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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 03/09/2026 to 03/13/2026

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 94.8 77.6 87.7 99.6 99.0 97.2 95.3 5.4 6.2 - * 6.6 * *
Weighted Avg. Price 97.8 87.4 92.2 99.1 102.1 99.6 98.7 5.9 6.6 - * 7.4 * *
Avg. Price Bottom 5 Trades 46.3 34.2 56.8 93.6 74.9 75.4 71.1 3.5 5.7 - * 6.6 * *
2nd Quartile Price 94.6 74.8 87.9 98.0 100.1 98.3 97.1 4.6 6.1 - * * * *
3rd Quartile Price 98.2 81.9 90.3 100.4 101.0 100.5 99.1 6.0 6.5 - * * * *
4th Quartile Price 99.2 91.2 93.4 102.0 101.4 101.0 100.0 7.5 7.4 - * * * *
Avg. Price Top 5 Trades 100.0 99.1 99.4 102.5 103.8 102.7 100.9 7.3 6.7 - * 6.6 * *
Standard Deviation 9.3 20.4 11.3 2.9 6.9 7.6 8.6 1.7 1.1 - * 1.9 * *
VOLUME OF TRADES (000'S) 1,368,472.4 152,345.2 350,201.2 353,683.6 165,627.8 397,601.9 696,675.2 562,972.1 107,332.1 - * 172,447.4 * *
Customer Buy 448,058.9 40,091.1 147,887.4 7,400.2 42,988.8 158,917.7 358,768.0 208,982.6 * - * * * *
Customer Sell 545,070.8 74,901.5 160,439.0 296,209.9 114,443.4 195,581.1 180,473.4 353,989.5 97,415.0 - * * * -
Dealer to Dealer 375,342.7 37,352.6 41,874.8 50,073.5 8,195.5 43,103.1 157,433.8 - - - - - - *
<= $1MM 47,580.3 11,204.9 8,914.2 14,290.4 7,926.4 10,409.9 12,698.1 - - - - - - -
<= $10MM 438,745.3 66,708.8 90,285.0 51,627.2 33,045.8 119,728.7 123,403.2 * 34,097.2 - * - - -
> $10MM 882,146.8 74,431.5 251,002.0 287,766.1 * 267,463.3 560,573.9 552,979.3 * - * 172,447.4 * *
NUMBER OF TRADES 318 64 58 47 77 104 72 17 7 - * 5 * *
Customer Buy 104 25 20 9 17 36 42 6 * - * * * *
Customer Sell 147 22 29 26 42 47 14 11 6 - * * * -
Dealer to Dealer 67 17 9 12 18 21 16 - - - - - - *
<= $1MM 188 35 22 25 63 67 31 - - - - - - -
<= $10MM 92 24 28 13 11 28 20 * 5 - * - - -
> $10MM 38 5 8 9 * 9 21 15 * - * 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 97.6 89.7 96.1 105.8 104.0 104.3 *
Weighted Avg. Price 97.4 89.8 94.7 105.3 103.5 103.4 *
Avg. Price Bottom 5 Trades 88.7 89.4 91.4 103.6 101.2 102.2 *
2nd Quartile Price 97.8 89.1 92.8 104.8 102.5 104.1 *
3rd Quartile Price 98.6 90.2 96.5 105.9 105.1 104.9 *
4th Quartile Price 99.3 90.3 99.4 107.3 105.7 105.4 *
Avg. Price Top 5 Trades 100.0 90.2 101.7 108.2 106.3 105.7 *
Standard Deviation 2.7 0.7 4.6 1.9 2.1 1.3 *
VOLUME OF TRADES (000'S) 334,189.3 20,841.0 69,671.5 68,240.2 86,945.0 181,465.5 *
Customer Buy 135,227.5 * 23,374.0 4,956.8 59,918.0 99,310.5 *
Customer Sell 197,933.8 * 46,297.5 61,083.3 27,027.0 82,155.0 -
Dealer to Dealer 1,028.0 - - * - - -
<= $1MM 16,124.5 * 3,728.0 4,884.0 * 1,484.0 *
<= $10MM 228,150.7 20,100.0 54,712.5 48,356.2 42,044.0 23,000.0 -
> $10MM 89,914.1 - * * * 156,981.5 -
NUMBER OF TRADES 108 8 17 22 18 25 *
Customer Buy 39 * 6 5 10 14 *
Customer Sell 62 * 11 15 8 11 -
Dealer to Dealer 7 - - * - - -
<= $1MM 48 * 7 7 * 10 *
<= $10MM 53 5 9 14 11 8 -
> $10MM 7 - * * * 7 -

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 97.8 97.3 103.5 * - - 89.2 97.4 97.2 * - - 80.5 - 101.3 * - -
Weighted Avg. Price 97.3 97.5 103.5 * - - 87.2 96.1 97.3 * - - 71.8 - 102.0 * - -
Avg. Price Bottom 5 Trades 89.9 89.3 100.9 * - - 77.4 84.0 77.9 * - - 30.9 - 100.7 * - -
2nd Quartile Price 97.6 91.6 102.7 * - - 86.3 89.9 97.7 * - - 82.3 - 100.9 * - -
3rd Quartile Price 98.6 94.9 103.6 * - - 91.8 102.7 103.4 * - - 91.3 - 101.3 * - -
4th Quartile Price 99.2 104.3 104.4 * - - 95.7 104.6 105.0 * - - 93.5 - 102.1 * - -
Avg. Price Top 5 Trades 99.6 105.8 105.4 * - - 97.5 104.7 105.3 * - - 97.9 - 101.8 * - -
Standard Deviation 2.3 6.8 1.1 * - - 9.6 9.5 10.7 * - - 22.3 - 0.8 * - -
VOLUME OF TRADES (000'S) 258,738.6 119,415.2 401,814.4 * - - 57,295.7 29,803.1 82,656.0 * - - 218,506.7 - 31,315.5 * - -
Customer Buy 109,025.9 52,425.0 181,258.4 - - - 23,194.6 16,676.2 40,530.0 * - - 116,082.0 - 15,657.7 * - -
Customer Sell 149,456.0 66,990.2 220,503.0 * - - 34,101.1 13,126.9 37,516.0 * - - 102,011.7 - * * - -
Dealer to Dealer 256.6 - 53.0 - - - - - * - - - * - - - - -
<= $1MM 10,672.4 * 16,703.0 - - - 3,540.7 3,897.9 2,285.0 - - - 4,639.5 - 920.1 - - -
<= $10MM 171,477.4 61,558.8 212,769.4 - - - 53,755.0 25,905.2 80,371.0 - - - 186,765.6 - * - - -
> $10MM * * 172,342.0 * - - - - - * - - * - * * - -
NUMBER OF TRADES 118 23 122 * - - 23 18 27 * - - 59 - 9 * - -
Customer Buy 46 7 69 - - - 9 9 13 * - - 30 - 5 * - -
Customer Sell 61 16 48 * - - 14 9 13 * - - 27 - * * - -
Dealer to Dealer 11 - 5 - - - - - * - - - * - - - - -
<= $1MM 69 * 66 - - - 8 7 5 - - - 13 - 6 - - -
<= $10MM 45 16 46 - - - 15 11 22 - - - 44 - * - - -
> $10MM * * 10 * - - - - - * - - * - * * - -

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 - - - 96.6 98.7 100.6 - - - 96.3 93.3 100.2 * - - 72.7 97.6 100.1 - - -
Weighted Avg. Price - - - 97.5 98.0 100.8 - - - 97.0 93.7 100.4 * - - 83.6 97.8 100.3 - - -
Avg. Price Bottom 5 Trades - - - 92.2 92.9 97.8 - - - 89.0 75.2 97.1 * - - 36.6 87.9 96.6 - - -
2nd Quartile Price - - - 94.8 98.2 99.9 - - - 95.5 89.4 99.7 * - - 45.0 98.0 99.9 - - -
3rd Quartile Price - - - 97.0 99.5 100.1 - - - 97.0 98.1 100.2 * - - 81.0 98.8 100.2 - - -
4th Quartile Price - - - 99.1 100.3 101.2 - - - 98.7 99.0 100.7 * - - 91.6 99.8 100.4 - - -
Avg. Price Top 5 Trades - - - 99.5 103.1 105.5 - - - 99.5 100.1 103.8 * - - 99.6 101.2 103.4 - - -
Standard Deviation - - - 2.7 3.1 1.4 - - - 3.2 8.4 1.4 * - - 22.8 4.3 1.5 - - -
VOLUME OF TRADES (000'S) - - - 177,360.1 196,617.2 867,502.1 - - - 296,117.6 216,551.1 390,748.7 * - - 268,783.2 263,721.9 277,426.9 - - -
Customer Buy - - - 58,850.9 61,953.4 434,705.8 - - - 121,700.0 95,481.3 167,950.6 * - - 138,322.3 100,198.8 144,635.9 - - -
Customer Sell - - - 118,509.2 123,128.8 432,796.3 - - - 174,417.6 121,069.8 175,878.1 - - - 130,460.9 163,523.0 125,791.0 - - -
Dealer to Dealer - - - - * - - - - - - 46,920.0 - - - - - * - - -
<= $1MM - - - 2,558.9 6,751.7 37,535.2 - - - 8,316.7 12,122.3 19,113.2 - - - 13,817.5 * 7,000.0 - - -
<= $10MM - - - 110,333.2 156,780.1 416,735.1 - - - 95,720.9 170,598.8 247,761.5 - - - 184,597.7 163,521.1 226,928.8 - - -
> $10MM - - - * * 413,231.9 - - - 192,080.0 * 123,874.0 * - - * 98,850.7 * - - -
NUMBER OF TRADES - - - 32 51 180 - - - 49 64 114 * - - 81 40 68 - - -
Customer Buy - - - 11 21 89 - - - 23 31 60 * - - 48 16 34 - - -
Customer Sell - - - 21 27 91 - - - 26 33 48 - - - 33 24 32 - - -
Dealer to Dealer - - - - * - - - - - - 6 - - - - - * - - -
<= $1MM - - - 6 16 69 - - - 16 23 41 - - - 34 * 20 - - -
<= $10MM - - - 22 33 90 - - - 23 38 63 - - - 44 31 45 - - -
> $10MM - - - * * 21 - - - 10 * 10 * - - * 6 * - - -

* 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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