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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 03/23/2026 to 03/27/2026

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 94.4 85.2 91.2 99.0 100.0 99.2 97.8 2.1 * - - * - *
Weighted Avg. Price 96.7 84.8 91.2 98.7 99.5 99.6 98.2 2.8 * - - * - *
Avg. Price Bottom 5 Trades 75.4 75.1 83.4 94.5 93.7 88.9 89.8 - * - - * - *
2nd Quartile Price 92.9 80.2 89.0 98.1 99.2 99.0 97.6 0.9 * - - * - *
3rd Quartile Price 96.8 88.1 90.2 99.8 100.3 99.7 98.9 1.9 * - - * - *
4th Quartile Price 98.6 88.7 94.8 101.0 101.5 100.3 99.9 3.4 * - - * - *
Avg. Price Top 5 Trades 100.1 94.5 98.8 101.6 102.8 102.9 100.9 5.4 * - - * - *
Standard Deviation 6.0 6.4 4.7 2.6 2.3 2.6 3.3 1.6 * - - * - *
VOLUME OF TRADES (000'S) 1,220,986.7 137,331.5 248,614.6 206,186.4 141,347.1 485,092.2 675,093.2 493,726.6 * - - * - *
Customer Buy 321,449.9 69,165.6 91,792.3 65,613.1 78,696.9 210,559.1 307,230.8 175,867.9 * - - * - *
Customer Sell 624,115.5 20,199.2 63,341.5 22,586.6 43,085.5 186,187.6 298,757.3 315,808.7 * - - * - -
Dealer to Dealer 275,421.2 47,966.6 93,480.8 117,986.6 19,564.7 88,345.5 69,105.1 * - - - - - *
<= $1MM 33,760.1 4,687.1 7,229.3 6,697.4 6,259.4 8,256.9 6,041.6 5,691.3 - - - - - -
<= $10MM 301,919.6 64,912.3 72,792.3 53,309.0 87,465.5 231,001.3 90,994.0 102,299.9 * - - - - -
> $10MM 885,306.9 * 168,593.0 * * 245,834.0 578,057.6 385,735.5 * - - * - *
NUMBER OF TRADES 343 38 43 34 83 147 42 50 * - - * - *
Customer Buy 103 16 14 13 28 45 21 23 * - - * - *
Customer Sell 135 12 17 14 35 64 14 25 * - - * - -
Dealer to Dealer 105 10 12 7 20 38 7 * - - - - - *
<= $1MM 225 18 15 16 62 93 9 18 - - - - - -
<= $10MM 79 18 21 14 19 43 14 23 * - - - - -
> $10MM 39 * 7 * * 11 19 9 * - - * - *

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 97.0 89.4 96.8 102.6 103.6 103.3 -
Weighted Avg. Price 97.6 89.4 95.6 103.4 103.5 103.0 -
Avg. Price Bottom 5 Trades 88.7 89.1 93.2 100.7 103.0 101.6 -
2nd Quartile Price 94.8 89.2 92.4 100.6 102.9 103.2 -
3rd Quartile Price 98.5 90.0 94.9 100.9 103.4 103.8 -
4th Quartile Price 99.1 90.1 104.0 104.6 104.7 104.2 -
Avg. Price Top 5 Trades 99.7 89.8 99.5 103.8 104.1 104.4 -
Standard Deviation 3.1 0.8 5.3 3.0 0.9 1.3 -
VOLUME OF TRADES (000'S) 312,149.7 56,006.6 12,624.0 12,375.0 8,404.0 117,050.0 -
Customer Buy 153,251.0 * * * - 43,533.0 -
Customer Sell 158,883.6 * 10,984.0 7,100.0 8,404.0 56,017.0 -
Dealer to Dealer * - - - - * -
<= $1MM 26,440.5 * * * 1,134.0 * -
<= $10MM 186,232.1 * * 12,220.0 * 81,654.0 -
> $10MM 99,477.1 * - - - * -
NUMBER OF TRADES 111 7 8 8 8 18 -
Customer Buy 41 * * * - 5 -
Customer Sell 69 * 6 5 8 11 -
Dealer to Dealer * - - - - * -
<= $1MM 63 * * * 5 * -
<= $10MM 42 * * 7 * 13 -
> $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 98.3 102.5 3.5 * * 92.0 * 94.9 * - - 76.0 * 99.5 2.2 - -
Weighted Avg. Price 97.8 96.5 102.8 3.0 * * 93.1 * 94.7 * - - 73.4 * 100.7 2.1 - -
Avg. Price Bottom 5 Trades 89.9 88.6 99.3 2.7 * * 82.7 * 87.0 * - - 15.1 * 92.8 1.6 - -
2nd Quartile Price 97.4 94.4 101.8 2.5 * * 89.2 * 96.3 * - - 77.2 * 99.6 1.6 - -
3rd Quartile Price 98.7 102.3 102.7 2.6 * * 94.8 * 98.7 * - - 85.0 * 102.1 2.0 - -
4th Quartile Price 99.5 104.4 103.4 5.1 * * 96.5 * 100.7 * - - 92.3 * 102.9 3.1 - -
Avg. Price Top 5 Trades 99.8 104.6 104.5 4.1 * * 97.4 * 100.8 * - - 96.0 * 103.4 2.6 - -
Standard Deviation 2.7 6.3 1.2 1.5 * * 4.9 * 8.1 * - - 25.2 * 6.1 0.8 - -
VOLUME OF TRADES (000'S) 393,913.4 93,111.6 298,508.8 201,560.4 * * 59,554.4 * 7,239.0 * - - 202,775.5 * 73,577.5 139,516.5 - -
Customer Buy 196,776.4 32,368.7 171,385.7 * - * 27,575.2 * * * - - 102,974.4 * 39,273.4 - - -
Customer Sell 149,091.5 60,742.9 123,963.1 118,620.2 * - 31,968.2 * 2,227.0 * - - 96,798.1 * 34,304.1 139,516.5 - -
Dealer to Dealer * - * * - - * - - - - - 3,003.1 - - - - -
<= $1MM 13,669.9 6,906.6 18,024.3 - - - 5,222.0 * 687.0 - - - 6,110.1 * * - - -
<= $10MM 180,559.7 44,826.3 140,094.5 * * * 54,332.4 * * * - - 196,665.4 * 71,584.8 * - -
> $10MM 199,683.7 * 140,390.0 192,652.9 * - - - - * - - - - - 130,153.0 - -
NUMBER OF TRADES 93 27 107 8 * * 43 * 13 * - - 70 * 18 8 - -
Customer Buy 33 14 56 * - * 22 * * * - - 32 * 10 - - -
Customer Sell 58 13 49 5 * - 20 * 9 * - - 31 * 8 8 - -
Dealer to Dealer * - * * - - * - - - - - 7 - - - - -
<= $1MM 39 15 50 - - - 25 * 9 - - - 25 * * - - -
<= $10MM 46 9 49 * * * 18 * * * - - 45 * 16 * - -
> $10MM 8 * 8 6 * - - - - * - - - - - 7 - -

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 - - - 96.4 98.0 99.9 * * - 92.7 96.8 99.6 - * - 78.3 91.2 99.6 * - -
Weighted Avg. Price - - - 96.6 96.1 100.0 * * - 94.3 96.2 99.7 - * - 80.9 87.2 99.2 * - -
Avg. Price Bottom 5 Trades - - - 92.1 87.5 94.6 * * - 82.5 84.2 95.2 - * - 23.8 44.6 88.7 * - -
2nd Quartile Price - - - 94.7 98.5 99.8 * * - 90.8 96.5 99.0 - * - 69.5 96.3 99.5 * - -
3rd Quartile Price - - - 96.3 99.5 100.0 * * - 94.3 98.9 99.9 - * - 90.0 98.5 99.9 * - -
4th Quartile Price - - - 98.6 100.2 100.2 * * - 95.9 100.0 100.1 - * - 95.3 99.3 100.3 * - -
Avg. Price Top 5 Trades - - - 100.4 103.3 102.2 * * - 98.6 100.9 103.6 - * - 99.1 101.6 103.9 * - -
Standard Deviation - - - 2.9 4.6 1.0 * * - 4.9 5.1 1.4 - * - 25.3 19.1 2.5 * - -
VOLUME OF TRADES (000'S) - - - 73,830.5 98,758.5 1,195,482.6 * * - 135,973.3 168,128.0 398,654.8 - * - 164,240.1 158,149.4 394,638.2 * - -
Customer Buy - - - 39,886.0 44,507.2 550,926.6 * - - 68,485.1 56,378.7 205,297.2 - - - 79,486.7 71,650.6 239,050.3 - - -
Customer Sell - - - 33,944.5 44,051.3 631,131.1 * * - 64,400.1 80,200.8 181,349.6 - * - 84,742.2 86,498.8 152,587.9 * - -
Dealer to Dealer - - - - * * - - - * 31,548.5 12,008.0 - - - * - * - - -
<= $1MM - - - 4,491.7 14,290.0 53,091.7 * - - 7,110.4 13,087.7 35,636.7 - - - 6,099.0 8,309.1 18,557.3 - - -
<= $10MM - - - 69,338.8 73,810.8 567,875.6 - * - 117,163.0 90,125.8 257,653.1 - * - 118,513.5 121,840.2 364,780.9 * - -
> $10MM - - - - * 574,515.4 - - - * 64,914.5 105,365.0 - - - * * * - - -
NUMBER OF TRADES - - - 32 66 294 * * - 60 64 198 - * - 51 42 138 * - -
Customer Buy - - - 15 21 122 * - - 26 22 88 - - - 27 17 73 - - -
Customer Sell - - - 17 43 170 * * - 32 37 105 - * - 23 25 64 * - -
Dealer to Dealer - - - - * * - - - * 5 5 - - - * - * - - -
<= $1MM - - - 15 41 135 * - - 19 35 120 - - - 21 19 50 - - -
<= $10MM - - - 17 24 128 - * - 40 24 71 - * - 28 21 87 * - -
> $10MM - - - - * 31 - - - * 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.

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