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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
Pricing Table: Agency CMBS by Deal Vintage
METRIC AGENCY CMBS (P&I) AGENCY CMBS (IO/PO) AGENCY CMBS (P&I) AGENCY CMBS (IO/PO)
PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025
AVERAGE PRICE 96.9 - 98.3 82.9 101.0 - - -
Weighted Avg. Price 100.1 - 99.1 95.8 101.2 - - -
Avg. Price Bottom 5 Trades 76.1 - 94.4 76.1 100.0 - - -
2nd Quartile Price 98.8 - 98.9 76.3 100.6 - - -
3rd Quartile Price 99.5 - 99.3 78.3 101.1 - - -
4th Quartile Price 100.7 - 99.5 98.0 101.3 - - -
Avg. Price Top 5 Trades 102.3 - 99.8 88.7 102.3 - - -
Standard Deviation 7.6 - 3.4 10.0 1.0 - - -
VOLUME OF TRADES (000'S) 143,557.9 - 52,574.8 8,294.0 82,689.0 - - -
Customer Buy 75,178.9 - 27,618.9 * 42,535.0 - - -
Customer Sell 395.0 - * - 109.0 - - -
Dealer to Dealer 67,983.9 - 24,669.9 3,269.0 40,045.0 - - -
<= $1MM 2,103.8 - 1,605.7 269.0 229.0 - - -
<= $10MM 69,554.1 - 50,969.1 * * - - -
> $10MM * - - - * - - -
NUMBER OF TRADES 58 - 29 9 20 - - -
Customer Buy 20 - 12 * 6 - - -
Customer Sell 11 - * - 9 - - -
Dealer to Dealer 27 - 15 7 5 - - -
<= $1MM 29 - 10 6 13 - - -
<= $10MM 25 - 19 * * - - -
> $10MM * - - - * - - -

Pricing Table: CMBS Conduit by Deal Vintage
METRIC NON-AGENCY CMBS (P&I) NON-AGENCY CMBS (IO/PO) CONDUIT AAA LCF (P&I) 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-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025
AVERAGE PRICE 98.1 - - - - * - * - - - * - - - - - - - - - - -
Weighted Avg. Price 103.0 - - - - * - * - - - * - - - - - - - - - - -
Avg. Price Bottom 5 Trades 95.7 - - - - * - * - - - * - - - - - - - - - - -
2nd Quartile Price 99.9 - - - - * - * - - - * - - - - - - - - - - -
3rd Quartile Price 100.1 - - - - * - * - - - * - - - - - - - - - - -
4th Quartile Price 103.2 - - - - * - * - - - * - - - - - - - - - - -
Avg. Price Top 5 Trades 101.4 - - - - * - * - - - * - - - - - - - - - - -
Standard Deviation 5.7 - - - - * - * - - - * - - - - - - - - - - -
VOLUME OF TRADES (000'S) 14,962.7 - - - - * - * - - - * - - - - - - - - - - -
Customer Buy 14,410.8 - - - - - - * - - - * - - - - - - - - - - -
Customer Sell * - - - - * - - - - - - - - - - - - - - - - -
Dealer to Dealer - - - - - - - - - - - - - - - - - - - - - - -
<= $1MM 762.7 - - - - * - - - - - * - - - - - - - - - - -
<= $10MM * - - - - - - * - - - - - - - - - - - - - - -
> $10MM - - - - - - - - - - - - - - - - - - - - - - -
NUMBER OF TRADES 10 - - - - * - * - - - * - - - - - - - - - - -
Customer Buy 7 - - - - - - * - - - * - - - - - - - - - - -
Customer Sell * - - - - * - - - - - - - - - - - - - - - - -
Dealer to Dealer - - - - - - - - - - - - - - - - - - - - - - -
<= $1MM 8 - - - - * - - - - - * - - - - - - - - - - -
<= $10MM * - - - - - - * - - - - - - - - - - - - - - -
> $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-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025 PRE-2020 2020-2022 2023-2025
AVERAGE PRICE - - - - * * - - - - - * - - - - - - - - -
Weighted Avg. Price - - - - * * - - - - - * - - - - - - - - -
Avg. Price Bottom 5 Trades - - - - * * - - - - - * - - - - - - - - -
2nd Quartile Price - - - - * * - - - - - * - - - - - - - - -
3rd Quartile Price - - - - * * - - - - - * - - - - - - - - -
4th Quartile Price - - - - * * - - - - - * - - - - - - - - -
Avg. Price Top 5 Trades - - - - * * - - - - - * - - - - - - - - -
Standard Deviation - - - - * * - - - - - * - - - - - - - - -
VOLUME OF TRADES (000'S) - - - - * * - - - - - * - - - - - - - - -
Customer Buy - - - - * * - - - - - * - - - - - - - - -
Customer Sell - - - - * * - - - - - - - - - - - - - - -
Dealer to Dealer - - - - - - - - - - - - - - - - - - - - -
<= $1MM - - - - * * - - - - - * - - - - - - - - -
<= $10MM - - - - - - - - - - - - - - - - - - - - -
> $10MM - - - - - - - - - - - - - - - - - - - - -
NUMBER OF TRADES - - - - * * - - - - - * - - - - - - - - -
Customer Buy - - - - * * - - - - - * - - - - - - - - -
Customer Sell - - - - * * - - - - - - - - - - - - - - -
Dealer to Dealer - - - - - - - - - - - - - - - - - - - - -
<= $1MM - - - - * * - - - - - * - - - - - - - - -
<= $10MM - - - - - - - - - - - - - - - - - - - - -
> $10MM - - - - - - - - - - - - - - - - - - - - -

* Indicates trade count is less than 5
† Includes Unrated Securities
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.

Should you have any questions, please call TRACE Data Services at 888-507-3665 or email [email protected].
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