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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 03/16/2026 to 03/20/2026

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 96.0 80.5 87.8 96.3 99.5 99.4 96.4 4.7 4.4 - - * * *
Weighted Avg. Price 96.9 87.6 89.7 98.5 100.0 99.6 96.4 4.5 4.4 - - * * *
Avg. Price Bottom 5 Trades 73.6 74.7 72.5 83.1 86.2 88.3 84.3 3.4 2.0 - - * * *
2nd Quartile Price 94.3 74.8 88.4 95.7 99.9 99.6 97.1 3.9 2.3 - - * * *
3rd Quartile Price 98.6 80.2 90.2 97.1 100.8 100.2 99.0 4.4 6.4 - - * * *
4th Quartile Price 99.3 88.2 91.2 100.6 101.7 100.7 100.1 5.9 7.3 - - * * *
Avg. Price Top 5 Trades 99.8 91.4 95.9 101.8 104.2 102.9 100.8 6.4 6.8 - - * * *
Standard Deviation 5.5 6.9 9.8 5.8 6.3 3.5 6.1 1.3 2.6 - - * * *
VOLUME OF TRADES (000'S) 1,078,690.0 98,622.6 122,809.9 179,271.1 217,351.3 912,690.9 244,351.9 463,257.5 476,666.3 - - * * *
Customer Buy 441,603.3 46,682.2 53,140.2 41,854.7 40,819.6 308,850.1 175,696.2 * * - - * - *
Customer Sell 588,368.2 50,250.7 42,517.0 117,745.6 138,572.0 561,924.5 * 408,700.3 338,332.1 - - * * -
Dealer to Dealer 48,718.4 1,689.6 27,152.7 19,670.8 37,959.7 41,916.4 8,506.6 - - - - - - -
<= $1MM 40,693.4 5,670.8 7,396.3 11,813.9 3,271.2 5,218.2 * - - - - - - -
<= $10MM 243,468.5 18,951.8 44,102.6 57,111.1 72,465.9 76,052.6 83,546.5 * * - - - - *
> $10MM 794,528.1 * * * 141,614.2 831,420.1 159,642.3 456,980.6 461,419.1 - - * * -
NUMBER OF TRADES 248 38 29 49 46 70 36 16 10 - - * * *
Customer Buy 99 19 13 10 14 24 28 * * - - * - *
Customer Sell 117 7 11 25 23 37 * 13 7 - - * * -
Dealer to Dealer 32 12 5 14 9 9 5 - - - - - - -
<= $1MM 136 29 12 29 24 39 * - - - - - - -
<= $10MM 73 5 14 16 14 12 25 * * - - - - *
> $10MM 39 * * * 8 19 8 15 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 97.2 * 94.2 106.1 104.3 104.2 -
Weighted Avg. Price 96.0 * 92.7 105.5 103.7 104.4 -
Avg. Price Bottom 5 Trades 87.8 * 90.7 104.5 102.5 103.7 -
2nd Quartile Price 97.8 * 90.9 104.6 103.9 104.4 -
3rd Quartile Price 98.8 * 92.7 106.0 104.7 104.8 -
4th Quartile Price 99.3 * 97.7 110.0 105.7 105.1 -
Avg. Price Top 5 Trades 99.7 * 99.3 107.6 105.9 104.9 -
Standard Deviation 3.6 * 5.5 2.9 1.6 1.3 -
VOLUME OF TRADES (000'S) 267,655.5 * 42,520.0 19,245.0 55,787.5 43,884.0 -
Customer Buy 87,204.5 - 25,570.0 12,060.0 24,510.0 * -
Customer Sell 179,971.0 * * * 31,257.5 37,884.0 -
Dealer to Dealer * - - - * - -
<= $1MM 6,567.0 * * * * * -
<= $10MM 149,801.4 * 27,800.0 * 43,840.5 * -
> $10MM 111,287.2 - * - * * -
NUMBER OF TRADES 63 * 13 8 17 9 -
Customer Buy 22 - 9 5 7 * -
Customer Sell 39 * * * 9 8 -
Dealer to Dealer * - - - * - -
<= $1MM 19 * * * * * -
<= $10MM 37 * 8 * 12 * -
> $10MM 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 98.9 99.7 103.0 - - 3.9 93.3 96.1 98.5 - - - 82.9 * * - - -
Weighted Avg. Price 99.2 96.0 103.1 - - 3.7 93.2 96.8 98.3 - - - 80.7 * * - - -
Avg. Price Bottom 5 Trades 96.5 90.0 100.8 - - 3.4 88.9 82.8 85.4 - - - 31.1 * * - - -
2nd Quartile Price 98.6 99.2 102.2 - - 3.7 92.0 91.0 98.8 - - - 81.5 * * - - -
3rd Quartile Price 99.2 103.3 103.1 - - 4.3 93.6 101.5 100.3 - - - 92.8 * * - - -
4th Quartile Price 99.6 103.8 103.9 - - 4.7 96.9 103.5 102.0 - - - 95.3 * * - - -
Avg. Price Top 5 Trades 99.7 104.0 105.0 - - 4.3 97.8 104.8 103.4 - - - 98.2 * * - - -
Standard Deviation 0.9 5.3 1.2 - - 0.7 4.2 8.6 5.8 - - - 20.5 * * - - -
VOLUME OF TRADES (000'S) 245,799.9 21,396.6 497,527.3 - - 501,650.2 47,768.5 132,707.0 111,990.9 - - - 176,123.9 * * - - -
Customer Buy 91,498.7 16,382.5 260,327.0 - - 252,400.6 21,389.5 61,828.0 68,888.4 - - - 83,695.7 * * - - -
Customer Sell 154,297.2 4,344.1 232,324.3 - - * 26,379.0 70,879.0 43,102.4 - - - 81,047.0 - * - - -
Dealer to Dealer * * 4,876.0 - - - - - - - - - * - - - - -
<= $1MM 9,050.3 5,003.1 9,394.2 - - - 2,501.0 * 3,275.0 - - - 10,005.8 - - - - -
<= $10MM 124,602.1 16,393.5 180,550.0 - - * 45,267.5 106,923.0 108,715.9 - - - 166,118.2 * * - - -
> $10MM 112,147.5 - 307,583.1 - - 498,499.3 - * - - - - - - - - - -
NUMBER OF TRADES 73 28 85 - - 9 20 27 33 - - - 67 * * - - -
Customer Buy 28 11 40 - - 5 9 13 21 - - - 34 * * - - -
Customer Sell 44 13 40 - - * 11 14 12 - - - 30 - * - - -
Dealer to Dealer * * 5 - - - - - - - - - * - - - - -
<= $1MM 37 22 33 - - - 7 * 5 - - - 16 - - - - -
<= $10MM 28 6 37 - - * 13 23 28 - - - 51 * * - - -
> $10MM 8 - 15 - - 8 - * - - - - - - - - - -

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 - - - 95.4 98.7 100.0 - - - 95.1 97.9 99.5 - - - 72.9 95.1 99.5 - * -
Weighted Avg. Price - - - 97.1 98.4 100.0 - - - 95.8 97.9 100.1 - - - 76.3 90.8 99.2 - * -
Avg. Price Bottom 5 Trades - - - 90.2 91.2 97.7 - - - 88.4 86.1 95.9 - - - 12.2 78.0 92.8 - * -
2nd Quartile Price - - - 92.7 98.5 99.6 - - - 90.7 98.2 98.5 - - - 66.0 95.0 99.2 - * -
3rd Quartile Price - - - 95.1 99.9 99.9 - - - 95.5 99.2 99.9 - - - 80.5 98.5 99.9 - * -
4th Quartile Price - - - 99.0 100.6 100.1 - - - 99.8 99.9 100.5 - - - 98.6 100.1 100.4 - * -
Avg. Price Top 5 Trades - - - 99.6 102.3 102.6 - - - 99.8 101.8 103.1 - - - 99.8 100.8 102.6 - * -
Standard Deviation - - - 3.5 3.4 0.9 - - - 4.3 5.8 1.6 - - - 27.8 8.1 2.0 - * -
VOLUME OF TRADES (000'S) - - - 53,505.4 126,190.8 714,132.2 - - - 189,948.3 154,043.0 296,900.9 - - - 340,657.8 190,358.2 284,446.1 - * -
Customer Buy - - - 23,838.0 69,992.8 343,918.1 - - - 94,611.1 66,951.9 157,148.9 - - - 166,997.5 83,418.2 116,286.5 - * -
Customer Sell - - - 23,667.4 49,965.0 370,214.2 - - - 95,337.1 74,811.1 127,937.0 - - - 170,654.9 101,940.0 135,459.5 - * -
Dealer to Dealer - - - * * - - - - - 12,280.0 11,815.0 - - - * * * - - -
<= $1MM - - - 10,303.0 6,995.6 28,945.2 - - - 6,167.0 8,166.1 9,454.3 - - - 4,536.7 6,255.8 12,099.2 - - -
<= $10MM - - - 29,602.4 119,195.2 276,807.8 - - - 160,167.3 133,276.9 233,003.7 - - - 277,307.1 151,302.4 261,235.7 - * -
> $10MM - - - * - 408,379.2 - - - * * * - - - 58,814.0 * * - - -
NUMBER OF TRADES - - - 32 45 141 - - - 48 59 120 - - - 84 50 83 - * -
Customer Buy - - - 7 22 71 - - - 23 22 46 - - - 47 22 33 - * -
Customer Sell - - - 23 22 70 - - - 25 29 55 - - - 35 27 46 - * -
Dealer to Dealer - - - * * - - - - - 8 19 - - - * * * - - -
<= $1MM - - - 20 19 54 - - - 9 30 52 - - - 13 11 23 - - -
<= $10MM - - - 11 26 68 - - - 37 28 64 - - - 66 37 59 - * -
> $10MM - - - * - 19 - - - * * * - - - 5 * * - - -

* 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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