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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 02/09/2026 to 02/13/2026

Pricing Table: Agency CMBS by Deal Vintage
METRIC AGENCY CMBS (P&I) AGENCY CMBS (IO/PO)
PRE-2021 2021 2022 2023 2024 2025 2026 PRE-2021 2021 2022 2023 2024 2025 2026
AVERAGE PRICE 96.5 90.8 90.7 97.8 100.8 100.1 98.8 5.9 12.5 4.2 - * * *
Weighted Avg. Price 95.4 92.9 91.6 97.4 100.6 100.4 99.2 3.8 4.8 4.2 - * * *
Avg. Price Bottom 5 Trades 75.5 75.6 76.8 80.3 89.3 86.9 93.1 3.6 0.6 4.2 - * * *
2nd Quartile Price 95.2 89.3 86.9 98.6 100.2 100.1 98.6 6.3 4.6 * - * * *
3rd Quartile Price 98.7 91.8 91.8 101.1 101.3 100.9 99.5 6.6 7.4 * - * * *
4th Quartile Price 99.5 96.5 97.0 101.7 102.8 101.4 100.2 7.4 10.6 * - * * *
Avg. Price Top 5 Trades 100.7 99.6 100.0 102.9 104.9 103.1 100.7 7.6 35.2 4.2 - * * *
Standard Deviation 5.0 8.3 7.2 8.3 4.0 3.4 4.0 2.1 21.7 1.0 - * * *
VOLUME OF TRADES (000'S) 774,782.7 239,964.6 146,880.0 100,290.8 309,545.0 889,950.4 1,176,405.2 932,791.2 2,757,792.2 637,832.9 - * * *
Customer Buy 414,959.9 99,632.0 71,113.1 17,760.5 122,253.0 566,857.3 661,543.2 65,693.4 339,417.3 * - * * *
Customer Sell 234,375.4 72,478.4 40,938.3 48,258.9 133,696.8 211,242.7 * 566,638.1 2,418,374.9 * - - - -
Dealer to Dealer 125,447.4 67,854.2 34,828.7 34,271.3 53,595.2 111,850.4 221,000.0 * - * - - - *
<= $1MM 37,662.3 3,555.6 4,714.5 2,072.1 5,508.7 7,905.3 * - - - - - - *
<= $10MM 364,136.5 89,238.1 65,713.6 98,218.7 29,855.2 115,635.4 46,871.5 * * - - - - *
> $10MM 372,983.9 147,170.8 76,451.9 - 274,181.2 766,409.7 1,126,903.7 913,317.2 2,748,481.9 637,832.9 - * * *
NUMBER OF TRADES 287 43 53 36 85 113 39 15 19 5 - * * *
Customer Buy 102 19 29 12 25 45 29 5 9 * - * * *
Customer Sell 116 14 15 18 39 45 * 7 10 * - - - -
Dealer to Dealer 69 10 9 6 21 23 6 * - * - - - *
<= $1MM 176 13 26 13 65 70 * - - - - - - *
<= $10MM 93 24 21 23 14 22 12 * * - - - - *
> $10MM 18 6 6 - 6 21 24 11 17 5 - * * *

Pricing Table: CMBS Conduit AAA LCF (P&I) by Deal Vintage
METRIC CONDUIT AAA LCF (P&I)
PRE-2021 2021 2022 2023 2024 2025 2026
AVERAGE PRICE 97.9 90.3 99.2 * 104.8 105.2 -
Weighted Avg. Price 96.5 90.8 105.3 * 106.3 106.1 -
Avg. Price Bottom 5 Trades 89.9 89.8 97.6 * 102.5 101.7 -
2nd Quartile Price 98.3 89.8 99.3 * 104.8 104.1 -
3rd Quartile Price 99.3 90.4 106.6 * 105.3 105.0 -
4th Quartile Price 99.8 91.3 106.9 * 105.9 107.6 -
Avg. Price Top 5 Trades 100.5 90.9 100.8 * 106.6 108.3 -
Standard Deviation 3.2 0.8 6.9 * 2.1 2.3 -
VOLUME OF TRADES (000'S) 199,037.1 13,314.2 16,520.0 * 63,309.5 96,682.5 -
Customer Buy 94,996.7 10,784.2 * * 44,639.5 73,437.5 -
Customer Sell 84,040.3 * * * 18,630.0 23,217.0 -
Dealer to Dealer * - - - * * -
<= $1MM 13,589.1 4,130.0 * * 2,740.0 897.0 -
<= $10MM 121,146.3 * * * * 95,785.5 -
> $10MM 64,301.6 - * * * - -
NUMBER OF TRADES 69 9 6 * 16 31 -
Customer Buy 31 6 * * 8 21 -
Customer Sell 34 * * * 6 8 -
Dealer to Dealer * - - - * * -
<= $1MM 30 6 * * 10 8 -
<= $10MM 34 * * * * 23 -
> $10MM 5 - * * * - -

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-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 98.5 102.5 103.8 3.2 4.7 * 90.5 85.2 99.8 * - - 77.2 * 96.9 * - -
Weighted Avg. Price 98.8 99.4 104.2 1.4 5.0 * 91.0 85.2 100.5 * - - 75.3 * 92.5 * - -
Avg. Price Bottom 5 Trades 94.2 93.7 99.8 3.2 4.7 * 73.1 65.6 85.2 * - - 9.8 * 88.2 * - -
2nd Quartile Price 98.6 102.6 103.3 * * * 88.1 70.3 102.8 * - - 76.0 * 100.6 * - -
3rd Quartile Price 99.1 105.0 104.0 * * * 93.2 87.5 103.9 * - - 83.1 * 100.8 * - -
4th Quartile Price 99.4 105.3 105.0 * * * 95.2 104.3 104.9 * - - 91.8 * 103.5 * - -
Avg. Price Top 5 Trades 100.0 107.2 106.9 3.2 4.7 * 98.4 105.7 105.6 * - - 97.5 * 103.2 * - -
Standard Deviation 1.6 5.7 1.7 2.0 1.1 * 8.0 15.7 8.3 * - - 22.6 * 12.1 * - -
VOLUME OF TRADES (000'S) 68,888.8 110,122.1 324,760.7 101,336.6 188,856.4 * 131,860.4 44,718.0 82,961.0 * - - 323,575.4 * 90,151.6 * - -
Customer Buy 33,886.3 79,719.1 199,192.6 * * * 61,923.2 20,509.0 46,044.0 - - - 144,648.0 * 52,038.6 * - -
Customer Sell 34,983.1 30,403.0 119,377.1 * * * 69,937.2 24,209.0 36,817.0 * - - 157,251.0 * 38,113.0 * - -
Dealer to Dealer * - 6,191.1 - - - - - * - - - 21,676.3 - - - - -
<= $1MM 10,450.6 3,230.3 19,207.5 * - - 3,404.4 6,330.0 1,577.0 - - - 4,944.5 - - - - -
<= $10MM 58,438.2 50,979.6 196,933.2 * * * 106,982.0 38,388.0 81,384.0 - - - 256,272.9 * 63,679.6 - - -
> $10MM - * 108,620.0 * * * * - - * - - * - * * - -
NUMBER OF TRADES 52 24 135 5 5 * 40 19 25 * - - 94 * 13 * - -
Customer Buy 25 18 67 * * * 20 10 16 - - - 33 * 7 * - -
Customer Sell 25 6 51 * * * 20 9 7 * - - 48 * 6 * - -
Dealer to Dealer * - 17 - - - - - * - - - 13 - - - - -
<= $1MM 32 12 87 * - - 12 9 6 - - - 26 - - - - -
<= $10MM 20 9 40 * * * 26 10 19 - - - 64 * 11 - - -
> $10MM - * 8 * * * * - - * - - * - * * - -

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 - - - 95.6 99.4 100.8 - - - 90.1 95.3 101.0 - - - 79.8 93.2 100.6 - - *
Weighted Avg. Price - - - 95.2 97.5 100.7 - - - 87.2 95.5 101.0 - - - 83.3 94.2 101.0 - - *
Avg. Price Bottom 5 Trades - - - 90.8 89.0 98.2 - - - 74.5 82.1 95.5 - - - 31.2 83.7 94.2 - - *
2nd Quartile Price - - - 93.5 99.4 100.1 - - - 89.9 93.0 100.3 - - - 70.8 87.5 100.1 - - *
3rd Quartile Price - - - 96.5 100.0 100.3 - - - 93.5 97.5 101.0 - - - 83.0 96.0 100.4 - - *
4th Quartile Price - - - 98.6 100.5 101.2 - - - 96.6 99.8 101.7 - - - 95.3 98.8 101.0 - - *
Avg. Price Top 5 Trades - - - 99.1 104.4 104.3 - - - 98.7 101.1 105.4 - - - 99.6 99.8 106.1 - - *
Standard Deviation - - - 3.3 4.0 1.2 - - - 10.0 5.7 1.9 - - - 18.5 6.3 2.2 - - *
VOLUME OF TRADES (000'S) - - - 64,036.5 270,449.1 578,124.1 - - - 66,158.7 300,542.4 301,368.4 - - - 363,803.1 171,388.6 737,323.7 - - *
Customer Buy - - - 44,112.0 89,833.4 254,312.5 - - - 31,209.6 146,970.8 137,441.6 - - - 160,287.2 69,027.2 325,181.4 - - *
Customer Sell - - - 9,924.5 179,805.7 303,596.5 - - - 32,204.0 110,993.4 150,926.9 - - - 193,515.4 97,317.2 381,062.3 - - *
Dealer to Dealer - - - * * * - - - * 42,578.2 13,000.0 - - - * * 31,080.0 - - -
<= $1MM - - - 6,806.5 10,431.6 26,303.5 - - - 6,380.7 12,808.3 17,829.4 - - - 13,705.0 5,414.3 21,867.0 - - -
<= $10MM - - - 46,925.0 98,801.6 311,890.4 - - - 59,777.9 169,635.7 231,439.0 - - - 315,898.1 95,126.3 477,767.7 - - *
> $10MM - - - * 161,215.9 239,930.1 - - - - 118,098.5 * - - - * 70,848.0 237,689.0 - - -
NUMBER OF TRADES - - - 24 55 154 - - - 29 86 103 - - - 117 44 165 - - *
Customer Buy - - - 14 23 76 - - - 14 43 47 - - - 56 19 77 - - *
Customer Sell - - - 8 30 75 - - - 13 36 50 - - - 57 23 77 - - *
Dealer to Dealer - - - * * * - - - * 7 6 - - - * * 11 - - -
<= $1MM - - - 12 26 69 - - - 11 30 44 - - - 35 11 37 - - -
<= $10MM - - - 11 21 71 - - - 18 49 55 - - - 79 28 117 - - *
> $10MM - - - * 8 14 - - - - 7 * - - - * 5 11 - - -

* 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.

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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