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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 08/31/2026 to 09/04/2026

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 95.0 87.4 88.5 97.7 98.5 97.5 95.3 * * - - - - *
Weighted Avg. Price 96.8 90.6 93.3 98.0 99.5 96.6 96.1 * * - - - - *
Avg. Price Bottom 5 Trades 55.3 74.9 68.7 94.4 94.4 90.5 80.6 * * - - - - *
2nd Quartile Price 94.4 86.0 88.1 96.0 98.0 97.1 95.0 * * - - - - *
3rd Quartile Price 98.4 88.4 93.0 98.3 99.0 98.1 96.4 * * - - - - *
4th Quartile Price 98.9 92.7 94.4 100.1 99.7 98.6 98.1 * * - - - - *
Avg. Price Top 5 Trades 99.9 97.7 96.3 100.3 101.2 100.0 100.3 * * - - - - *
Standard Deviation 7.8 7.4 10.7 2.1 2.1 2.7 5.2 * * - - - - *
VOLUME OF TRADES (000'S) 833,550.3 488,692.2 98,896.3 38,152.7 83,171.4 103,565.2 676,616.6 * * - - - - *
Customer Buy 402,787.9 150,564.8 14,412.0 21,609.8 5,584.6 65,037.2 337,880.4 - * - - - - *
Customer Sell 316,705.4 233,960.5 79,484.3 12,890.8 10,562.7 33,909.0 114,174.1 - - - - - - -
Dealer to Dealer 114,057.0 104,167.0 * * 67,024.0 4,619.0 224,562.1 * - - - - - *
<= $1MM 41,044.5 2,552.3 8,651.4 10,341.1 4,239.0 6,775.9 8,212.8 - - - - - - -
<= $10MM 393,889.1 108,219.5 30,244.8 27,811.6 18,343.1 27,014.2 127,519.6 - * - - - - -
> $10MM 398,616.7 377,920.3 * - * * 540,884.2 * * - - - - *
NUMBER OF TRADES 294 59 32 34 48 71 67 * * - - - - *
Customer Buy 143 18 14 18 13 23 40 - * - - - - *
Customer Sell 99 27 17 12 21 31 7 - - - - - - -
Dealer to Dealer 52 14 * * 14 17 20 * - - - - - *
<= $1MM 174 17 21 25 39 58 14 - - - - - - -
<= $10MM 104 21 9 9 6 9 29 - * - - - - -
> $10MM 16 21 * - * * 24 * * - - - - *

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 88.3 98.2 103.6 101.3 101.5 101.3
Weighted Avg. Price 97.8 88.6 99.8 104.2 102.1 101.7 102.2
Avg. Price Bottom 5 Trades 88.0 88.1 97.3 102.8 100.6 100.9 100.8
2nd Quartile Price 96.3 88.0 97.0 102.5 100.4 101.7 100.6
3rd Quartile Price 98.3 89.0 101.9 103.9 102.2 102.6 101.2
4th Quartile Price 98.7 89.3 102.7 107.2 103.0 102.6 102.8
Avg. Price Top 5 Trades 99.3 88.4 99.7 104.2 102.1 102.3 101.7
Standard Deviation 3.1 0.6 4.8 1.8 1.7 1.5 1.0
VOLUME OF TRADES (000'S) 236,293.8 17,365.0 22,690.0 31,933.0 34,210.5 29,780.0 26,336.0
Customer Buy 108,606.6 * 19,190.0 16,270.0 21,510.5 * *
Customer Sell 126,727.3 * * * * * *
Dealer to Dealer * - - - - - -
<= $1MM 21,183.6 * * * * - *
<= $10MM 102,910.3 * * * 23,738.0 29,780.0 *
> $10MM 112,200.0 * - - * - -
NUMBER OF TRADES 88 6 6 7 7 8 7
Customer Buy 48 * 5 5 5 * *
Customer Sell 36 * * * * * *
Dealer to Dealer * - - - - - -
<= $1MM 53 * * * * - *
<= $10MM 29 * * * 5 8 *
> $10MM 6 * - - * - -

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 96.4 100.9 1.0 * - 90.3 89.6 100.2 - - - 73.7 * - - - -
Weighted Avg. Price 97.5 94.2 100.9 0.9 * - 88.5 94.0 100.2 - - - 68.3 * - - - -
Avg. Price Bottom 5 Trades 91.8 87.6 98.9 0.7 * - 73.3 82.2 98.3 - - - 38.9 * - - - -
2nd Quartile Price 97.4 92.9 99.9 0.7 * - 85.5 85.4 99.3 - - - 67.9 * - - - -
3rd Quartile Price 98.6 98.4 101.1 0.8 * - 95.8 87.9 100.2 - - - 80.8 * - - - -
4th Quartile Price 99.0 101.3 101.6 2.1 * - 96.8 100.2 101.7 - - - 91.9 * - - - -
Avg. Price Top 5 Trades 99.6 102.4 102.7 1.5 * - 97.2 97.6 102.1 - - - 95.2 * - - - -
Standard Deviation 2.3 5.4 1.0 0.6 * - 9.4 8.9 1.3 - - - 22.5 * - - - -
VOLUME OF TRADES (000'S) 118,688.4 128,447.5 450,369.9 476,290.3 * - 42,894.4 40,986.0 62,044.0 - - - 82,101.5 * - - - -
Customer Buy 49,545.3 54,942.2 249,981.2 235,693.9 - - 23,023.2 20,500.0 29,677.0 - - - 39,615.1 - - - - -
Customer Sell 69,093.1 70,885.3 199,748.7 240,596.4 * - 19,221.2 20,486.0 32,267.0 - - - 39,263.2 * - - - -
Dealer to Dealer * * * - - - * - * - - - 3,223.2 - - - - -
<= $1MM 9,233.1 5,154.1 13,163.9 - - - 7,472.4 * 4,784.0 - - - 496.5 - - - - -
<= $10MM 44,289.3 58,293.4 252,956.0 * - - 35,422.0 16,378.0 57,260.0 - - - 81,605.0 * - - - -
> $10MM * * 184,250.0 470,577.2 * - - * - - - - - - - - - -
NUMBER OF TRADES 51 33 132 15 * - 27 11 29 - - - 40 * - - - -
Customer Buy 24 17 70 6 - - 14 5 14 - - - 13 - - - - -
Customer Sell 26 13 58 9 * - 11 6 14 - - - 17 * - - - -
Dealer to Dealer * * * - - - * - * - - - 10 - - - - -
<= $1MM 30 17 62 - - - 14 * 9 - - - 15 - - - - -
<= $10MM 17 13 58 * - - 13 7 20 - - - 25 * - - - -
> $10MM * * 12 14 * - - * - - - - - - - - - -

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 * - - 95.4 97.2 99.1 - - - 89.3 92.0 98.5 - - - 79.0 93.8 99.9 - * -
Weighted Avg. Price * - - 96.7 98.2 99.1 - - - 84.2 93.2 98.2 - - - 82.6 95.7 99.8 - * -
Avg. Price Bottom 5 Trades * - - 90.8 87.5 94.1 - - - 79.0 71.9 93.3 - - - 41.6 72.3 95.3 - * -
2nd Quartile Price * - - 93.1 94.7 98.4 - - - 86.6 86.7 97.4 - - - 80.8 95.3 99.3 - * -
3rd Quartile Price * - - 98.0 99.5 99.8 - - - 96.0 97.9 99.3 - - - 86.5 97.5 100.1 - * -
4th Quartile Price * - - 98.7 100.0 100.2 - - - 96.6 99.1 100.2 - - - 91.2 99.3 100.7 - * -
Avg. Price Top 5 Trades * - - 99.0 101.1 101.1 - - - 97.1 99.8 100.9 - - - 95.1 100.3 104.5 - * -
Standard Deviation * - - 3.5 4.6 1.6 - - - 10.6 10.4 2.2 - - - 19.4 10.6 2.1 - * -
VOLUME OF TRADES (000'S) * - - 111,265.1 71,414.8 849,905.2 - - - 32,017.8 188,062.0 196,853.5 - - - 83,220.9 85,685.3 511,003.3 - * -
Customer Buy - - - 56,464.9 33,459.3 426,898.1 - - - 13,779.6 63,721.8 104,058.2 - - - 31,155.8 36,512.1 276,683.0 - * -
Customer Sell * - - 50,900.1 37,955.5 319,356.1 - - - 12,660.7 114,340.3 77,295.3 - - - 41,263.1 49,173.1 220,270.3 - - -
Dealer to Dealer - - - * - 103,651.0 - - - * * * - - - * - * - - -
<= $1MM * - - 3,596.2 10,042.8 18,298.3 - - - * 14,094.2 10,088.9 - - - 1,022.9 7,926.8 9,755.0 - * -
<= $10MM - - - 37,780.5 49,260.9 408,024.7 - - - 30,367.5 54,097.8 146,717.6 - - - 82,198.0 77,758.4 284,258.2 - - -
> $10MM - - - * * 423,582.2 - - - - 119,870.0 * - - - - - 216,990.0 - - -
NUMBER OF TRADES * - - 21 36 154 - - - 16 49 77 - - - 29 33 102 - * -
Customer Buy - - - 13 19 89 - - - 6 22 44 - - - 10 15 55 - * -
Customer Sell * - - 6 17 55 - - - 9 26 30 - - - 16 18 43 - - -
Dealer to Dealer - - - * - 10 - - - * * * - - - * - * - - -
<= $1MM * - - 8 22 41 - - - * 26 31 - - - 9 15 18 - * -
<= $10MM - - - 9 13 88 - - - 12 18 44 - - - 20 18 77 - - -
> $10MM - - - * * 25 - - - - 5 * - - - - - 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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