The block trade, explained.
A block trade is the purchase or sale of a large line of listed shares — too large to work through the order book without moving the price.
Size, without moving the price.
The block is negotiated off the order book at an agreed price, then printed to the exchange under its block-trade rules. Discretion is preserved until the print, avoiding the price drift that working the line on-screen would cause.
We take risk on the line.
Black Haven Investments provides liquidity around the block: we can take all or part of the line onto our book, guarantee a price to the seller, and warehouse the position while it is placed or hedged.
The thresholds, managed.
A substantial transfer often triggers large-holding disclosure in the country of listing. We manage the timing, wording and coordination of those communications around the trade.
Frequently asked.
01How large a block can you handle?
02Do you guarantee a price?
03Can you combine a block with financing?
A block to trade?
Tell us the stock, the venue and the size, and we will come back with an execution approach.