 - * -
> $10MM - - 5 11 5 - - - - 5 - - - - * - * -

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 - - - 95.1 96.5 100.1 - - - 94.0 97.1 99.7 - - - 82.3 96.4 100.8 - * *
Weighted Avg. Price - - - 94.1 96.0 100.0 - - - 95.1 97.0 99.5 - - - 89.7 95.5 101.1 - * *
Avg. Price Bottom 5 Trades - - - 91.5 85.5 95.3 - - - 83.4 86.8 95.9 - - - 34.0 76.2 96.4 - * *
2nd Quartile Price - - - 92.3 92.7 99.8 - - - 93.0 95.9 99.1 - - - 86.6 98.3 99.8 - * *
3rd Quartile Price - - - 96.0 99.6 100.1 - - - 95.4 98.6 100.0 - - - 94.4 99.4 100.3 - * *
4th Quartile Price - - - 99.3 99.8 100.9 - - - 97.8 99.8 100.3 - - - 97.0 99.9 102.5 - * *
Avg. Price Top 5 Trades - - - 98.8 100.2 102.4 - - - 99.3 100.1 102.7 - - - 98.6 100.1 106.4 - * *
Standard Deviation - - - 3.4 4.8 1.3 - - - 5.5 3.7 1.5 - - - 25.7 8.7 2.6 - * *
VOLUME OF TRADES (000'S) - - - 64,301.1 165,369.3 462,140.9 - - - 69,410.5 143,452.7 326,335.4 - - - 130,489.8 140,299.8 212,745.6 - * *
Customer Buy - - - 44,790.0 77,099.0 186,360.1 - - - 30,476.0 80,767.3 145,666.9 - - - 67,783.4 67,622.8 112,805.6 - * *
Customer Sell - - - 16,549.1 78,219.3 238,782.7 - - - 38,548.0 51,797.1 150,530.3 - - - 62,706.4 69,977.9 74,430.0 - * -
Dealer to Dealer - - - * 10,051.1 36,998.0 - - - * 10,888.3 30,138.2 - - - - * 25,510.0 - - -
<= $1MM - - - 2,076.1 11,544.7 39,544.9 - - - 7,468.4 17,298.0 16,515.6 - - - 3,326.8 9,897.1 12,125.6 - - -
<= $10MM - - - 52,179.1 122,281.4 226,430.5 - - - 61,942.1 126,154.7 243,591.3 - - - 106,291.0 115,402.7 200,620.0 - * *
> $10MM - - - * * 196,165.5 - - - - - 66,228.5 - - - * * - - * -
NUMBER OF TRADES - - - 18 61 175 - - - 42 77 114 - - - 41 45 67 - * *
Customer Buy - - - 9 24 65 - - - 18 34 49 - - - 22 22 35 - * *
Customer Sell - - - 7 27 80 - - - 20 32 43 - - - 19 19 23 - * -
Dealer to Dealer - - - * 10 30 - - - * 11 22 - - - - * 9 - - -
<= $1MM - - - 5 32 92 - - - 21 36 38 - - - 12 16 19 - - -
<= $10MM - - - 12 27 74 - - - 21 41 71 - - - 27 28 48 - * *
> $10MM - - - * * 9 - - - - - 5 - - - * * - - * -

* 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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