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Americas Block Trades SEC USD

United States Block Trade on NYSE & Nasdaq

Block-trade financing and discreet execution for large lines of shares listed in the United States — for sellers and acquirers who need to move size without disturbing the order book or the price.

01 · Process
How it works

From enquiry to print.

—StageWhat happensTiming
01Confidential enquiryThe line, the holding and the objective, shared through a secure channel.Day one
02Pricing the blockThe line is sized and a price set against it; any discount reflects size and liquidity.1–2 days
03Execution & printWorked off the order book or negotiated, then printed under the exchange’s block-trade rules.On the day
04Settlement & disclosureSettles on the standard cycle; any substantial-holding disclosure is sequenced around the print.T+1 / T+2
02 · The Market
Americas

United States equity markets.

A United States block trade moves a large line of NYSE- or Nasdaq-listed stock in a single negotiated transaction — away from the displayed order book, at an agreed price — so a holder can exit, or an acquirer build a position, without walking the screen in the world’s deepest equity market. Black Haven can take the line onto its own book, giving the seller a clean, priced exit while the Rule 144 and beneficial-ownership disclosure that follows a large transfer is managed around the print.

For an affiliate or control person, size is governed as much by Rule 144 as by liquidity: sales in any three-month period are generally capped at the greater of 1% of the class outstanding or the average weekly reported volume over the preceding four weeks, with Form 144 filed at or before the sale. A crossing 5% interest is reportable on Schedule 13D or 13G, and Section 16 insiders file a Form 4 within two business days. Against S&P 500 and Nasdaq-100 turnover, institutional blocks print with limited signalling; the binding constraint is the affiliate framework, not depth. Trades settle T+1 through DTC.

United States block trades at a glance:

Listed venuesNew York Stock Exchange (NYSE), Nasdaq Stock Market (Nasdaq)
RegulatorU.S. Securities and Exchange Commission (SEC)
CurrencyUSD
SettlementT+1
Disclosure threshold5%
Principal indicesS&P 500, Dow Jones Industrial Average, NYSE Composite
StructureOff-market or negotiated-price

Regulatory references are published for general orientation and are not legal advice.

03 · Exchanges
Two Venues

Each United States exchange, covered.

NYSE · New York

New York Stock Exchange

Auction-and-electronic hybrid market with a Designated Market Maker assigned to every listed security. The deepest pool of listed corporate equity in the world by aggregate market capitalisation.

View NYSE → Nasdaq · New York

Nasdaq Stock Market

The first fully electronic stock market, today the principal listing venue for technology, biotechnology, and growth issuers. Three tiers calibrate listing standards to issuer maturity.

View Nasdaq →
04 · FAQ
United States · Block Trades

What holders ask about the United States.

01Does a block trade in the US have to be disclosed?
It depends on who you are and how much moves. An affiliate selling above the de minimis threshold files Form 144 at or before the sale; crossing or falling through 5% of a registered class is reportable on Schedule 13D or 13G; and Section 16 insiders file a Form 4 within two business days. We map which of these apply and sequence the reporting around the print.
02Can I sell restricted or control stock in a single block?
Often, yes, subject to Rule 144. Restricted shares carry a holding period, and affiliates are bound by volume limits and manner-of-sale conditions on ordinary market sales. Because Black Haven can take the line onto its own book as principal, a negotiated block can give a priced exit where an open-market drip would be slow or constrained. We confirm eligibility against the specific holding first.
03How do you execute a United States block trade?
We work the line off the order book, off-market or at a negotiated price, and the block is then printed to New York Stock Exchange (NYSE) and Nasdaq Stock Market (Nasdaq) under its block-trade rules. Black Haven Investments can take all or part of the risk on the line, so the seller achieves a clean exit at an agreed price.
04How large a block can you handle in the United States?
It depends on the stock’s free float, daily traded volume and volatility. We assess each line on its merits and indicate a workable size and price range after reviewing the position.
05Does the block trade have to be disclosed?
Often, yes. A substantial transfer by a significant shareholder is generally disclosable under the relevant regime overseen by SEC. We manage the sequencing and wording of any required notification around the trade.
06Can you finance the buyer of the block?
Yes. A block can be paired with a stock loan to the acquirer, so the newly acquired United States-listed line serves immediately as collateral for the financing that funds it.
07What is the settlement cycle for a United States block trade?
The negotiated block is printed to New York Stock Exchange (NYSE) and Nasdaq Stock Market (Nasdaq) under its block-trade rules and then settles on the standard T+1 cycle. We coordinate the print, the settlement and any financing legs so the line moves cleanly.
08At what level must a block be disclosed in the United States?
The principal threshold is 5%, under Schedule 13D / 13G beneficial ownership reports under Section 13(d) of the Securities Exchange Act of 1934 overseen by SEC. A crossing by a substantial holder is notifiable; we sequence the print and the notice.
09Can you execute a block for a foreign or offshore seller?
Yes. The line is held with a qualified custodian and the block printed to New York Stock Exchange (NYSE) and Nasdaq Stock Market (Nasdaq); we manage cross-border custody, settlement and the disclosure that attaches to a substantial transfer.
10How quickly can a United States block be executed?
It depends on the stock’s liquidity and the size of the line relative to daily volume. Once mandated, many blocks are worked and printed within days; thinner lines are paced to limit market impact.
05 · Adjacent Markets
Americas

Countries adjacent to the United States.

Canada · Brazil · Mexico · Chile

All countries →

Guides

Related guides.

Block Trades

What Is a Block Trade, and How Does One Work?

A block trade is the off-market sale of a large line of listed shares at a negotiated price, executed bilaterally and printed under exchange rules to avoid moving the open market.

Read → Block Trades

How Do You Sell a Large Block of Shares Without Moving the Price?

A large block is sold without moving the price by taking it off the open order book — negotiating off-market at an agreed price, often with a liquidity provider taking the risk, and printing under exchange block rules.

Read → Disclosure

Do Block Trades Have to Be Disclosed?

Often yes. Once a significant shareholder crosses a market’s substantial-holding threshold, a block sale is generally notifiable to the regulator within a set window, with thresholds varying by jurisdiction.

Read →

A particular United States holding to talk through?

Send a confidential enquiry, and a senior principal will reply within one business day.

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