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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 06/29/2026 to 07/02/2026

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 96.2 86.9 83.2 95.5 99.7 98.2 98.1 3.2 * - - * * *
Weighted Avg. Price 97.5 87.3 91.4 98.3 98.9 99.2 97.8 1.4 * - - * * *
Avg. Price Bottom 5 Trades 77.9 76.7 68.0 88.7 92.2 88.9 96.7 0.5 * - - * * *
2nd Quartile Price 96.0 87.6 73.4 94.3 99.5 98.6 97.5 2.3 * - - * * *
3rd Quartile Price 98.3 88.6 90.3 96.4 100.2 99.1 98.0 4.1 * - - * * *
4th Quartile Price 98.8 92.0 94.8 99.5 101.0 99.5 99.0 5.3 * - - * * *
Avg. Price Top 5 Trades 99.8 92.7 98.0 100.6 102.4 100.7 99.8 5.7 * - - * * *
Standard Deviation 5.0 8.4 14.7 5.0 3.3 6.3 0.9 2.2 * - - * * *
VOLUME OF TRADES (000'S) 224,443.6 21,764.8 13,133.1 34,433.8 40,024.3 117,150.0 455,766.5 793,614.0 * - - * * *
Customer Buy 71,563.3 19,274.6 11,124.7 22,882.4 24,372.5 104,786.2 365,315.8 339,526.7 * - - * * *
Customer Sell 136,127.8 * 1,779.3 10,430.1 14,496.1 2,432.0 * 454,087.3 * - - * - -
Dealer to Dealer 16,752.6 2,489.8 229.2 1,121.3 1,155.8 9,931.8 63,842.7 - - - - - - *
<= $1MM 16,169.1 2,917.0 3,198.1 3,742.8 6,633.2 895.2 8,354.8 1,880.7 - - - - - -
<= $10MM 74,904.7 18,847.8 * * 18,544.3 45,815.6 92,634.2 * * - - - - -
> $10MM 133,369.8 - - * * * 354,777.5 779,120.0 * - - * * *
NUMBER OF TRADES 115 17 29 19 72 57 46 22 * - - * * *
Customer Buy 38 11 14 8 17 16 35 9 * - - * * *
Customer Sell 53 * 9 5 36 26 * 13 * - - * - -
Dealer to Dealer 24 5 6 6 19 15 7 - - - - - - *
<= $1MM 88 11 27 14 63 45 15 9 - - - - - -
<= $10MM 22 6 * * 8 9 17 * * - - - - -
> $10MM 5 - - * * * 14 10 * - - * * *

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 98.0 89.5 94.6 104.7 103.0 104.0 *
Weighted Avg. Price 98.3 89.8 99.0 105.5 103.1 104.4 *
Avg. Price Bottom 5 Trades 92.6 89.2 92.9 103.8 101.0 102.6 *
2nd Quartile Price 98.2 89.3 92.5 104.7 101.9 104.0 *
3rd Quartile Price 98.6 89.8 96.5 105.5 103.5 104.7 *
4th Quartile Price 98.8 90.6 103.4 109.3 104.2 104.9 *
Avg. Price Top 5 Trades 99.6 89.9 95.5 105.6 104.5 104.9 *
Standard Deviation 1.8 0.8 4.8 2.9 1.6 1.2 *
VOLUME OF TRADES (000'S) 165,372.7 13,162.4 5,058.8 20,985.0 31,159.4 36,644.4 *
Customer Buy 78,194.5 * * * 8,835.4 4,798.8 -
Customer Sell 87,103.2 * * * 22,324.0 31,845.6 *
Dealer to Dealer * - - - - - -
<= $1MM 26,573.6 1,512.4 2,058.8 * 2,447.0 4,740.0 -
<= $10MM 125,956.0 * * 20,855.0 28,712.4 31,904.4 *
> $10MM * - - - - - -
NUMBER OF TRADES 103 7 6 6 16 14 *
Customer Buy 38 * * * 6 5 -
Customer Sell 64 * * * 10 9 *
Dealer to Dealer * - - - - - -
<= $1MM 67 5 5 * 5 7 -
<= $10MM 35 * * 5 11 7 *
> $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 96.7 102.1 - * - 87.4 * 102.1 - - - 72.1 * 99.9 - - *
Weighted Avg. Price 98.0 97.7 102.2 - * - 89.2 * 102.1 - - - 71.6 * 99.8 - - *
Avg. Price Bottom 5 Trades 89.1 89.1 100.1 - * - 78.9 * 102.1 - - - 10.7 * 99.9 - - *
2nd Quartile Price 97.7 92.4 101.2 - * - 83.6 * * - - - 61.5 * * - - *
3rd Quartile Price 98.8 100.0 102.3 - * - 86.3 * * - - - 88.0 * * - - *
4th Quartile Price 99.4 102.5 102.7 - * - 93.0 * * - - - 90.8 * * - - *
Avg. Price Top 5 Trades 99.7 102.9 103.7 - * - 97.8 * 102.1 - - - 98.7 * 99.9 - - *
Standard Deviation 2.8 5.8 1.0 - * - 6.5 * 0.9 - - - 29.4 * 2.6 - - *
VOLUME OF TRADES (000'S) 144,646.4 31,274.6 212,227.9 - * - 75,595.8 * 15,623.0 - - - 158,565.3 * 12,727.8 - - *
Customer Buy 81,581.5 19,889.6 104,594.9 - * - 42,874.5 * * - - - 76,377.3 * * - - *
Customer Sell 62,914.9 11,385.0 100,318.0 - - - 32,280.3 * * - - - 78,870.3 * * - - *
Dealer to Dealer * - * - - - 441.0 - - - - - 3,317.7 - - - - -
<= $1MM 14,075.7 1,360.0 16,199.9 - - - 4,423.1 - * - - - 5,560.7 * * - - -
<= $10MM 64,983.8 29,914.6 87,509.0 - * - 71,172.7 * * - - - 122,904.5 * * - - -
> $10MM * - 108,519.0 - - - - - - - - - * - - - - *
NUMBER OF TRADES 86 19 88 - * - 44 * 5 - - - 70 * 5 - - *
Customer Buy 34 7 44 - * - 19 * * - - - 23 * * - - *
Customer Sell 51 12 43 - - - 17 * * - - - 29 * * - - *
Dealer to Dealer * - * - - - 8 - - - - - 18 - - - - -
<= $1MM 63 10 59 - - - 29 - * - - - 40 * * - - -
<= $10MM 19 9 22 - * - 15 * * - - - 28 * * - - -
> $10MM * - 7 - - - - - - - - - * - - - - *

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 - - - 94.6 98.9 100.0 - - - 90.6 97.3 99.9 - - - 87.3 96.4 99.9 * - -
Weighted Avg. Price - - - 90.7 98.3 100.0 - - - 91.5 97.1 99.9 - - - 84.1 96.9 100.0 * - -
Avg. Price Bottom 5 Trades - - - 90.3 93.5 96.4 - - - 87.6 90.2 95.7 - - - 65.8 92.0 95.1 * - -
2nd Quartile Price - - - 93.4 98.5 99.8 - - - 89.0 96.3 99.7 - - - 82.5 96.3 100.0 * - -
3rd Quartile Price - - - 96.8 99.8 100.1 - - - 89.9 99.0 100.3 - - - 91.9 99.0 100.2 * - -
4th Quartile Price - - - 98.5 100.0 100.3 - - - 93.3 100.0 100.5 - - - 94.3 99.8 100.5 * - -
Avg. Price Top 5 Trades - - - 98.4 102.0 101.9 - - - 94.0 100.6 102.0 - - - 98.9 99.7 102.1 * - -
Standard Deviation - - - 4.9 2.7 0.9 - - - 3.8 4.8 1.5 - - - 12.1 5.0 1.6 * - -
VOLUME OF TRADES (000'S) - - - 18,048.6 80,368.5 589,229.8 - - - 65,071.4 76,586.8 247,580.1 - - - 151,896.0 33,151.5 402,356.1 * - -
Customer Buy - - - * 51,162.5 281,692.7 - - - 10,453.7 40,244.7 150,763.7 - - - 72,677.1 18,351.5 170,227.1 * - -
Customer Sell - - - 17,048.6 29,206.0 275,317.1 - - - 49,779.0 33,354.1 96,816.4 - - - 69,219.0 14,800.0 226,129.0 * - -
Dealer to Dealer - - - - - 32,220.0 - - - * * - - - - * - * - - -
<= $1MM - - - 4,903.8 6,883.3 32,638.6 - - - - 2,302.0 10,366.9 - - - * * 8,289.1 - - -
<= $10MM - - - * 60,685.3 245,885.8 - - - 31,719.5 74,284.8 214,707.2 - - - 110,596.0 30,151.5 262,945.2 * - -
> $10MM - - - - * 310,705.4 - - - * - * - - - * - 131,121.8 * - -
NUMBER OF TRADES - - - 12 31 168 - - - 12 25 75 - - - 32 12 81 * - -
Customer Buy - - - * 14 91 - - - 5 12 48 - - - 16 7 34 * - -
Customer Sell - - - 11 17 72 - - - 6 12 27 - - - 14 5 45 * - -
Dealer to Dealer - - - - - 5 - - - * * - - - - * - * - - -
<= $1MM - - - 8 17 81 - - - - 5 26 - - - * * 12 - - -
<= $10MM - - - * 13 69 - - - 10 20 47 - - - 27 9 60 * - -
> $10MM - - - - * 18 - - - * - * - - - * - 9 * - -

* 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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