Block trade
Block trade means a publicly reportable swap transaction that:
(1) Involves a swap that is listed on a registered swap execution facility or designated contract market;
(2) Occurs away from the registered swap execution facility's or designated contract market's trading system or platform and is executed pursuant to the registered swap execution facility's or designated contract market's rules and procedures;
(3) Has a notional or principal amount at or above the appropriate minimum block size applicable to such swap; and
(4) Is reported subject to the rules and procedures of the registered swap execution facility or designated contract market and the rules described in this part, including the appropriate time delay requirements set forth in ยง 43.5 of this part.