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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 01/27/2025 to 01/31/2025

Pricing Table: Agency CMBS by Deal Vintage
METRIC AGENCY CMBS (P&I) AGENCY CMBS (IO/PO)
PRE-2020 2020 2021 2022 2023 2024 2025 PRE-2020 2020 2021 2022 2023 2024 2025
AVERAGE PRICE 96.2 82.4 79.0 78.8 94.0 98.4 94.3 8.0 10.7 7.0 * * * *
Weighted Avg. Price 96.1 73.8 80.2 92.5 98.9 99.9 94.7 8.0 3.8 6.9 * * * *
Avg. Price Bottom 5 Trades 85.8 69.6 69.6 49.6 78.0 92.7 92.0 1.9 4.8 7.0 * * * *
2nd Quartile Price 95.0 70.6 71.0 66.5 95.1 97.6 93.8 3.5 7.5 * * * * *
3rd Quartile Price 97.3 84.3 83.2 86.8 98.4 98.9 96.4 6.5 9.1 * * * * *
4th Quartile Price 98.8 90.6 84.5 93.4 100.4 99.6 98.2 6.8 9.5 * * * * *
Avg. Price Top 5 Trades 100.2 97.3 92.8 95.2 101.2 101.8 97.7 15.7 16.2 7.0 * * * *
Standard Deviation 3.6 10.8 8.9 16.9 10.0 2.7 5.4 12.4 13.1 0.6 * * * *
VOLUME OF TRADES (000'S) 660,601.9 119,212.6 287,735.0 134,322.7 274,804.7 500,408.6 225,135.7 178,564.2 1,048,045.7 197,237.6 * * * *
Customer Buy 265,754.0 12,195.3 93,169.0 10,148.1 84,609.6 242,792.4 91,344.0 70,071.9 1,043,676.6 * * * * *
Customer Sell 350,284.3 64,708.7 99,375.8 44,516.7 1,747.1 239,937.2 * 108,492.3 * * * * * -
Dealer to Dealer 44,563.6 42,308.6 95,190.1 79,658.0 188,448.0 17,679.1 * - - - - - - -
<= $1MM 31,414.2 4,110.0 976.6 5,447.9 3,585.1 12,202.7 * 1,969.2 * - * - - -
<= $10MM 98,591.1 115,102.7 90,942.4 12,122.2 21,219.6 49,157.8 - * * * - * - -
> $10MM 530,596.6 - 195,816.0 * * 439,048.1 224,785.7 170,145.3 * * * * * *
NUMBER OF TRADES 181 33 31 30 21 71 11 14 9 5 * * * *
Customer Buy 72 13 9 13 10 31 5 8 6 * * * * *
Customer Sell 67 15 15 12 6 28 * 6 * * * * * -
Dealer to Dealer 42 5 7 5 5 12 * - - - - - - -
<= $1MM 116 16 7 21 11 43 * 5 * - * - - -
<= $10MM 45 17 15 6 6 16 - * * * - * - -
> $10MM 20 - 9 * * 12 10 8 * * * * * *

Pricing Table: CMBS Conduit AAA LCF (P&I) by Deal Vintage
METRIC CONDUIT AAA LCF (P&I)
PRE-2020 2020 2021 2022 2023 2024 2025
AVERAGE PRICE 96.5 86.2 85.0 94.4 103.8 102.3 103.8
Weighted Avg. Price 97.1 85.9 85.2 97.1 103.1 102.8 103.8
Avg. Price Bottom 5 Trades 89.3 84.4 84.3 87.5 103.0 100.5 103.7
2nd Quartile Price 95.5 84.4 84.6 89.1 103.5 100.8 103.8
3rd Quartile Price 97.1 85.9 85.0 95.3 103.7 102.5 103.8
4th Quartile Price 98.4 88.0 85.7 103.6 105.4 104.2 103.9
Avg. Price Top 5 Trades 99.5 88.6 86.0 101.9 104.8 104.4 103.9
Standard Deviation 2.6 2.0 0.8 6.7 1.2 1.9 0.1
VOLUME OF TRADES (000'S) 264,299.7 66,211.1 24,817.0 21,570.0 15,775.0 43,191.0 68,206.0
Customer Buy 142,658.7 36,101.0 12,895.0 * * 42,291.0 *
Customer Sell 117,198.7 29,910.1 11,247.0 12,909.0 4,950.0 625.0 43,353.0
Dealer to Dealer 4,442.3 * * 4,166.0 * * -
<= $1MM 15,628.3 2,892.5 3,491.0 4,612.0 1,050.0 2,671.0 *
<= $10MM 182,965.3 25,594.5 21,326.0 16,958.0 14,725.0 * 27,474.0
> $10MM * * - - - * *
NUMBER OF TRADES 107 16 17 17 13 15 10
Customer Buy 42 7 7 * * 9 *
Customer Sell 53 8 7 9 6 5 6
Dealer to Dealer 12 * * 5 * * -
<= $1MM 56 8 11 11 6 11 *
<= $10MM 47 5 6 6 7 * 6
> $10MM * * - - - * *

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-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 96.8 95.3 103.2 * * * 88.4 75.6 90.8 - - - 72.5 89.8 85.5 - - 58.3
Weighted Avg. Price 96.5 96.4 103.4 * * * 88.9 71.5 84.7 - - - 74.0 88.8 75.7 - - 20.1
Avg. Price Bottom 5 Trades 93.4 94.1 98.9 * * * 60.7 69.9 77.3 - - - 5.9 89.8 72.5 - - 31.5
2nd Quartile Price 96.1 95.0 102.3 * * * 86.5 68.3 83.9 - - - 72.5 * 76.4 - - 16.2
3rd Quartile Price 96.8 95.1 103.6 * * * 89.0 78.6 88.7 - - - 82.8 * 83.0 - - 94.6
4th Quartile Price 97.9 95.5 104.3 * * * 94.0 80.4 103.6 - - - 89.5 * 101.0 - - 104.0
Avg. Price Top 5 Trades 99.2 96.3 106.0 * * * 98.4 80.2 104.0 - - - 94.4 89.8 102.7 - - 84.0
Standard Deviation 1.5 1.8 1.9 * * * 9.5 5.8 11.3 - - - 25.9 4.9 13.0 - - 45.6
VOLUME OF TRADES (000'S) 149,020.0 35,654.0 330,952.6 * * * 153,424.6 40,416.0 65,994.0 - - - 235,473.9 13,970.1 105,150.0 - - 93,766.0
Customer Buy 104,773.3 31,174.1 205,359.6 * * - 64,475.7 20,313.0 27,521.0 - - - 124,405.6 * 48,825.0 - - *
Customer Sell 44,246.7 * 114,972.0 * * * 83,485.9 20,103.0 37,333.0 - - - 106,073.3 * 56,325.0 - - *
Dealer to Dealer - * 10,621.0 - - - * - * - - - 4,995.0 - - - - -
<= $1MM 10,665.0 900.0 9,795.0 - - - 12,943.1 * 2,859.0 - - - 3,952.2 - * - - *
<= $10MM 111,521.4 23,694.8 162,549.0 * - * 140,481.5 38,520.0 63,135.0 - - - 183,455.6 13,970.1 24,500.0 - - *
> $10MM * * 158,608.5 - * - - - - - - - * - * - - *
NUMBER OF TRADES 60 14 69 * * * 69 12 20 - - - 63 5 16 - - 8
Customer Buy 35 9 41 * * - 28 6 8 - - - 30 * 6 - - *
Customer Sell 25 * 19 * * * 38 6 10 - - - 23 * 10 - - *
Dealer to Dealer - * 9 - - - * - * - - - 10 - - - - -
<= $1MM 28 6 28 - - - 30 * 7 - - - 23 - * - - *
<= $10MM 30 7 34 * - * 39 9 13 - - - 37 5 9 - - *
> $10MM * * 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-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 - - - 96.4 96.0 100.1 - - - 90.4 95.6 101.2 - - - 80.4 95.5 101.4 - 89.0 -
Weighted Avg. Price - - - 96.8 96.8 98.5 - - - 87.6 94.9 101.8 - - - 69.7 96.5 101.2 - 91.3 -
Avg. Price Bottom 5 Trades - - - 90.1 84.9 92.4 - - - 71.1 88.3 98.5 - - - 10.1 72.0 95.6 - 89.0 -
2nd Quartile Price - - - 95.0 92.1 100.1 - - - 88.1 92.7 100.2 - - - 75.1 94.6 100.5 - * -
3rd Quartile Price - - - 96.5 98.1 100.4 - - - 92.3 97.0 100.6 - - - 91.9 99.4 101.1 - * -
4th Quartile Price - - - 99.3 99.9 100.7 - - - 96.1 99.5 102.6 - - - 96.2 99.9 102.0 - * -
Avg. Price Top 5 Trades - - - 99.7 100.6 104.4 - - - 99.7 100.2 105.7 - - - 99.3 100.9 107.7 - 89.0 -
Standard Deviation - - - 3.3 4.7 2.3 - - - 8.1 4.1 1.9 - - - 26.3 8.1 2.5 - 5.4 -
VOLUME OF TRADES (000'S) - - - 119,145.7 393,438.5 550,936.1 - - - 142,005.4 152,910.8 145,068.7 - - - 229,470.2 330,891.1 359,785.0 - 70,320.0 -
Customer Buy - - - 48,824.7 171,305.4 184,121.4 - - - 81,201.0 72,501.9 78,294.7 - - - 117,711.5 138,661.1 143,707.5 - * -
Customer Sell - - - 53,471.0 202,003.7 330,594.1 - - - 49,204.4 59,291.6 65,439.0 - - - 110,158.7 171,557.4 210,736.5 - * -
Dealer to Dealer - - - 16,850.0 20,129.4 36,220.5 - - - 11,600.0 21,117.3 1,335.0 - - - * * * - * -
<= $1MM - - - 1,935.0 20,251.1 23,638.0 - - - 8,532.1 8,586.2 7,823.7 - - - 10,782.3 8,597.7 8,778.0 - - -
<= $10MM - - - 89,530.7 194,840.9 245,864.2 - - - 109,773.3 144,324.5 137,245.0 - - - 153,670.9 177,877.9 299,691.0 - * -
> $10MM - - - * 178,346.5 281,434.0 - - - * - - - - - 65,017.0 144,415.6 * - * -
NUMBER OF TRADES - - - 33 125 143 - - - 56 57 62 - - - 74 71 104 - 5 -
Customer Buy - - - 11 48 54 - - - 26 26 25 - - - 35 34 45 - * -
Customer Sell - - - 16 63 66 - - - 25 26 29 - - - 37 35 57 - * -
Dealer to Dealer - - - 6 14 23 - - - 5 5 8 - - - * * * - * -
<= $1MM - - - 8 63 60 - - - 26 26 33 - - - 22 17 19 - - -
<= $10MM - - - 23 51 70 - - - 28 31 29 - - - 47 44 81 - * -
> $10MM - - - * 11 13 - - - * - - - - - 5 10 * - * -

* 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.

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