Block Trading Execution

Executing Block Trades on NYSE Liffe U.S.

Block trades are off-exchange transactions that must be reported to the exchange.

• Block trades must be reported in either of two ways:
  1. Through LIFFE CONNECT API
  2. Through email using the Exchange’s Block Trade Form
• Members may not aggregate orders to meet the block trade thresholds, unless executed by a registered Commodity Trading Advisor, or similarly situated adviser, with assets under management of at least $25 million. Please see Rule 423 for all applicable requirements.
• Block trades must be reported within 15 minutes of completion of negotiation. Block trades may not be executed during the last 15 minutes of a trading session in a contract, nor during the period when the exchange is closed for trading in the contract.
• Reporting:
  1. Where seller is a member, the selling member reports the block trade.
  2. Where seller is a customer, the member through which the customer sold reports the block trade.

 For detailed information please refer to:

• Block Trade execution overview
• NYSE Liffe U.S. Rule 423 (Block Trading)
• NYSE Liffe U.S. Notice 5/2011 (Section 6: Block Trading Facilities)
• NYSE Liffe U.S. Notice 8/2011 (Exchange of Futures for Futures: EFFs)