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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 07/06/2026 to 07/10/2026

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 95.9 82.4 90.2 99.1 97.3 98.4 97.0 3.4 * 1.9 * - 3.8 *
Weighted Avg. Price 97.0 83.9 96.8 100.3 94.4 98.7 97.0 2.8 * 1.7 * - 3.3 *
Avg. Price Bottom 5 Trades 82.3 71.2 76.8 94.3 75.0 94.9 86.5 3.4 * 1.5 * - 3.8 *
2nd Quartile Price 93.5 73.2 87.7 100.0 97.3 98.1 97.0 * * 1.5 * - * *
3rd Quartile Price 98.0 76.0 90.9 100.2 99.4 98.5 97.7 * * 1.8 * - * *
4th Quartile Price 98.8 96.5 99.8 100.4 100.6 99.1 98.3 * * 3.3 * - * *
Avg. Price Top 5 Trades 99.7 97.9 100.2 100.9 102.4 101.1 100.2 3.4 * 2.4 * - 3.8 *
Standard Deviation 4.2 11.8 8.6 4.3 6.6 1.5 3.1 0.7 * 0.8 * - 2.2 *
VOLUME OF TRADES (000'S) 416,148.0 32,898.3 147,622.8 97,876.6 134,702.5 120,884.2 1,053,024.0 254,618.4 * 1,405,634.1 * - 756,781.1 *
Customer Buy 230,856.8 14,648.5 68,612.3 49,277.7 57,150.4 83,475.4 627,186.1 * * 658,024.3 * - 558,529.2 *
Customer Sell 121,246.7 12,767.3 14,639.6 48,553.1 41,668.3 13,845.9 * * - 747,609.8 * - - -
Dealer to Dealer 64,044.5 * 64,370.8 * 35,883.8 23,562.9 225,711.9 - - - - - * -
<= $1MM 33,079.5 * 3,907.8 7,790.4 4,875.3 7,901.8 3,775.5 * - - - - - -
<= $10MM 166,949.4 32,184.2 57,306.4 * 92,442.5 57,942.9 249,817.8 - - * - - - -
> $10MM 216,119.1 - * * * * 799,430.7 * * 1,398,682.0 * - 756,781.1 *
NUMBER OF TRADES 210 19 37 33 103 92 81 6 * 10 * - 7 *
Customer Buy 74 7 16 16 24 30 53 * * 5 * - 6 *
Customer Sell 77 9 13 16 41 35 * * - 5 * - - -
Dealer to Dealer 59 * 8 * 38 27 24 - - - - - * -
<= $1MM 140 * 13 29 76 72 11 * - - - - - -
<= $10MM 59 15 20 * 25 17 49 - - * - - - -
> $10MM 11 - * * * * 21 * * 9 * - 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 89.0 98.9 105.1 102.3 103.1 -
Weighted Avg. Price 98.4 88.5 101.9 104.7 102.4 103.5 -
Avg. Price Bottom 5 Trades 67.8 88.3 93.4 104.4 101.7 103.1 -
2nd Quartile Price 98.0 88.7 94.0 104.8 101.5 * -
3rd Quartile Price 98.5 88.8 102.7 105.6 103.3 * -
4th Quartile Price 98.8 89.8 104.0 108.9 103.7 * -
Avg. Price Top 5 Trades 99.6 89.8 104.0 105.7 102.8 103.1 -
Standard Deviation 8.2 0.8 5.4 2.3 1.2 1.2 -
VOLUME OF TRADES (000'S) 567,190.8 41,480.2 44,838.0 29,744.0 8,851.0 5,230.0 -
Customer Buy 255,887.5 34,195.2 20,595.0 * * * -
Customer Sell 293,588.9 * 19,013.0 * * * -
Dealer to Dealer 17,714.3 - * - - - -
<= $1MM 32,298.7 1,825.0 3,735.0 * * * -
<= $10MM 178,219.9 28,115.2 * * * * -
> $10MM 356,672.1 * * - - - -
NUMBER OF TRADES 164 13 12 6 7 5 -
Customer Buy 55 10 5 * * * -
Customer Sell 103 * 6 * * * -
Dealer to Dealer 6 - * - - - -
<= $1MM 88 5 6 * * * -
<= $10MM 60 7 * * * * -
> $10MM 16 * * - - - -

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 97.7 98.8 101.3 - * - 89.4 * 96.6 * - - 76.9 * 101.2 - - *
Weighted Avg. Price 97.3 97.6 101.7 - * - 90.5 * 96.3 * - - 77.0 * 100.6 - - *
Avg. Price Bottom 5 Trades 90.0 90.2 99.2 - * - 81.0 * 89.0 * - - 25.4 * 99.4 - - *
2nd Quartile Price 97.7 97.3 100.4 - * - 85.2 * 91.4 * - - 70.0 * 100.3 - - *
3rd Quartile Price 98.5 101.2 101.6 - * - 88.6 * 100.3 * - - 86.5 * 102.2 - - *
4th Quartile Price 99.1 103.2 102.3 - * - 94.9 * 101.4 * - - 93.0 * 102.6 - - *
Avg. Price Top 5 Trades 99.8 103.4 103.3 - * - 97.8 * 102.0 * - - 98.5 * 102.4 - - *
Standard Deviation 2.3 4.9 1.2 - * - 5.6 * 5.8 * - - 23.5 * 1.5 - - *
VOLUME OF TRADES (000'S) 138,953.2 80,146.2 141,406.4 - * - 104,097.8 * 53,400.0 * - - 224,393.8 * 54,964.7 - - *
Customer Buy 79,773.8 71,105.1 89,764.5 - * - 39,196.1 * 30,151.0 - - - 103,390.9 * 28,490.0 - - *
Customer Sell 54,269.3 8,931.3 34,475.9 - - - 64,356.7 * 23,249.0 * - - 111,815.5 - 24,754.7 - - *
Dealer to Dealer 4,910.1 * 17,166.0 - - - 545.0 - - - - - 9,187.4 - * - - -
<= $1MM 36,297.0 2,880.1 28,780.9 - - - 5,264.8 - 4,621.0 * - - 1,107.1 - 5,500.0 - - -
<= $10MM 71,956.5 41,766.0 88,175.0 - * - 98,833.0 * 48,779.0 - - - 175,897.7 * 26,604.7 - - *
> $10MM * * * - - - - - - - - - * - * - - -
NUMBER OF TRADES 131 26 97 - * - 47 * 17 * - - 63 * 14 - - *
Customer Buy 43 10 45 - * - 15 * 10 - - - 26 * 6 - - *
Customer Sell 79 14 37 - - - 23 * 7 * - - 24 - 6 - - *
Dealer to Dealer 9 * 15 - - - 9 - - - - - 13 - * - - -
<= $1MM 102 13 68 - - - 22 - 6 * - - 19 - 7 - - -
<= $10MM 27 11 27 - * - 25 * 11 - - - 40 * 5 - - *
> $10MM * * * - - - - - - - - - * - * - - -

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 - - - 94.3 98.3 99.5 - - - 95.3 93.7 99.9 - - - 77.8 94.8 100.0 - - -
Weighted Avg. Price - - - 94.5 96.2 99.7 - - - 95.8 91.3 100.2 - - - 83.6 97.2 100.3 - - -
Avg. Price Bottom 5 Trades - - - 90.7 89.4 95.5 - - - 90.4 80.9 95.3 - - - 41.3 82.0 93.2 - - -
2nd Quartile Price - - - 92.5 99.2 99.1 - - - 94.2 90.2 99.8 - - - 73.0 94.3 99.6 - - -
3rd Quartile Price - - - 95.0 99.6 100.1 - - - 96.3 97.6 100.3 - - - 80.8 98.8 100.3 - - -
4th Quartile Price - - - 98.5 100.6 100.3 - - - 99.1 99.4 100.6 - - - 97.0 99.1 100.7 - - -
Avg. Price Top 5 Trades - - - 98.4 101.4 101.5 - - - 99.2 100.1 102.1 - - - 99.5 99.6 105.3 - - -
Standard Deviation - - - 4.0 4.9 1.3 - - - 3.8 6.8 1.3 - - - 20.5 7.4 1.9 - - -
VOLUME OF TRADES (000'S) - - - 56,855.0 163,319.5 683,024.3 - - - 87,236.5 109,562.4 467,374.3 - - - 194,994.4 80,356.0 922,107.3 - - -
Customer Buy - - - 28,375.0 108,788.9 331,726.9 - - - 38,568.8 37,944.2 206,742.9 - - - 103,454.1 38,059.9 385,394.3 - - -
Customer Sell - - - 28,480.0 54,530.6 298,097.3 - - - 44,691.1 71,618.1 243,501.4 - - - 77,288.6 42,296.1 517,472.9 - - -
Dealer to Dealer - - - - - 53,200.0 - - - * - * - - - 14,251.7 - 19,240.0 - - -
<= $1MM - - - 3,275.0 3,193.7 39,968.5 - - - 3,663.9 7,739.8 15,671.5 - - - 4,949.1 2,311.7 16,611.3 - - -
<= $10MM - - - 23,580.0 52,711.0 398,515.9 - - - 49,882.6 101,822.6 380,645.6 - - - 157,825.7 41,063.2 677,696.0 - - -
> $10MM - - - * * 244,539.8 - - - * - 71,057.2 - - - * * 227,800.0 - - -
NUMBER OF TRADES - - - 15 33 208 - - - 22 38 147 - - - 65 24 215 - - -
Customer Buy - - - 7 17 100 - - - 10 15 81 - - - 31 11 94 - - -
Customer Sell - - - 8 16 99 - - - 11 23 62 - - - 26 13 114 - - -
Dealer to Dealer - - - - - 9 - - - * - * - - - 8 - 7 - - -
<= $1MM - - - 7 12 101 - - - 9 16 48 - - - 20 7 34 - - -
<= $10MM - - - 6 17 92 - - - 10 22 93 - - - 43 15 169 - - -
> $10MM - - - * * 15 - - - * - 6 - - - * * 12 - - -

* 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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