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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 05/04/2026 to 05/08/2026

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 90.9 77.3 82.9 95.1 100.4 99.2 98.1 4.7 5.7 6.1 4.8 - * -
Weighted Avg. Price 96.2 85.1 92.7 98.2 101.5 99.7 97.6 6.4 4.6 6.5 2.1 - * -
Avg. Price Bottom 5 Trades 64.3 62.6 66.7 79.7 94.3 93.1 88.4 0.4 1.8 6.1 4.8 - * -
2nd Quartile Price 86.5 71.9 72.8 95.0 99.0 99.3 97.6 2.1 2.4 6.5 * - * -
3rd Quartile Price 93.9 73.0 85.9 96.8 100.8 99.8 98.6 6.4 8.0 6.5 * - * -
4th Quartile Price 98.0 88.4 93.1 100.4 102.5 100.2 99.7 7.3 8.0 6.5 * - * -
Avg. Price Top 5 Trades 100.0 94.7 97.9 101.2 103.6 101.1 100.5 8.5 8.7 6.4 4.8 - * -
Standard Deviation 8.8 9.6 11.0 7.9 2.6 2.5 3.1 3.1 3.1 0.7 2.8 - * -
VOLUME OF TRADES (000'S) 502,363.5 113,036.1 134,718.1 77,404.9 51,381.6 397,704.7 1,120,577.3 553,794.0 93,642.9 546,712.2 10,930.6 - * -
Customer Buy 233,036.5 29,986.9 56,834.0 10,390.7 8,769.1 154,990.8 342,123.1 * * * * - * -
Customer Sell 230,545.0 71,607.3 36,325.8 51,055.3 36,253.8 137,117.1 451,355.8 286,246.2 24,738.7 * * - - -
Dealer to Dealer 38,782.0 11,441.9 41,558.2 15,958.9 6,358.7 105,596.8 327,098.4 208,613.0 49,477.3 - * - - -
<= $1MM 58,345.1 23,958.0 12,911.1 8,493.3 8,052.4 5,777.7 5,687.0 2,772.3 - * * - - -
<= $10MM 170,269.1 31,725.5 20,639.9 30,626.6 13,854.3 62,958.1 201,357.9 58,211.1 61,071.0 * * - - -
> $10MM 273,749.3 * * * * 328,968.9 913,532.4 492,810.6 * 537,986.9 - - * -
NUMBER OF TRADES 396 81 86 36 87 96 79 38 23 7 5 - * -
Customer Buy 101 18 21 12 16 25 41 * * * * - * -
Customer Sell 235 36 37 12 36 45 14 16 7 * * - - -
Dealer to Dealer 60 27 28 12 35 26 24 18 12 - * - - -
<= $1MM 332 68 74 24 77 62 11 7 - * * - - -
<= $10MM 50 11 8 11 8 22 45 18 20 * * - - -
> $10MM 14 * * * * 12 23 13 * 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 97.4 * 95.7 * 103.6 104.0 102.9
Weighted Avg. Price 98.2 * 95.2 * 103.6 104.7 103.5
Avg. Price Bottom 5 Trades 88.7 * 94.4 * 102.8 103.6 101.1
2nd Quartile Price 98.0 * 93.3 * 102.5 104.2 102.8
3rd Quartile Price 98.7 * 97.4 * 104.7 105.7 103.6
4th Quartile Price 99.2 * 99.4 * 105.0 105.8 103.9
Avg. Price Top 5 Trades 99.8 * 96.8 * 104.9 104.5 104.2
Standard Deviation 3.7 * 2.8 * 1.5 1.9 1.5
VOLUME OF TRADES (000'S) 250,218.3 * 14,200.0 * 67,218.1 4,037.0 126,374.0
Customer Buy 82,818.7 * 8,550.0 * 14,898.0 * 57,419.0
Customer Sell 164,592.9 - * * * * 68,955.0
Dealer to Dealer 2,806.7 - - - * - -
<= $1MM 20,917.7 * * * 2,193.0 2,287.0 *
<= $10MM 155,615.6 * * * * * 85,150.0
> $10MM * - - - * - *
NUMBER OF TRADES 100 * 7 * 11 6 18
Customer Buy 38 * 5 * 6 * 9
Customer Sell 52 - * * * * 9
Dealer to Dealer 10 - - - * - -
<= $1MM 50 * * * 6 5 *
<= $10MM 46 * * * * * 13
> $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-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 97.8 103.3 102.7 0.8 * - 87.5 77.4 101.1 - - - 74.0 94.7 98.6 - - -
Weighted Avg. Price 98.4 101.9 102.6 0.8 * - 86.5 80.9 101.3 - - - 77.6 92.1 100.6 - - -
Avg. Price Bottom 5 Trades 93.8 101.7 100.7 0.8 * - 66.7 62.7 98.1 - - - 15.2 90.3 81.9 - - -
2nd Quartile Price 97.5 103.2 101.8 0.8 * - 81.9 66.0 100.7 - - - 66.5 83.7 100.1 - - -
3rd Quartile Price 98.6 104.3 103.1 0.8 * - 89.0 73.9 102.9 - - - 79.7 100.8 102.7 - - -
4th Quartile Price 99.0 109.6 103.4 0.8 * - 96.1 97.9 103.6 - - - 90.1 102.1 102.9 - - -
Avg. Price Top 5 Trades 99.6 105.1 104.2 0.8 * - 98.4 93.6 103.5 - - - 97.1 101.6 103.4 - - -
Standard Deviation 1.9 4.3 1.1 0.1 * - 9.4 16.7 4.8 - - - 21.6 9.5 7.9 - - -
VOLUME OF TRADES (000'S) 101,460.9 20,104.8 211,713.9 100,455.2 * - 156,696.9 40,386.1 40,037.0 - - - 286,861.0 13,967.1 128,387.5 - - -
Customer Buy 41,298.4 15,655.0 65,936.4 * * - 54,311.9 23,899.1 22,287.0 - - - 140,584.9 * 59,532.1 - - -
Customer Sell 59,349.4 * 139,753.5 * * - 101,294.0 16,487.0 17,750.0 - - - 143,899.9 * 68,855.4 - - -
Dealer to Dealer * - * * * - * - - - - - 2,376.2 - - - - -
<= $1MM 9,727.7 * 9,463.4 - - - 11,275.6 * - - - - 5,045.1 - * - - -
<= $10MM 34,768.0 * 134,057.9 18,837.5 * - 132,421.3 39,998.2 40,037.0 - - - 255,038.1 13,967.1 125,460.9 - - -
> $10MM * * 68,192.7 * - - * - - - - - * - - - - -
NUMBER OF TRADES 36 7 72 9 * - 64 12 12 - - - 80 8 34 - - -
Customer Buy 16 5 36 * * - 26 6 7 - - - 35 * 14 - - -
Customer Sell 19 * 34 * * - 35 6 5 - - - 35 * 20 - - -
Dealer to Dealer * - * * * - * - - - - - 10 - - - - -
<= $1MM 23 * 32 - - - 24 * - - - - 20 - * - - -
<= $10MM 9 * 35 7 * - 39 11 12 - - - 58 8 31 - - -
> $10MM * * 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-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 - - - 96.2 98.7 100.4 - - 100.0 92.3 95.8 99.6 - - - 78.0 93.7 100.4 - * 100.2
Weighted Avg. Price - - - 97.0 95.3 100.4 - - 100.0 90.7 95.0 99.8 - - - 76.3 93.0 100.5 - * 100.2
Avg. Price Bottom 5 Trades - - - 91.1 89.5 96.8 - - 100.0 87.4 67.5 93.0 - - - 59.5 81.5 93.8 - * 100.2
2nd Quartile Price - - - 95.0 98.6 99.9 - - * 90.8 96.5 99.0 - - - 72.5 87.0 100.0 - * *
3rd Quartile Price - - - 96.7 99.8 100.1 - - * 92.6 98.7 100.0 - - - 77.0 97.8 100.2 - * *
4th Quartile Price - - - 99.4 100.6 100.5 - - * 95.0 99.9 100.4 - - - 89.5 100.0 100.8 - * *
Avg. Price Top 5 Trades - - - 99.5 103.0 104.7 - - 100.0 96.0 101.7 105.1 - - - 96.2 103.8 105.1 - * 100.2
Standard Deviation - - - 3.4 3.9 1.2 - - 0.1 3.0 9.2 2.1 - - - 12.9 7.6 1.9 - * 0.3
VOLUME OF TRADES (000'S) - - - 37,568.0 232,867.7 1,322,529.0 - - 29,000.0 73,080.4 349,226.7 603,601.2 - - - 183,149.8 193,497.1 857,796.2 - * 19,924.0
Customer Buy - - - 13,136.8 80,889.1 596,619.6 - - 19,000.0 35,272.1 154,545.1 306,734.9 - - - 76,118.0 107,695.7 412,604.1 - * -
Customer Sell - - - 22,931.1 150,288.6 680,521.8 - - * 34,260.6 183,479.6 287,306.3 - - - 90,271.8 84,901.4 412,868.4 - * *
Dealer to Dealer - - - * * 45,387.6 - - - * 11,202.0 * - - - * * 32,323.7 - - *
<= $1MM - - - 4,434.0 13,348.2 28,343.1 - - * 8,229.7 16,183.7 20,078.6 - - - * 7,453.3 22,670.1 - - -
<= $10MM - - - 33,133.9 82,762.0 687,559.8 - - 28,850.0 53,438.2 197,002.2 303,623.1 - - - 132,730.8 148,340.2 587,828.2 - * 19,924.0
> $10MM - - - - 136,757.6 606,626.1 - - - * 136,040.9 279,899.5 - - - * * 247,297.9 - * -
NUMBER OF TRADES - - - 22 59 264 - - 7 32 78 150 - - - 40 54 203 - * 5
Customer Buy - - - 8 21 117 - - 5 15 29 77 - - - 17 26 108 - * -
Customer Sell - - - 13 34 137 - - * 13 39 69 - - - 20 27 85 - * *
Dealer to Dealer - - - * * 10 - - - * 10 * - - - * * 10 - - *
<= $1MM - - - 13 30 89 - - * 14 30 66 - - - * 16 42 - - -
<= $10MM - - - 9 22 144 - - 6 17 42 70 - - - 33 35 148 - * 5
> $10MM - - - - 7 31 - - - * 6 14 - - - * * 13 - * -

* 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.

Effective April 25th, 2026, the “Structured Trading Activity Report” and “Daily CMBS Pricing Tables” were revised for the as-of dates of February 23, 2026, through February 26, 2026. This revision was due to an issue with incorrect factors that primarily impacted the “OTHER CMBS HY (P&I)” bucket.

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