Structured Finance Service

Structured Finance Service provides pricing perspectives on agency and non-agency structured finance securities by utilizing settlement activity sourced from the Depository Trust Company (DTC).
DTC serves as a central securities depository and post-trade infrastructure for the U.S. market, enabling broad visibility across more than +13k securitized products and supporting enhanced transparency throughout the structured finance ecosystem.

• About

  Gain deeper visibility into structured finance markets with Structured Finance Service. Drawing on DTC’s unique settlement infrastructure, the service delivers robust pricing intelligence across 13,000+ securitized products, including agency and non-agency securities. From actively traded securities to hard-to-price securities, our clients can access reliable pricing insights to support execution, portfolio valuation, and market analysis.

  Whether evaluating actively traded securities or assessing positions with limited observable market activity, users can access independent pricing insights to support critical front-, middle-, and back-office functions.

• Benefits

  • Transparent Pricing: Gain independent, data-driven pricing insights across agency and non-agency structured finance securities, including thinly traded and hard-to-value instruments. Improve price discovery, identify relative value opportunities and support more confident trading, valuation, and investment decisions.
  • Most Up-to-Date Market Data: Leverage pricing intelligence informed by DTC’s settlement infrastructure to reflect current market activity. Stay aligned with evolving market conditions, enhance responsiveness to market movements and make decisions based on timely information.
  • Flexible Delivery: Access pricing data through multiple delivery channels, including data feeds, APIs, cloud platforms, and desktop applications. Integrate seamlessly into existing trading, valuation, risk, and analytics workflows while reducing operational complexity.
  • Extensive Structured Finance Coverage: Access pricing across a broad range of securitized products, including ABS, CMBS, Agency, and CMO securities. Maintain visibility across the structured finance landscape from the most liquid benchmarks to less frequently traded positions.

• Coverage

  Activity

  Security Coverage	13K+
  Total Face Value Trade	$412B
  Total Transactions	~300K
  Average Daily Trade Volume	1K+

  Based on transaction volumes from July 2025 to 2026

  Structure Finance Service Coverage

  ABS	7K+
  CMBS	300+
  Agency	1K+
  CMO	4K+

  Users

  • Traders & Portfolio Managers: Identify opportunities, assess relative value and manage portfolios with greater confidence using independent pricing intelligence across both liquid and illiquid structured finance securities.
  • Sales & Trading: Support client conversations, improve price discovery and uncover trading opportunities with transparent pricing insights across the securitized products market.
  • Pricing, Valuation & Risk Teams: Improve valuation accuracy and strengthen risk oversight with independently derived pricing intelligence for difficult-to-price structured finance instruments.
  • Quants & Analysts: Enhance quantitative models and market analysis with broad pricing coverage and unique insights derived from DTC settlement activity.

• How It Works

  Structured Finance Service leverages DTC settlement activity to generate derived pricing insights across the securitized products market. By transforming market activity into actionable pricing intelligence, the service delivers broader market transparency across agency and non-agency structured finance securities while adhering to applicable aggregation and disclosure standards.

  In addition to pricing insights, Structured Finance Service includes comprehensive reference data that provides visibility into key security characteristics and structural attributes. Together, these datasets enable users to analyze securities, understand pricing behavior, and connect market observations to underlying instrument features more efficiently.

• Delivery

  • Structured Finance Service Delivery Schedule: Subscribers will receive daily files of Settlement Date +1 business day’s activity by 6:15 AM ET Tuesday through Saturday.
  • Holiday Data Delivery: Delivery follows the DTC Holiday calendar.
  • Historical Data: Historical data (from November 21, 2024) is available via a one-time delivery.
  • Delivery Methods: SFTP, Cloud Transfer (API, AWS, Azure, GUI or Google Cloud), Snowflake