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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 05/18/2026 to 05/22/2026

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 95.3 80.7 90.9 94.3 99.4 97.8 94.9 * * * * * - -
Weighted Avg. Price 96.8 85.2 98.4 92.2 99.9 96.0 95.0 * * * * * - -
Avg. Price Bottom 5 Trades 81.0 68.9 81.3 84.9 94.4 90.8 80.5 * * * * * - -
2nd Quartile Price 93.5 71.8 88.1 92.5 98.3 97.7 95.8 * * * * * - -
3rd Quartile Price 97.8 78.0 92.8 95.2 100.2 98.5 97.1 * * * * * - -
4th Quartile Price 98.9 89.6 95.3 99.0 100.7 99.3 98.8 * * * * * - -
Avg. Price Top 5 Trades 100.1 95.8 97.5 100.5 102.1 100.3 100.4 * * * * * - -
Standard Deviation 5.0 10.0 6.2 5.6 2.2 2.9 6.2 * * * * * - -
VOLUME OF TRADES (000'S) 735,959.7 20,368.1 158,487.1 72,108.1 168,529.9 277,220.6 739,989.3 * * * * * - -
Customer Buy 256,271.4 15,861.5 1,794.1 28,632.4 50,993.1 67,871.3 296,074.9 - * * * - - -
Customer Sell 322,694.9 2,154.6 82,206.3 26,130.2 73,573.8 105,495.4 106,017.6 * - - * * - -
Dealer to Dealer 156,993.3 2,352.0 74,486.6 17,345.5 43,962.9 103,853.9 337,896.8 - - - - - - -
<= $1MM 55,814.9 11,174.7 7,273.4 4,212.1 5,873.3 10,522.2 6,501.4 - - - - - - -
<= $10MM 212,803.3 * * 57,808.8 42,750.7 16,118.2 82,166.0 - * - - * - -
> $10MM 467,341.5 - * * 119,906.0 250,580.2 651,322.0 * - * * - - -
NUMBER OF TRADES 279 38 25 28 78 79 48 * * * * * - -
Customer Buy 104 20 6 8 19 19 29 - * * * - - -
Customer Sell 115 7 11 13 32 34 5 * - - * * - -
Dealer to Dealer 60 11 8 7 27 26 14 - - - - - - -
<= $1MM 199 36 19 15 61 68 8 - - - - - - -
<= $10MM 59 * * 12 11 5 17 - * - - * - -
> $10MM 21 - * * 6 6 23 * - * * - - -

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 97.3 * * 102.8 102.7 * 101.0
Weighted Avg. Price 97.9 * * 102.5 102.1 * 101.6
Avg. Price Bottom 5 Trades 89.8 * * 102.0 102.1 * 99.6
2nd Quartile Price 97.1 * * 102.3 102.6 * 101.3
3rd Quartile Price 98.6 * * 103.6 103.3 * 101.4
4th Quartile Price 99.2 * * 105.3 103.7 * 102.4
Avg. Price Top 5 Trades 99.7 * * 103.9 103.4 * 102.3
Standard Deviation 2.8 * * 2.0 1.0 * 1.4
VOLUME OF TRADES (000'S) 349,319.6 * * 23,306.7 44,503.4 * 98,506.0
Customer Buy 140,853.7 * * 15,306.7 41,828.4 * 51,506.0
Customer Sell 208,265.9 * - * * - *
Dealer to Dealer 200.0 - - - - - -
<= $1MM 10,749.4 * * * * * *
<= $10MM 165,815.1 * - 21,900.0 * * 35,506.0
> $10MM 172,755.1 - - - * - *
NUMBER OF TRADES 88 * * 7 9 * 14
Customer Buy 24 * * 5 5 * 10
Customer Sell 59 * - * * - *
Dealer to Dealer 5 - - - - - -
<= $1MM 36 * * * * * *
<= $10MM 43 * - 5 * * 9
> $10MM 9 - - - * - *

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 97.9 98.2 101.8 * - - 90.3 73.4 87.1 * * * 85.4 62.5 100.6 1.2 - -
Weighted Avg. Price 98.7 102.0 102.3 * - - 87.9 65.1 86.3 * * * 81.2 57.3 100.4 1.0 - -
Avg. Price Bottom 5 Trades 92.5 81.3 98.3 * - - 80.2 59.8 87.1 * * * 54.1 18.9 99.5 1.2 - -
2nd Quartile Price 97.8 100.8 100.7 * - - 86.5 61.3 * * * * 82.1 37.0 100.1 * - -
3rd Quartile Price 98.8 101.7 102.3 * - - 92.8 62.0 * * * * 85.6 86.8 100.3 * - -
4th Quartile Price 99.4 103.1 102.8 * - - 96.0 87.1 * * * * 95.3 95.5 101.8 * - -
Avg. Price Top 5 Trades 99.7 103.7 104.1 * - - 97.0 91.7 87.1 * * * 97.3 94.0 101.9 1.2 - -
Standard Deviation 2.3 7.5 1.5 * - - 7.1 17.0 2.5 * * * 14.2 36.8 1.1 0.7 - -
VOLUME OF TRADES (000'S) 89,424.9 403,181.1 541,387.6 * - - 44,373.4 44,324.5 46,332.0 * * * 127,655.5 19,993.1 40,303.5 43,043.5 - -
Customer Buy 31,150.2 171,120.8 263,877.4 * - - 17,185.1 22,787.2 * * * * 63,881.6 * 24,376.3 * - -
Customer Sell 58,082.2 231,955.3 277,380.2 * - - 19,837.3 * * * - * 63,355.1 13,238.9 * * - -
Dealer to Dealer * * * - - - 7,351.0 * - - - - 418.8 * * - - -
<= $1MM 7,746.6 4,210.2 10,550.0 - - - 3,047.7 * - - - - 3,437.7 2,806.3 * - - -
<= $10MM 47,896.2 66,208.0 116,085.6 - - - 41,325.6 43,524.5 * - - - 90,547.2 17,186.8 39,924.6 30,502.5 - -
> $10MM * 332,763.0 414,752.0 * - - - - * * * * * - - * - -
NUMBER OF TRADES 42 41 81 * - - 28 12 5 * * * 60 13 14 6 - -
Customer Buy 14 19 36 * - - 11 7 * * * * 21 * 8 * - -
Customer Sell 25 19 41 * - - 12 * * * - * 24 9 * * - -
Dealer to Dealer * * * - - - 5 * - - - - 15 * * - - -
<= $1MM 27 14 37 - - - 15 * - - - - 28 5 * - - -
<= $10MM 12 13 28 - - - 13 10 * - - - 29 8 12 5 - -
> $10MM * 14 16 * - - - - * * * * * - - * - -

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 * - - 95.9 97.8 99.7 - - - 94.8 95.7 99.1 - - - 73.6 95.2 99.9 * * *
Weighted Avg. Price * - - 95.8 98.5 99.7 - - - 94.8 97.2 99.1 - - - 80.6 96.1 99.9 * * *
Avg. Price Bottom 5 Trades * - - 91.9 86.1 96.3 - - - 88.4 75.8 94.0 - - - 0.5 84.3 96.7 * * *
2nd Quartile Price * - - 94.3 98.6 99.3 - - - 94.0 96.0 97.8 - - - 76.5 94.9 99.0 * * *
3rd Quartile Price * - - 96.6 99.5 100.0 - - - 95.3 99.4 99.5 - - - 81.3 97.5 100.2 * * *
4th Quartile Price * - - 97.9 100.0 100.3 - - - 97.1 100.0 100.5 - - - 94.1 99.6 100.6 * * *
Avg. Price Top 5 Trades * - - 99.0 100.2 102.1 - - - 98.5 101.1 102.5 - - - 97.3 100.1 102.8 * * *
Standard Deviation * - - 2.5 4.6 1.1 - - - 3.2 8.7 2.0 - - - 31.6 5.6 1.5 * * *
VOLUME OF TRADES (000'S) * - - 152,547.8 235,390.9 846,484.4 - - - 113,312.8 82,266.4 265,723.8 - - - 322,900.4 148,714.0 467,724.3 * * *
Customer Buy * - - 68,750.9 96,508.3 380,339.0 - - - 69,524.6 50,658.6 128,539.4 - - - 157,447.9 48,178.2 257,962.3 * * *
Customer Sell * - - 83,796.9 117,920.0 396,177.8 - - - 43,788.2 21,411.8 84,814.4 - - - 145,833.0 49,661.2 197,368.0 * * *
Dealer to Dealer - - - - 20,962.7 69,967.6 - - - - 10,196.0 52,370.0 - - - 19,619.5 50,874.6 12,394.0 - - -
<= $1MM * - - 3,860.8 7,569.0 21,594.4 - - - 8,946.0 13,827.8 19,260.5 - - - 5,819.9 2,105.0 8,501.0 - - -
<= $10MM - - - 56,827.0 80,622.8 416,209.3 - - - 104,366.8 68,438.5 148,107.3 - - - 206,498.5 115,238.4 339,815.3 - * *
> $10MM - - - 91,860.0 147,199.1 408,680.6 - - - - - 98,356.0 - - - 110,582.0 * 119,408.0 * - -
NUMBER OF TRADES * - - 28 46 155 - - - 40 49 100 - - - 66 31 97 * * *
Customer Buy * - - 13 12 72 - - - 22 19 55 - - - 32 11 55 * * *
Customer Sell * - - 15 28 72 - - - 18 21 37 - - - 28 14 36 * * *
Dealer to Dealer - - - - 6 11 - - - - 9 8 - - - 6 6 6 - - -
<= $1MM * - - 9 18 50 - - - 16 35 38 - - - 9 5 20 - - -
<= $10MM - - - 14 19 85 - - - 24 14 54 - - - 51 24 70 - * *
> $10MM - - - 5 9 20 - - - - - 8 - - - 6 * 7 * - -

* 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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