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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 05/25/2026 to 05/29/2026

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 81.0 89.8 96.8 97.2 98.0 97.1 5.0 * * - 5.4 5.5 22.0
Weighted Avg. Price 97.0 88.6 94.1 98.7 87.0 93.6 97.5 5.9 * * - 6.3 4.5 2.2
Avg. Price Bottom 5 Trades 78.5 71.8 79.1 88.0 73.8 88.3 87.1 3.2 * * - 4.3 4.7 22.0
2nd Quartile Price 92.0 71.7 87.7 96.2 96.9 98.2 97.1 6.4 * * - 4.3 4.3 *
3rd Quartile Price 97.0 80.3 92.8 98.7 99.5 99.1 97.8 6.4 * * - 7.9 6.4 *
4th Quartile Price 98.8 88.2 96.3 99.8 100.9 99.6 99.5 6.5 * * - 8.6 7.9 *
Avg. Price Top 5 Trades 99.9 93.3 98.2 100.9 102.5 101.0 101.9 6.9 * * - 6.6 6.5 22.0
Standard Deviation 5.2 8.8 9.1 4.8 6.9 3.2 4.6 3.1 * * - 2.7 2.4 42.4
VOLUME OF TRADES (000'S) 458,454.7 81,988.6 87,870.3 52,513.7 40,363.0 80,337.5 613,224.3 846,814.8 * * - 569,443.9 823,214.0 1,083,922.0
Customer Buy 335,983.6 60,251.9 75,207.7 20,934.1 10,182.6 65,006.0 359,010.2 * - - - * * *
Customer Sell 94,384.9 * 9,986.5 30,286.7 16,543.1 8,748.5 167,006.0 586,549.3 * * - * * -
Dealer to Dealer 28,086.2 20,941.3 2,676.1 1,293.0 13,637.3 6,583.0 87,208.1 * - - - - - *
<= $1MM 26,762.0 4,816.5 7,522.6 4,389.5 9,128.9 4,945.2 2,699.7 - - - - - - -
<= $10MM 136,587.0 52,565.3 * 48,124.2 31,234.0 35,392.3 50,109.3 * - - - - - *
> $10MM 295,105.7 * * - - * 560,415.4 842,964.3 * * - 569,443.9 823,214.0 *
NUMBER OF TRADES 180 32 31 39 98 91 37 9 * * - 7 8 5
Customer Buy 82 19 17 13 23 26 26 * - - - * * *
Customer Sell 56 * 7 11 38 37 6 5 * * - * * -
Dealer to Dealer 42 9 7 15 37 28 5 * - - - - - *
<= $1MM 129 21 25 27 87 76 5 - - - - - - -
<= $10MM 39 9 * 12 11 14 16 * - - - - - *
> $10MM 12 * * - - * 16 8 * * - 7 8 *

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 97.4 88.9 * * * 102.7 *
Weighted Avg. Price 98.0 88.4 * * * 102.6 *
Avg. Price Bottom 5 Trades 89.6 88.1 * * * 101.9 *
2nd Quartile Price 96.4 88.3 * * * 101.4 *
3rd Quartile Price 98.6 89.0 * * * 104.4 *
4th Quartile Price 99.0 90.0 * * * 104.7 *
Avg. Price Top 5 Trades 99.7 89.6 * * * 103.3 *
Standard Deviation 2.6 1.0 * * * 1.8 *
VOLUME OF TRADES (000'S) 263,513.6 13,195.7 * * * 7,477.2 *
Customer Buy 132,902.7 1,879.7 * * * * *
Customer Sell 130,520.8 11,316.0 * - * * *
Dealer to Dealer * - - - - - -
<= $1MM 22,674.3 1,725.7 * * * * *
<= $10MM 139,353.9 * * - * * *
> $10MM 101,485.4 - - - - - -
NUMBER OF TRADES 118 10 * * * 7 *
Customer Buy 38 5 * * * * *
Customer Sell 78 5 * - * * *
Dealer to Dealer * - - - - - -
<= $1MM 66 7 * * * * *
<= $10MM 46 * * - * * *
> $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 97.3 95.8 101.6 - - * 92.4 * 97.7 - - - 71.1 * 96.8 - * -
Weighted Avg. Price 98.9 99.3 102.0 - - * 95.7 * 93.2 - - - 54.2 * 98.0 - * -
Avg. Price Bottom 5 Trades 90.9 90.3 98.6 - - * 83.5 * 95.8 - - - 17.5 * 79.9 - * -
2nd Quartile Price 97.3 93.2 100.7 - - * 90.6 * 99.0 - - - 64.8 * 99.5 - * -
3rd Quartile Price 98.6 96.2 101.7 - - * 95.0 * 100.0 - - - 83.3 * 101.3 - * -
4th Quartile Price 99.1 101.3 102.9 - - * 97.2 * 101.8 - - - 90.1 * 102.3 - * -
Avg. Price Top 5 Trades 99.6 101.5 104.2 - - * 98.1 * 100.6 - - - 94.1 * 102.5 - * -
Standard Deviation 2.7 5.4 1.6 - - * 5.6 * 5.3 - - - 25.5 * 9.3 - * -
VOLUME OF TRADES (000'S) 216,209.7 23,788.7 215,757.0 - - * 57,669.1 * 3,562.0 - - - 102,514.9 * 254,358.0 - * -
Customer Buy 100,131.8 * 129,425.0 - - * 22,701.0 * 1,979.0 - - - 45,825.1 * 129,729.0 - - -
Customer Sell 115,807.9 5,395.8 84,771.0 - - - 34,968.1 * * - - - 56,656.3 - 124,629.0 - * -
Dealer to Dealer * - 1,561.0 - - - - - * - - - * - - - - -
<= $1MM 12,037.0 3,975.8 17,531.0 - - - 6,366.1 - 1,476.0 - - - 4,333.1 * - - - -
<= $10MM 88,959.4 * 80,227.0 - - * 51,303.0 * * - - - 98,181.8 - 98,708.0 - - -
> $10MM 115,213.3 * 117,999.0 - - - - - - - - - - - 155,650.0 - * -
NUMBER OF TRADES 62 13 106 - - * 43 * 9 - - - 35 * 28 - * -
Customer Buy 31 * 48 - - * 19 * 5 - - - 14 * 13 - - -
Customer Sell 30 9 40 - - - 24 * * - - - 18 - 15 - * -
Dealer to Dealer * - 18 - - - - - * - - - * - - - - -
<= $1MM 34 9 72 - - - 30 - 7 - - - 16 * - - - -
<= $10MM 23 * 27 - - * 13 * * - - - 19 - 23 - - -
> $10MM 5 * 7 - - - - - - - - - - - 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 - - - 94.5 97.1 99.9 - - - 91.1 95.2 99.7 - - - 79.0 96.7 100.7 - - 100.1
Weighted Avg. Price - - - 96.1 99.0 100.0 - - - 90.1 95.4 99.6 - - - 87.6 95.9 100.9 - - 100.1
Avg. Price Bottom 5 Trades - - - 89.3 88.8 95.7 - - - 78.2 80.2 94.9 - - - 43.9 94.4 98.5 - - 100.1
2nd Quartile Price - - - 91.8 98.7 99.8 - - - 88.8 96.3 98.9 - - - 80.0 94.3 100.2 - - *
3rd Quartile Price - - - 96.8 99.9 100.1 - - - 94.1 99.6 100.2 - - - 91.0 99.0 100.4 - - *
4th Quartile Price - - - 98.7 100.0 100.3 - - - 95.6 100.1 100.6 - - - 92.3 99.5 101.0 - - *
Avg. Price Top 5 Trades - - - 99.3 100.0 102.1 - - - 98.3 100.5 102.7 - - - 97.6 99.6 104.2 - - 100.1
Standard Deviation - - - 4.2 4.7 1.2 - - - 8.7 8.1 1.7 - - - 26.8 3.6 1.3 - - -
VOLUME OF TRADES (000'S) - - - 22,637.5 67,470.7 985,382.7 - - - 127,439.1 88,288.7 283,557.3 - - - 113,411.9 53,922.4 319,621.0 - - 39,118.0
Customer Buy - - - 10,978.3 28,325.2 440,286.4 - - - 78,498.9 40,312.9 128,110.7 - - - 51,935.2 33,814.9 181,809.0 - - -
Customer Sell - - - 10,925.3 38,970.5 505,325.9 - - - 47,554.2 47,975.8 124,021.6 - - - 58,207.2 20,107.4 120,812.0 - - 39,118.0
Dealer to Dealer - - - 734.0 * 39,770.4 - - - 1,386.0 - 31,425.0 - - - * - * - - -
<= $1MM - - - 4,724.5 6,486.5 25,371.1 - - - 6,379.7 3,110.5 13,572.6 - - - 6,430.5 * 3,627.0 - - -
<= $10MM - - - * 60,984.2 364,646.1 - - - 37,897.3 85,178.2 167,244.6 - - - 94,501.7 53,814.9 315,994.0 - - 27,118.0
> $10MM - - - - - 595,365.5 - - - * - 102,740.0 - - - * - - - - *
NUMBER OF TRADES - - - 23 26 162 - - - 34 31 93 - - - 34 13 77 - - 7
Customer Buy - - - 6 10 87 - - - 15 13 48 - - - 16 8 46 - - -
Customer Sell - - - 10 15 69 - - - 13 18 40 - - - 14 5 28 - - 7
Dealer to Dealer - - - 7 * 6 - - - 6 - 5 - - - * - * - - -
<= $1MM - - - 19 16 52 - - - 20 12 41 - - - 12 * 9 - - -
<= $10MM - - - * 10 76 - - - 10 19 46 - - - 21 12 68 - - 6
> $10MM - - - - - 34 - - - * - 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.

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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