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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 05/11/2026 to 05/15/2026

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 94.4 81.7 90.3 96.2 99.1 98.0 97.4 3.5 * 3.6 * * 5.1 -
Weighted Avg. Price 98.2 84.7 96.0 95.1 99.1 99.0 97.0 2.1 * 3.5 * * 4.6 -
Avg. Price Bottom 5 Trades 69.5 70.6 78.8 88.2 82.4 82.0 87.2 1.6 * 3.2 * * 4.0 -
2nd Quartile Price 92.0 73.0 87.7 95.9 99.2 98.3 97.3 3.0 * 2.0 * * 3.3 -
3rd Quartile Price 96.8 78.9 90.3 99.5 100.5 99.5 97.9 3.6 * 4.1 * * 7.4 -
4th Quartile Price 98.7 90.1 93.7 100.9 101.4 100.0 99.0 3.9 * 6.5 * * 8.2 -
Avg. Price Top 5 Trades 99.8 99.3 99.5 100.9 103.2 100.8 101.4 6.0 * 3.9 * * 6.3 -
Standard Deviation 6.2 10.2 6.1 7.1 4.9 4.7 3.3 1.5 * 2.0 * * 2.8 -
VOLUME OF TRADES (000'S) 783,798.7 174,123.4 283,656.3 72,898.1 141,956.9 408,938.0 880,793.5 1,043,763.0 * 997,937.0 * * 742,648.6 -
Customer Buy 310,905.3 132,484.9 64,224.4 56,737.2 49,740.4 220,641.3 438,941.7 156,947.9 * * - - 477,084.2 -
Customer Sell 425,498.5 * 151,002.6 2,615.0 14,800.1 137,218.4 150,673.1 886,815.1 * 684,164.3 - * * -
Dealer to Dealer 47,395.0 4,007.0 68,429.2 * 77,416.4 51,078.3 291,178.7 - - - * - - -
<= $1MM 31,595.2 9,599.9 10,990.4 3,215.0 6,128.8 7,062.5 7,742.1 * - - - - - -
<= $10MM 203,588.1 * 51,409.9 31,398.1 52,981.3 109,263.0 226,494.4 70,647.4 - - - - - -
> $10MM 548,615.3 154,733.5 221,255.9 * * 292,612.5 646,557.0 971,172.3 * 997,937.0 * * 742,648.6 -
NUMBER OF TRADES 258 40 44 18 98 115 78 31 * 8 * * 7 -
Customer Buy 97 25 21 9 32 37 45 9 * * - - 5 -
Customer Sell 89 * 11 6 36 43 5 22 * 5 - * * -
Dealer to Dealer 72 11 12 * 30 35 28 - - - * - - -
<= $1MM 181 31 26 9 75 73 12 * - - - - - -
<= $10MM 70 * 12 8 20 31 44 15 - - - - - -
> $10MM 7 5 6 * * 11 22 13 * 8 * * 7 -

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 96.8 88.4 95.4 104.8 102.4 103.5 101.6
Weighted Avg. Price 96.8 88.4 93.9 104.6 103.3 103.4 102.2
Avg. Price Bottom 5 Trades 88.2 87.9 95.4 103.6 101.0 102.6 99.7
2nd Quartile Price 95.0 88.0 * 104.2 101.5 102.9 100.2
3rd Quartile Price 98.5 88.4 * 104.4 103.5 103.8 102.8
4th Quartile Price 98.8 89.0 * 105.9 104.4 104.6 103.0
Avg. Price Top 5 Trades 99.6 88.9 95.4 105.8 103.7 104.4 103.0
Standard Deviation 3.2 0.9 5.6 1.9 1.9 1.5 1.7
VOLUME OF TRADES (000'S) 336,543.2 10,973.0 10,350.0 10,138.3 11,718.0 9,950.0 40,612.0
Customer Buy 161,694.3 * * * * 7,400.0 30,630.0
Customer Sell 150,956.0 6,273.0 * 8,425.0 3,668.0 * *
Dealer to Dealer 23,892.9 - - * - - -
<= $1MM 13,635.7 * * 2,008.3 968.0 3,000.0 2,057.0
<= $10MM 132,486.0 10,545.0 * * * * 38,555.0
> $10MM 190,421.5 - - - - - -
NUMBER OF TRADES 104 8 5 9 9 8 14
Customer Buy 38 * * * * 7 11
Customer Sell 50 6 * 5 5 * *
Dealer to Dealer 16 - - * - - -
<= $1MM 54 * * 6 6 5 5
<= $10MM 38 5 * * * * 9
> $10MM 12 - - - - - -

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 97.2 99.0 102.2 0.7 - - 90.5 * 101.9 * - - 75.1 97.0 102.1 - - -
Weighted Avg. Price 97.5 97.5 102.0 0.9 - - 88.8 * 104.1 * - - 63.3 96.1 102.5 - - -
Avg. Price Bottom 5 Trades 89.2 90.5 99.9 0.4 - - 74.2 * 101.9 * - - 7.2 97.0 101.2 - - -
2nd Quartile Price 96.9 95.1 101.5 0.2 - - 86.7 * * * - - 76.1 * 102.6 - - -
3rd Quartile Price 98.1 101.5 102.4 0.2 - - 92.1 * * * - - 89.8 * 102.6 - - -
4th Quartile Price 98.9 103.5 103.1 1.2 - - 95.3 * * * - - 95.0 * 102.8 - - -
Avg. Price Top 5 Trades 99.6 104.4 103.9 0.9 - - 98.5 * 101.9 * - - 97.7 97.0 102.8 - - -
Standard Deviation 2.8 5.3 1.0 0.8 - - 6.2 * 3.0 * - - 30.3 2.4 1.1 - - -
VOLUME OF TRADES (000'S) 192,104.7 42,305.1 639,446.1 185,564.8 - - 168,785.8 * 22,970.0 * - - 252,166.2 18,960.6 99,388.5 - - -
Customer Buy 81,039.0 15,519.5 263,780.7 * - - 72,581.0 * * - - - 120,402.0 * * - - -
Customer Sell 109,925.8 25,668.6 370,165.4 * - - 88,372.5 * * * - - 127,402.5 * 43,982.5 - - -
Dealer to Dealer 1,139.8 1,117.0 * * - - * - * - - - 4,361.7 - * - - -
<= $1MM 14,044.1 5,675.9 21,860.4 - - - 12,995.6 * * - - - 4,482.4 - * - - -
<= $10MM 95,364.0 36,629.1 135,303.0 * - - 144,790.2 * * - - - 118,501.5 18,960.6 48,984.0 - - -
> $10MM 82,696.5 - 482,282.7 * - - * - - * - - 129,182.2 - * - - -
NUMBER OF TRADES 74 29 107 8 - - 82 * 5 * - - 71 5 13 - - -
Customer Buy 31 9 45 * - - 32 * * - - - 31 * * - - -
Customer Sell 36 15 58 * - - 47 * * * - - 33 * 6 - - -
Dealer to Dealer 7 5 * * - - * - * - - - 7 - * - - -
<= $1MM 43 17 54 - - - 31 * * - - - 20 - * - - -
<= $10MM 25 12 37 * - - 50 * * - - - 43 5 9 - - -
> $10MM 6 - 16 * - - * - - * - - 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 - - - 95.3 98.4 99.3 - - * 94.3 96.4 99.5 - - * 85.4 91.0 99.5 - * *
Weighted Avg. Price - - - 95.7 97.2 99.8 - - * 94.8 96.2 99.6 - - * 86.3 91.8 99.9 - * *
Avg. Price Bottom 5 Trades - - - 87.2 89.1 94.4 - - * 86.9 86.5 93.7 - - * 58.6 76.1 85.6 - * *
2nd Quartile Price - - - 94.6 98.3 98.6 - - * 91.6 96.3 99.1 - - * 78.6 83.6 99.3 - * *
3rd Quartile Price - - - 96.7 99.4 99.9 - - * 96.1 97.6 100.1 - - * 87.9 93.3 100.2 - * *
4th Quartile Price - - - 98.8 100.0 100.3 - - * 97.2 99.3 100.4 - - * 96.5 99.3 100.5 - * *
Avg. Price Top 5 Trades - - - 99.7 102.2 104.4 - - * 99.2 100.8 102.7 - - * 99.1 100.0 104.2 - * *
Standard Deviation - - - 4.3 4.0 2.0 - - * 3.7 4.3 1.9 - - * 11.9 8.3 3.1 - * *
VOLUME OF TRADES (000'S) - - - 126,180.8 148,922.1 919,782.5 - - * 195,929.9 108,962.2 331,283.7 - - * 205,876.8 221,583.6 736,842.1 - * *
Customer Buy - - - 59,890.0 82,634.1 416,022.6 - - * 66,736.8 55,807.0 181,014.4 - - * 104,623.3 112,789.5 309,462.7 - * *
Customer Sell - - - 66,290.8 66,078.0 457,908.5 - - * 86,073.1 46,530.3 128,169.3 - - - 100,753.4 108,794.1 349,304.7 - - -
Dealer to Dealer - - - - * 45,851.4 - - - 43,120.0 * 22,100.0 - - - * - 78,074.7 - - -
<= $1MM - - - 3,425.3 4,121.1 23,137.6 - - * 5,036.5 7,509.9 17,487.8 - - * 7,328.4 4,282.0 14,172.2 - - *
<= $10MM - - - 112,571.5 71,581.9 505,710.1 - - * 162,668.1 101,452.3 313,795.9 - - - 178,086.4 193,301.6 537,837.2 - * *
> $10MM - - - * 73,219.0 390,934.8 - - - * - - - - - * * 184,832.7 - - -
NUMBER OF TRADES - - - 36 41 221 - - * 54 50 133 - - * 74 51 157 - * *
Customer Buy - - - 17 18 112 - - * 23 26 70 - - * 37 26 75 - * *
Customer Sell - - - 19 21 97 - - * 26 21 55 - - - 35 25 67 - - -
Dealer to Dealer - - - - * 12 - - - 5 * 8 - - - * - 15 - - -
<= $1MM - - - 8 19 70 - - * 14 20 38 - - * 21 8 30 - - *
<= $10MM - - - 27 16 129 - - * 38 30 95 - - - 51 41 117 - * *
> $10MM - - - * 6 22 - - - * - - - - - * * 10 - - -

* 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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