BLOCK TRADE Definition

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BLOCK TRADE is a purchase or sale of a large quantity of stock of 10,000 shares or more. For purposes of NASD Rule 6541 regarding Limit Order Protection, a block trade is defined as one for 10,000 shares or more and greater than $20,000 in value.

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WHOLESALE is the selling of goods to retail merchants; usually in large quantities for resale to consumers.

SHARE BUY-BACK is when a company makes an offer to buy back some of its own shares. There are several types of buy-backs. Three common types are: 1. an equal access scheme - when the company offers to buy back the same proportion of each shareholders shares; 2. a selective buy-back - when the company offers to buy back shares from only one or some of its shareholders; or, 3. the company may buy the shares on the exchange where the shares are traded.

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