As of
Download

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 09/15/2025 to 09/19/2025

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 97.9 88.8 84.3 77.1 93.3 101.6 99.7 2.0 7.0 3.3 3.1 * 5.8 *
Weighted Avg. Price 99.0 87.5 88.4 91.0 93.2 101.8 99.1 1.8 6.6 2.7 1.7 * 5.9 *
Avg. Price Bottom 5 Trades 86.0 78.3 71.8 45.8 76.0 94.9 91.3 0.2 4.7 1.8 3.1 * 5.8 *
2nd Quartile Price 97.6 84.4 73.8 65.8 86.9 100.9 99.0 0.7 5.3 2.2 * * * *
3rd Quartile Price 98.9 89.3 87.8 85.4 97.6 102.3 100.0 1.9 6.1 3.1 * * * *
4th Quartile Price 99.4 93.5 90.9 92.0 100.9 103.0 101.3 2.9 9.2 7.3 * * * *
Avg. Price Top 5 Trades 101.4 99.2 98.8 100.4 102.6 104.3 103.7 4.8 10.8 4.8 3.1 * 5.8 *
Standard Deviation 3.3 7.9 9.9 19.4 9.2 2.8 3.0 1.4 2.6 2.4 2.1 * 0.6 *
VOLUME OF TRADES (000'S) 575,760.1 80,335.2 135,522.3 308,759.0 141,727.2 122,680.6 659,372.0 992,480.5 349,532.6 366,182.9 166,721.2 * 396,979.5 *
Customer Buy 139,377.6 40,333.0 76,614.4 138,343.8 67,251.3 4,342.1 488,671.4 640,340.6 194,311.2 * * * * *
Customer Sell 290,941.3 25,405.2 38,516.8 94,473.1 61,751.7 13,440.5 60,344.3 345,853.4 154,476.0 * * * * -
Dealer to Dealer 145,441.3 14,596.9 20,391.1 75,942.1 12,724.1 104,898.0 110,356.3 6,286.5 * * - - - -
<= $1MM 38,402.7 5,785.1 8,408.1 10,860.9 12,413.4 4,351.1 3,711.3 9,932.3 2,613.1 - - - - -
<= $10MM 196,500.1 26,323.4 76,076.8 103,820.3 70,501.9 * 140,076.9 18,716.7 35,863.8 * * - - -
> $10MM 340,857.4 * * 194,077.8 * * 515,583.8 963,831.4 311,055.7 360,377.8 * * 396,979.5 *
NUMBER OF TRADES 190 44 46 65 49 54 83 53 22 9 5 * 5 *
Customer Buy 80 20 22 27 25 14 44 15 10 * * * * *
Customer Sell 71 16 14 18 13 24 23 29 10 * * * * -
Dealer to Dealer 39 8 10 20 11 16 16 9 * * - - - -
<= $1MM 118 32 25 30 27 48 31 23 6 - - - - -
<= $10MM 60 9 18 25 19 * 32 10 9 * * - - -
> $10MM 12 * * 10 * * 20 20 7 8 * * 5 *

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 98.0 89.5 89.4 101.8 107.6 * 106.9
Weighted Avg. Price 98.1 91.3 89.4 101.8 106.6 * 106.8
Avg. Price Bottom 5 Trades 93.8 87.6 89.4 99.5 107.3 * 106.5
2nd Quartile Price 97.8 88.2 * 98.8 106.9 * 106.8
3rd Quartile Price 98.7 89.4 * 102.0 108.9 * 107.0
4th Quartile Price 99.1 93.0 * 107.6 109.1 * 107.2
Avg. Price Top 5 Trades 99.8 91.3 89.4 104.2 108.0 * 107.3
Standard Deviation 1.8 3.1 0.3 4.1 1.4 * 0.7
VOLUME OF TRADES (000'S) 308,920.4 5,659.0 3,813.0 57,177.0 38,042.1 * 25,213.5
Customer Buy 142,005.4 5,318.0 * * * * 25,198.5
Customer Sell 152,600.0 * * 53,752.0 * * *
Dealer to Dealer 14,315.0 * * - * - -
<= $1MM 14,198.5 2,934.0 3,813.0 * * * 1,346.0
<= $10MM 219,327.9 * - * * - *
> $10MM 75,394.0 - - * * - *
NUMBER OF TRADES 81 8 6 8 7 * 9
Customer Buy 32 5 * * * * 8
Customer Sell 40 * * 5 * * *
Dealer to Dealer 9 * * - * - -
<= $1MM 30 7 6 * * * 7
<= $10MM 46 * - * * - *
> $10MM 5 - - * * - *

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 98.3 93.6 105.0 2.5 4.8 4.7 89.3 76.8 97.8 * * - 81.0 * 101.8 - - 99.2
Weighted Avg. Price 98.8 91.9 105.2 3.3 4.6 4.6 86.2 76.0 95.4 * * - 85.6 * 102.4 - - 95.2
Avg. Price Bottom 5 Trades 94.9 89.4 100.4 1.3 4.8 4.7 67.2 62.9 88.5 * * - 18.4 * 100.2 - - 97.1
2nd Quartile Price 97.7 91.7 104.4 0.7 * * 86.4 68.2 90.8 * * - 74.9 * 101.4 - - 99.0
3rd Quartile Price 98.5 94.0 105.4 3.8 * * 94.1 84.7 103.0 * * - 90.5 * 102.3 - - 101.9
4th Quartile Price 99.1 95.9 105.9 4.7 * * 96.8 87.0 103.8 * * - 95.8 * 103.0 - - 102.5
Avg. Price Top 5 Trades 100.0 97.9 108.7 3.7 4.8 4.7 99.1 88.3 104.3 * * - 98.8 * 103.2 - - 102.3
Standard Deviation 1.3 3.8 1.9 2.0 1.0 1.7 11.1 11.9 7.0 * * - 21.8 * 1.9 - - 4.8
VOLUME OF TRADES (000'S) 631,603.0 50,583.5 233,835.3 55,908.2 18,348.3 90,099.8 116,717.8 39,198.0 57,347.0 * * - 170,802.5 * 19,814.8 - - 19,301.0
Customer Buy 305,026.4 39,781.3 85,198.8 * * * 47,249.4 27,508.0 22,360.0 * - - 79,371.9 * 11,602.4 - - 12,011.0
Customer Sell 320,190.3 9,202.1 147,572.5 20,872.0 * * 67,704.7 11,690.0 34,467.0 * - - 87,816.6 - * - - *
Dealer to Dealer 6,386.3 * * * - * * - * - * - 3,614.0 * * - - -
<= $1MM 21,357.3 * 14,654.8 * * - 11,023.7 3,782.0 3,066.0 * - - 5,706.4 - 2,750.5 - - *
<= $10MM 64,644.3 30,463.0 125,340.3 27,016.4 * * 95,384.1 35,416.0 54,281.0 * - - 134,880.1 * 17,064.3 - - *
> $10MM 545,601.4 * 93,840.2 * - * * - - * * - * - - - - -
NUMBER OF TRADES 87 17 85 8 5 5 49 14 23 * * - 71 * 12 - - 8
Customer Buy 31 9 37 * * * 21 8 8 * - - 30 * 6 - - 6
Customer Sell 39 7 46 5 * * 24 6 14 * - - 34 - * - - *
Dealer to Dealer 17 * * * - * * - * - * - 7 * * - - -
<= $1MM 55 * 50 * * - 23 5 8 * - - 34 - 5 - - *
<= $10MM 18 12 29 5 * * 25 9 15 * - - 35 * 7 - - *
> $10MM 14 * 6 * - * * - - * * - * - - - - -

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 * - - 98.2 98.7 101.2 - - - 92.1 95.8 101.3 - - * 72.8 93.0 100.4 - - -
Weighted Avg. Price * - - 98.3 99.1 101.1 - - - 93.4 95.7 101.4 - - * 79.0 90.5 100.3 - - -
Avg. Price Bottom 5 Trades * - - 96.6 91.9 99.5 - - - 77.1 78.1 98.8 - - * 10.6 66.6 89.5 - - -
2nd Quartile Price * - - 97.6 99.0 100.1 - - - 90.0 94.5 100.3 - - * 68.0 92.0 100.0 * - -
3rd Quartile Price * - - 98.7 99.9 100.3 - - - 94.4 98.5 100.8 - - * 86.3 99.8 100.4 * - -
4th Quartile Price * - - 99.3 100.0 102.4 - - - 96.5 99.8 102.5 - - * 95.3 100.2 100.9 * - -
Avg. Price Top 5 Trades * - - 99.3 101.1 105.5 - - - 99.2 101.7 104.8 - - * 99.6 100.9 107.7 - - -
Standard Deviation * - - 1.4 2.8 1.7 - - - 6.4 6.2 1.5 - - * 30.6 12.3 3.2 - - -
VOLUME OF TRADES (000'S) * - - 21,669.4 150,709.6 290,184.2 - - - 237,389.8 260,638.6 278,688.3 - - * 321,657.2 184,753.3 353,370.3 5,467.3 - -
Customer Buy - - - 12,322.6 39,938.0 139,153.0 - - - 107,506.5 133,832.3 153,840.4 - - - 136,956.0 81,116.8 140,117.9 * - -
Customer Sell * - - 8,573.4 108,135.8 137,737.2 - - - 118,526.5 119,968.6 119,337.9 - - * 168,254.1 103,636.5 171,561.8 * - -
Dealer to Dealer - - - * 2,635.8 13,294.0 - - - 11,356.8 6,837.7 * - - - 16,447.0 - 41,690.6 - - -
<= $1MM * - - 5,350.7 15,418.6 27,695.6 - - - 10,605.6 9,310.8 15,248.4 - - - 11,106.2 8,056.5 24,884.1 5,467.3 - -
<= $10MM - - - * 73,695.9 232,488.6 - - - 186,094.8 175,177.8 200,544.8 - - * 245,268.6 103,112.1 312,486.2 - - -
> $10MM - - - - 61,595.1 * - - - * 76,150.0 62,895.0 - - - 65,282.4 73,584.7 * - - -
NUMBER OF TRADES * - - 16 57 135 - - - 68 79 102 - - * 104 48 130 8 - -
Customer Buy - - - 6 19 65 - - - 25 36 51 - - - 46 20 56 * - -
Customer Sell * - - 8 31 57 - - - 35 36 47 - - * 50 28 61 * - -
Dealer to Dealer - - - * 7 13 - - - 8 7 * - - - 8 - 13 - - -
<= $1MM * - - 12 33 66 - - - 21 29 34 - - - 38 17 40 8 - -
<= $10MM - - - * 19 67 - - - 44 44 63 - - * 61 26 89 - - -
> $10MM - - - - 5 * - - - * 6 5 - - - 5 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.

Should you have any questions, please call TRACE Data Services at 888-507-3665 or email [email protected].
Home | Company | Products & Services | Careers | Contact Us
Terms & Conditions, Privacy Policy and Trademarks | 3rd Party Disclaimers and Attribution | Registered Investment Advisor Notice
Build 8.10.12.20250912   © 2025 Intercontinental Exchange, Inc. All Rights Reserved.