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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 09/14/2026 to 09/18/2026

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 94.9 86.8 89.5 96.0 97.9 96.3 96.2 3.4 * * 1.7 - - -
Weighted Avg. Price 94.4 88.6 92.1 94.2 95.8 91.4 96.2 4.2 * * 1.7 - - -
Avg. Price Bottom 5 Trades 78.7 73.6 85.5 91.5 90.1 85.6 91.7 2.3 * * 1.7 - - -
2nd Quartile Price 93.3 87.3 87.2 93.4 97.3 96.4 94.6 3.2 * * * - - -
3rd Quartile Price 96.9 88.4 88.3 96.3 98.3 97.0 95.7 4.1 * * * - - -
4th Quartile Price 98.3 91.1 90.8 99.8 99.3 97.4 97.7 4.8 * * * - - -
Avg. Price Top 5 Trades 99.8 94.5 95.7 100.5 100.5 98.6 100.7 4.4 * * 1.7 - - -
Standard Deviation 5.0 7.7 3.9 3.4 2.5 2.6 2.8 1.4 * * - - - -
VOLUME OF TRADES (000'S) 1,345,764.9 279,426.6 110,666.2 336,400.3 170,106.7 109,118.6 678,153.9 285,051.8 * * 162,891.7 - - -
Customer Buy 584,946.3 134,486.6 45,720.2 91,600.9 95,601.7 46,688.3 134,691.7 * * - * - - -
Customer Sell 180,054.3 122,105.3 54,228.5 211,067.1 56,270.5 41,675.6 423,051.9 81,363.8 * * * - - -
Dealer to Dealer 580,764.3 * 10,717.5 33,732.3 18,234.5 20,754.7 120,410.3 * - - * - - -
<= $1MM 25,930.6 3,203.0 4,148.8 2,565.5 9,115.9 8,386.6 5,509.4 * - - - - - -
<= $10MM 203,270.2 37,927.7 45,099.0 31,543.0 45,968.0 52,322.0 56,793.6 23,934.6 - - * - - -
> $10MM 1,116,564.1 238,295.9 * 302,291.8 115,022.8 * 615,850.9 260,513.0 * * * - - -
NUMBER OF TRADES 217 31 28 31 123 129 49 11 * * 5 - - -
Customer Buy 51 13 10 10 20 14 18 * * - * - - -
Customer Sell 112 14 13 15 62 63 21 8 * * * - - -
Dealer to Dealer 54 * 5 6 41 52 10 * - - * - - -
<= $1MM 138 9 15 14 105 116 13 * - - - - - -
<= $10MM 64 9 11 7 12 10 15 5 - - * - - -
> $10MM 15 13 * 10 6 * 21 5 * * * - - -

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 95.0 87.3 * 101.1 100.6 99.8 97.1
Weighted Avg. Price 95.3 87.7 * 100.7 100.9 99.6 101.0
Avg. Price Bottom 5 Trades 81.8 86.3 * 100.2 99.8 98.2 94.1
2nd Quartile Price 92.4 86.4 * 100.4 100.6 99.5 95.5
3rd Quartile Price 98.1 87.9 * 100.8 100.8 100.2 97.5
4th Quartile Price 98.3 88.2 * 102.2 101.2 100.7 101.0
Avg. Price Top 5 Trades 99.5 88.3 * 102.1 101.2 100.9 100.5
Standard Deviation 4.7 1.0 * 1.5 0.7 1.0 3.0
VOLUME OF TRADES (000'S) 316,973.1 26,560.0 * 52,317.9 88,275.3 58,870.0 8,669.0
Customer Buy 165,960.6 * - 20,035.0 36,665.3 27,446.0 *
Customer Sell 136,213.9 19,075.0 * 32,282.9 51,610.0 31,424.0 4,273.0
Dealer to Dealer 14,798.6 - - - - - 156.0
<= $1MM 13,775.3 * * 3,410.0 * 3,668.0 2,069.0
<= $10MM 245,984.2 24,810.0 * * 49,211.3 44,437.0 *
> $10MM * - - * * * -
NUMBER OF TRADES 129 12 * 11 19 23 14
Customer Buy 49 * - 5 11 10 *
Customer Sell 70 10 * 6 8 13 6
Dealer to Dealer 10 - - - - - 5
<= $1MM 53 * * 5 * 12 12
<= $10MM 72 9 * * 13 10 *
> $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 97.4 98.8 99.8 * * * 95.2 83.7 89.2 - - - 72.6 90.0 98.7 - - -
Weighted Avg. Price 97.3 97.6 100.5 * * * 94.2 92.8 87.9 - - - 67.6 86.6 98.8 - - -
Avg. Price Bottom 5 Trades 90.9 93.0 96.2 * * * 88.4 69.4 74.3 - - - 1.8 83.0 96.5 - - -
2nd Quartile Price 96.9 98.6 98.9 * * * 93.7 94.1 84.0 - - - 66.8 84.0 97.3 - - -
3rd Quartile Price 98.0 100.6 100.1 * * * 95.8 95.4 90.9 - - - 85.5 88.1 100.0 - - -
4th Quartile Price 99.0 101.5 100.8 * * * 98.3 100.3 96.4 - - - 96.2 99.7 100.1 - - -
Avg. Price Top 5 Trades 99.5 102.4 101.9 * * * 99.1 98.0 99.9 - - - 98.8 97.9 99.6 - - -
Standard Deviation 2.1 4.3 1.3 * * * 3.5 24.6 8.5 - - - 31.9 8.1 2.0 - - -
VOLUME OF TRADES (000'S) 241,391.7 30,623.7 427,500.2 * * * 88,162.9 28,844.4 124,933.0 - - - 355,322.0 21,755.1 32,158.1 - - -
Customer Buy 68,834.9 3,452.5 221,514.7 - * * 41,675.2 * 59,302.0 - - - 168,349.3 10,877.6 17,644.7 - - -
Customer Sell 172,454.2 27,171.2 203,403.4 * - - 46,023.8 13,321.4 59,131.0 - - - 173,162.8 6,377.6 14,513.4 - - -
Dealer to Dealer * - 2,582.0 - - - * - * - - - * * - - - -
<= $1MM 12,042.7 6,674.9 16,489.0 - - - 9,446.5 * 5,311.0 - - - 4,494.7 3,784.7 2,480.0 - - -
<= $10MM 160,663.9 23,948.8 223,742.2 * - * 78,716.4 28,046.0 119,622.0 - - - 282,276.9 17,970.4 29,678.1 - - -
> $10MM 68,685.2 - 187,269.0 - * - - - - - - - * - - - - -
NUMBER OF TRADES 79 18 188 * * * 42 10 55 - - - 88 12 12 - - -
Customer Buy 25 5 92 - * * 19 * 24 - - - 43 6 7 - - -
Customer Sell 53 13 84 * - - 21 6 28 - - - 41 5 5 - - -
Dealer to Dealer * - 12 - - - * - * - - - * * - - - -
<= $1MM 36 13 122 - - - 17 * 10 - - - 14 6 5 - - -
<= $10MM 38 5 58 * - * 25 8 45 - - - 70 6 7 - - -
> $10MM 5 - 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 - - - 95.4 98.5 98.9 - - - 90.2 93.7 98.6 - - - 76.6 90.2 99.3 * - -
Weighted Avg. Price - - - 94.1 99.5 98.7 - - - 91.2 97.0 98.6 - - - 80.9 92.0 98.6 * - -
Avg. Price Bottom 5 Trades - - - 91.3 90.8 93.2 - - - 75.9 74.1 92.1 - - - 11.2 60.9 93.0 * - -
2nd Quartile Price - - - 91.5 99.3 97.7 - - - 86.2 86.4 97.4 - - - 79.0 84.7 98.4 * - -
3rd Quartile Price - - - 97.1 100.0 99.8 - - - 92.3 98.3 99.9 - - - 90.9 97.6 100.1 * - -
4th Quartile Price - - - 98.7 100.2 100.2 - - - 97.7 100.0 100.4 - - - 97.5 100.0 100.5 * - -
Avg. Price Top 5 Trades - - - 99.0 101.2 100.7 - - - 99.3 100.6 101.4 - - - 99.6 100.6 102.5 * - -
Standard Deviation - - - 3.2 4.1 1.7 - - - 8.2 9.2 2.4 - - - 30.0 15.6 2.0 * - -
VOLUME OF TRADES (000'S) - - - 120,480.3 50,944.4 906,074.6 - - - 152,033.5 114,277.4 403,194.4 - - - 128,697.0 120,449.9 729,981.4 * - -
Customer Buy - - - 45,548.4 27,826.2 422,727.2 - - - 61,232.3 57,626.8 174,509.6 - - - 64,972.0 61,718.6 325,512.1 * - -
Customer Sell - - - 74,931.9 23,118.3 367,289.7 - - - 82,872.7 40,790.5 186,008.9 - - - 61,275.0 58,731.3 307,589.3 * - -
Dealer to Dealer - - - - - 116,057.7 - - - * * 42,676.0 - - - * - 96,880.0 - - -
<= $1MM - - - 2,253.2 8,136.3 23,546.4 - - - 6,192.5 8,104.6 22,678.2 - - - 3,433.7 * 20,411.2 - - -
<= $10MM - - - 51,696.6 20,879.0 516,991.3 - - - 94,327.0 106,172.8 294,136.2 - - - 114,597.7 88,661.9 502,803.1 * - -
> $10MM - - - * * 365,536.9 - - - * - 86,380.0 - - - * * 206,767.0 - - -
NUMBER OF TRADES - - - 22 32 205 - - - 44 55 145 - - - 37 28 170 * - -
Customer Buy - - - 9 15 94 - - - 20 26 66 - - - 17 14 83 * - -
Customer Sell - - - 13 17 86 - - - 22 25 72 - - - 17 14 77 * - -
Dealer to Dealer - - - - - 25 - - - * * 7 - - - * - 10 - - -
<= $1MM - - - 6 22 72 - - - 14 23 56 - - - 9 * 32 - - -
<= $10MM - - - 12 8 112 - - - 26 32 83 - - - 27 23 123 * - -
> $10MM - - - * * 21 - - - * - 6 - - - * * 15 - - -

* 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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