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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 09/07/2026 to 09/11/2026

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 92.1 77.8 87.0 88.5 96.3 97.6 96.6 * * * - - * 5.5
Weighted Avg. Price 87.4 73.8 82.1 83.7 81.7 95.9 96.9 * * * - - * 3.3
Avg. Price Bottom 5 Trades 66.7 65.1 73.0 76.4 80.1 93.7 90.4 * * * - - * 4.4
2nd Quartile Price 87.0 70.5 85.8 78.5 97.8 97.3 95.1 * * * - - * 6.3
3rd Quartile Price 95.5 72.1 87.0 93.4 98.9 97.8 95.9 * * * - - * 6.4
4th Quartile Price 98.4 86.6 94.5 98.7 99.9 98.3 97.8 * * * - - * 6.7
Avg. Price Top 5 Trades 99.9 96.5 96.6 100.3 101.2 99.9 103.0 * * * - - * 6.6
Standard Deviation 8.0 10.4 8.2 10.2 6.7 1.6 3.4 * * * - - * 2.2
VOLUME OF TRADES (000'S) 1,636,673.0 598,070.2 662,445.2 1,880,521.8 1,080,939.7 253,181.5 972,322.8 * * * - - * 2,018,636.5
Customer Buy 328,912.8 24,320.6 169,424.6 304,251.3 9,928.3 213,016.0 597,382.3 * * * - - * 1,748,938.7
Customer Sell 1,203,886.1 557,666.7 477,650.6 1,568,592.5 1,060,390.8 29,017.5 174,001.4 - * * - - * *
Dealer to Dealer 103,874.1 16,083.0 15,370.0 * 10,620.7 11,148.0 200,939.1 * - * - - - *
<= $1MM 28,609.7 2,655.6 4,379.7 2,608.3 5,480.1 5,210.0 6,173.0 * - - - - - -
<= $10MM 381,337.4 68,652.8 45,737.3 15,318.2 34,162.5 30,798.0 131,023.9 * * - - - - -
> $10MM 1,226,725.9 526,761.9 612,328.1 1,862,595.3 1,041,297.1 217,173.5 835,125.9 - * * - - * 2,018,636.5
NUMBER OF TRADES 279 42 32 54 101 82 62 * * * - - * 12
Customer Buy 83 14 12 15 15 27 37 * * * - - * 10
Customer Sell 129 19 14 35 59 34 13 - * * - - * *
Dealer to Dealer 67 9 6 * 27 21 12 * - * - - - *
<= $1MM 145 16 10 11 69 67 12 * - - - - - -
<= $10MM 84 13 9 6 16 10 23 * * - - - - -
> $10MM 50 13 13 37 16 5 27 - * * - - * 12

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 96.6 87.2 95.8 101.1 99.9 99.3 *
Weighted Avg. Price 96.5 87.3 95.9 101.1 100.8 100.6 *
Avg. Price Bottom 5 Trades 90.1 86.2 94.5 101.1 99.2 97.4 *
2nd Quartile Price 94.1 86.7 94.5 * 99.1 97.9 *
3rd Quartile Price 98.2 87.9 101.7 * 100.4 98.9 *
4th Quartile Price 98.6 88.3 102.3 * 100.8 101.1 *
Avg. Price Top 5 Trades 99.3 88.2 96.8 101.1 100.6 101.5 *
Standard Deviation 2.7 1.1 5.1 0.5 1.2 1.8 *
VOLUME OF TRADES (000'S) 207,394.1 23,120.0 7,805.0 20,425.0 5,427.0 3,312.0 *
Customer Buy 89,367.8 * * * * * -
Customer Sell 113,026.4 22,235.0 * * * 2,167.0 *
Dealer to Dealer * - - - * 238.0 *
<= $1MM 9,267.2 * * - 1,877.0 3,312.0 *
<= $10MM 156,446.9 22,210.0 * 20,425.0 * - -
> $10MM * - - - - - -
NUMBER OF TRADES 90 11 6 5 8 16 *
Customer Buy 38 * * * * * -
Customer Sell 51 8 * * * 7 *
Dealer to Dealer * - - - * 5 *
<= $1MM 48 * * - 6 16 *
<= $10MM 39 7 * 5 * - -
> $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 96.2 94.7 100.4 1.1 * * 91.5 92.2 85.7 1.1 - - 57.3 - * - - -
Weighted Avg. Price 92.2 91.5 100.5 1.2 * * 91.5 93.3 84.5 1.5 - - 33.6 - * - - -
Avg. Price Bottom 5 Trades 88.7 89.3 98.3 0.3 * * 85.0 89.7 75.7 1.1 - - 7.1 - * - - -
2nd Quartile Price 95.0 89.9 99.6 0.5 * * 90.9 91.8 86.4 * - - 16.1 - * - - -
3rd Quartile Price 97.7 94.2 100.4 0.7 * * 93.0 92.1 86.9 * - - 80.8 - * - - -
4th Quartile Price 98.3 99.1 101.2 2.3 * * 95.5 98.5 89.0 * - - 89.5 - * - - -
Avg. Price Top 5 Trades 99.4 100.3 102.1 2.2 * * 96.0 94.6 92.5 1.1 - - 95.0 - * - - -
Standard Deviation 3.3 4.8 1.0 1.0 * * 4.5 5.0 6.5 1.0 - - 37.5 - * - - -
VOLUME OF TRADES (000'S) 249,059.0 106,736.6 497,195.9 667,837.6 * * 42,611.8 10,833.8 70,262.0 139,854.9 - - 119,062.5 - * - - -
Customer Buy 132,288.8 40,482.0 250,182.6 281,583.7 * - 25,382.4 * 36,473.0 * - - 52,942.1 - * - - -
Customer Sell 116,770.2 66,254.6 236,529.2 386,253.9 * * 17,229.4 * 33,789.0 * - - 65,938.7 - * - - -
Dealer to Dealer - - 10,484.0 - - - - - - - - - 181.7 - - - - -
<= $1MM 9,996.3 2,017.6 11,419.0 - - * 1,604.4 * * * - - 326.3 - * - - -
<= $10MM 52,062.7 19,719.0 170,124.0 * - - 41,007.4 8,833.8 69,639.0 - - - 78,276.1 - - - - -
> $10MM * * 315,652.9 662,908.3 * - - - - * - - * - - - - -
NUMBER OF TRADES 55 16 128 14 * * 20 7 23 5 - - 26 - * - - -
Customer Buy 26 9 56 5 * - 12 * 13 * - - 10 - * - - -
Customer Sell 29 7 54 9 * * 8 * 10 * - - 11 - * - - -
Dealer to Dealer - - 18 - - - - - - - - - 5 - - - - -
<= $1MM 36 7 76 - - * 8 * * * - - 11 - * - - -
<= $10MM 15 5 38 * - - 12 5 22 - - - 13 - - - - -
> $10MM * * 14 13 * - - - - * - - * - - - - -

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 99.4 99.1 - - - 87.8 91.4 98.5 - - - 86.9 86.5 99.8 - - -
Weighted Avg. Price - - - 95.7 99.5 99.1 - - - 86.9 90.8 98.9 - - - 84.3 82.5 99.5 - - -
Avg. Price Bottom 5 Trades - - - 90.7 95.9 95.1 - - - 76.3 75.3 93.8 - - - 72.4 63.4 96.5 - - -
2nd Quartile Price - - - 92.5 99.4 98.2 - - - 87.1 89.2 97.3 - - - 80.7 64.3 99.3 - - -
3rd Quartile Price - - - 96.1 100.0 99.8 - - - 88.6 95.5 98.6 - - - 89.8 99.5 100.1 - - -
4th Quartile Price - - - 97.0 100.7 100.1 - - - 92.3 98.7 100.2 - - - 93.9 100.0 100.5 - - -
Avg. Price Top 5 Trades - - - 97.6 100.9 100.4 - - - 94.9 99.8 100.7 - - - 95.3 100.0 102.0 - - -
Standard Deviation - - - 4.2 2.0 1.4 - - - 5.5 9.5 1.9 - - - 8.6 17.0 1.4 - - -
VOLUME OF TRADES (000'S) - - - 73,095.0 87,758.9 769,290.9 - - - 179,022.9 86,909.2 230,802.5 - - - 130,562.1 86,186.5 237,530.5 - - -
Customer Buy - - - 31,869.0 33,658.6 359,175.4 - - - 78,092.5 37,092.1 120,996.6 - - - 63,077.0 41,997.0 99,258.0 - - -
Customer Sell - - - 41,226.0 54,100.3 352,523.6 - - - 100,930.4 49,732.1 90,271.0 - - - 67,485.1 44,189.5 138,272.5 - - -
Dealer to Dealer - - - - - 57,592.0 - - - - * 19,535.0 - - - - - - - - -
<= $1MM - - - - 4,000.0 20,601.2 - - - * 7,563.3 14,316.7 - - - * 8,265.0 8,680.0 - - -
<= $10MM - - - 49,629.0 56,844.1 378,084.8 - - - 114,012.1 79,345.9 192,485.8 - - - 85,052.0 77,921.5 228,850.5 - - -
> $10MM - - - * * 370,604.9 - - - 63,441.8 - * - - - * - - - - -
NUMBER OF TRADES - - - 12 29 156 - - - 38 37 84 - - - 28 35 70 - - -
Customer Buy - - - 6 13 85 - - - 21 16 42 - - - 14 15 32 - - -
Customer Sell - - - 6 16 66 - - - 17 20 34 - - - 14 20 38 - - -
Dealer to Dealer - - - - - 5 - - - - * 8 - - - - - - - - -
<= $1MM - - - - 7 48 - - - * 15 35 - - - * 17 14 - - -
<= $10MM - - - 10 20 87 - - - 30 22 47 - - - 21 18 56 - - -
> $10MM - - - * * 21 - - - 5 - * - - - * - - - - -

* 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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