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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 07/27/2026 to 07/31/2026

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 95.4 84.0 82.3 97.1 99.1 98.2 95.2 7.0 5.7 * - - 3.6 *
Weighted Avg. Price 96.0 88.2 90.0 99.9 97.9 98.2 95.6 6.7 6.3 * - - 2.4 *
Avg. Price Bottom 5 Trades 78.5 69.6 48.3 83.0 92.2 93.6 81.7 3.5 5.2 * - - 1.7 *
2nd Quartile Price 93.1 74.0 84.7 97.0 98.5 97.9 95.3 5.3 5.3 * - - 1.9 *
3rd Quartile Price 97.4 87.4 89.0 99.9 99.7 98.6 97.0 8.6 6.5 * - - 3.0 *
4th Quartile Price 98.8 96.0 93.9 100.2 100.2 99.1 97.6 9.6 6.6 * - - 7.1 *
Avg. Price Top 5 Trades 100.5 98.3 96.5 101.5 101.7 100.4 99.6 10.5 6.5 * - - 5.5 *
Standard Deviation 5.0 11.0 17.3 7.0 2.3 1.6 5.4 3.6 1.2 * - - 2.6 *
VOLUME OF TRADES (000'S) 651,205.5 67,888.3 32,855.1 73,664.7 205,297.2 56,577.3 382,795.8 256,084.9 569,015.8 * - - 2,168,669.7 *
Customer Buy 318,395.2 34,665.2 15,849.1 46,172.3 35,122.0 17,918.3 191,444.4 127,112.5 * - - - * -
Customer Sell 269,002.9 22,009.3 7,189.6 14,317.5 93,832.0 35,539.0 130,496.5 128,972.4 352,263.6 * - - 1,895,188.3 *
Dealer to Dealer 63,807.4 11,213.7 9,816.5 13,175.0 76,343.1 3,120.0 60,854.9 - - - - - - -
<= $1MM 22,417.7 4,834.6 5,956.7 12,323.9 7,084.0 9,696.3 10,668.8 1,589.2 - * - - - -
<= $10MM 313,684.3 48,053.6 26,898.4 29,959.9 37,552.0 15,881.0 99,874.5 * * - - - - -
> $10MM 315,103.5 * - * 160,661.1 * 272,252.5 252,425.0 * - - - 2,168,669.7 *
NUMBER OF TRADES 229 33 31 44 84 93 46 13 8 * - - 10 *
Customer Buy 103 19 14 19 23 27 28 7 * - - - * -
Customer Sell 85 8 11 16 36 43 6 6 5 * - - 7 *
Dealer to Dealer 41 6 6 9 25 23 12 - - - - - - -
<= $1MM 114 18 25 32 67 87 18 6 - * - - - -
<= $10MM 98 14 6 11 10 5 17 * * - - - - -
> $10MM 17 * - * 7 * 11 6 * - - - 10 *

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 95.8 87.9 94.5 102.6 101.1 102.5 -
Weighted Avg. Price 96.3 88.3 98.2 101.3 100.9 103.4 -
Avg. Price Bottom 5 Trades 87.7 87.8 90.5 101.7 100.3 101.0 -
2nd Quartile Price 92.8 88.0 91.7 101.6 100.7 102.5 -
3rd Quartile Price 98.4 88.3 97.3 103.1 100.9 103.3 -
4th Quartile Price 98.8 88.4 100.1 104.3 101.3 103.5 -
Avg. Price Top 5 Trades 99.7 88.1 98.3 103.7 102.2 103.6 -
Standard Deviation 4.0 0.5 5.1 1.7 1.1 1.9 -
VOLUME OF TRADES (000'S) 238,897.3 1,590.0 31,549.3 19,268.0 72,208.0 51,439.0 -
Customer Buy 100,912.8 * 17,314.3 * 20,984.0 15,923.0 -
Customer Sell 131,752.5 * * 11,279.0 51,224.0 * -
Dealer to Dealer * - - - - * -
<= $1MM 11,370.4 245.0 * * 1,748.0 2,139.0 -
<= $10MM 158,528.1 * 31,014.3 * 30,460.0 * -
> $10MM 68,998.8 - - - * * -
NUMBER OF TRADES 79 6 9 8 15 13 -
Customer Buy 32 * 5 * 8 8 -
Customer Sell 43 * * 5 7 * -
Dealer to Dealer * - - - - * -
<= $1MM 36 5 * * 6 8 -
<= $10MM 37 * 5 * 7 * -
> $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 97.9 98.0 101.5 1.7 * * 90.8 87.2 101.6 * - - 77.7 75.9 * - - -
Weighted Avg. Price 96.9 95.7 101.5 0.9 * * 89.0 88.0 101.3 * - - 65.4 86.9 * - - -
Avg. Price Bottom 5 Trades 90.6 89.6 99.8 1.2 * * 80.8 87.2 100.9 * - - 13.3 67.1 * - - -
2nd Quartile Price 98.0 95.7 101.2 1.0 * * 88.4 * 101.1 * - - 74.8 76.5 * - - -
3rd Quartile Price 98.6 100.9 101.6 2.5 * * 92.0 * 101.6 * - - 89.2 88.2 * - - -
4th Quartile Price 99.2 102.2 102.0 2.5 * * 96.3 * 102.0 * - - 96.5 90.2 * - - -
Avg. Price Top 5 Trades 99.6 102.6 103.1 1.8 * * 98.6 87.2 102.1 * - - 98.4 88.0 * - - -
Standard Deviation 2.5 5.2 0.9 0.8 * * 5.9 15.0 0.7 * - - 26.6 19.6 * - - -
VOLUME OF TRADES (000'S) 105,389.8 44,075.5 209,339.3 522,778.9 * * 82,359.3 15,527.0 66,709.0 * - - 199,079.1 30,142.2 * - - -
Customer Buy 46,317.2 16,927.8 128,976.3 * * * 54,552.2 * 21,145.0 * - - 86,255.9 * * - - -
Customer Sell 53,652.7 27,047.7 80,363.0 * * * 27,760.2 * 45,464.0 - - - 95,543.2 * * - - -
Dealer to Dealer * * - * * - 46.8 - * - - - * * - - - -
<= $1MM 12,639.7 2,376.5 19,948.3 * * - 1,604.4 * * - - - 8,343.6 * * - - -
<= $10MM 66,604.8 41,699.0 117,455.0 * * * 53,204.9 * 47,909.0 - - - 168,175.5 28,942.2 * - - -
> $10MM * - 71,936.0 * - - * - * * - - * - - - - -
NUMBER OF TRADES 60 26 89 8 * * 39 5 12 * - - 66 8 * - - -
Customer Buy 23 10 42 * * * 24 * 5 * - - 31 * * - - -
Customer Sell 35 15 47 * * * 10 * 6 - - - 31 * * - - -
Dealer to Dealer * * - * * - 5 - * - - - * * - - - -
<= $1MM 33 14 61 * * - 22 * * - - - 17 * * - - -
<= $10MM 25 12 23 * * * 15 * 8 - - - 47 6 * - - -
> $10MM * - 5 * - - * - * * - - * - - - - -

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 - - - 95.8 95.8 99.6 - - - 93.7 91.6 99.5 - - - 75.2 80.7 99.6 - - -
Weighted Avg. Price - - - 96.1 96.2 99.9 - - - 95.7 88.5 99.2 - - - 90.4 83.9 99.7 - - -
Avg. Price Bottom 5 Trades - - - 92.2 88.0 94.6 - - - 86.8 66.7 96.0 - - - 23.9 60.3 91.9 - - -
2nd Quartile Price - - - 94.2 90.6 99.1 - - - 92.0 97.7 98.8 - - - 75.1 64.4 99.3 - - -
3rd Quartile Price - - - 97.7 99.9 99.9 - - - 94.2 100.1 100.1 - - - 88.9 95.8 100.0 - - -
4th Quartile Price - - - 98.0 100.6 100.2 - - - 99.3 100.7 100.3 - - - 94.8 99.2 100.5 - - -
Avg. Price Top 5 Trades - - - 98.2 101.1 101.6 - - - 99.9 100.8 102.0 - - - 99.2 100.0 103.1 - - -
Standard Deviation - - - 2.6 5.7 1.2 - - - 5.4 15.0 1.4 - - - 29.5 20.3 2.0 - - -
VOLUME OF TRADES (000'S) - - - 77,086.5 44,563.0 1,269,710.2 - - - 134,704.0 57,106.1 297,624.9 - - - 106,881.6 75,556.2 653,767.5 - - -
Customer Buy - - - 31,611.3 14,135.0 521,265.2 - - - 66,146.1 34,646.4 122,271.3 - - - 53,924.9 34,545.7 298,453.3 - - -
Customer Sell - - - 45,475.2 30,428.0 748,345.1 - - - 64,157.9 22,459.7 168,053.6 - - - 50,609.9 41,010.4 328,794.2 - - -
Dealer to Dealer - - - - - * - - - * - * - - - 2,346.8 - 26,520.0 - - -
<= $1MM - - - * 2,882.0 19,172.4 - - - 3,555.2 5,390.6 20,953.7 - - - 3,203.7 * 22,954.2 - - -
<= $10MM - - - 75,257.9 41,681.0 457,908.8 - - - 50,127.5 28,092.5 265,719.3 - - - 103,677.9 74,926.2 373,705.6 - - -
> $10MM - - - - - 792,629.1 - - - * * * - - - - - 257,107.7 - - -
NUMBER OF TRADES - - - 21 19 179 - - - 21 22 120 - - - 40 21 143 - - -
Customer Buy - - - 10 7 76 - - - 8 9 60 - - - 19 7 66 - - -
Customer Sell - - - 11 12 102 - - - 12 13 57 - - - 16 14 71 - - -
Dealer to Dealer - - - - - * - - - * - * - - - 5 - 6 - - -
<= $1MM - - - * 8 51 - - - 8 12 49 - - - 13 * 42 - - -
<= $10MM - - - 17 11 104 - - - 11 9 70 - - - 27 20 84 - - -
> $10MM - - - - - 24 - - - * * * - - - - - 17 - - -

* 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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