{"slug":"what-is-a-block-trade","qid":"aapl_block_venues","label":"Where AAPL's 10,000-share-and-up prints executed: July 6, 2026","post_title":"What Is a Block Trade? Big Prints & the Data","post_url":"/blog/what-is-a-block-trade#q-aapl_block_venues","columns":["venue","block_prints","block_shares_m","pct_of_block_volume","prints_with_trf_timestamp"],"rows":[{"venue":"Closing auction (exchange)","block_prints":1,"block_shares_m":10.35,"pct_of_block_volume":51,"prints_with_trf_timestamp":0},{"venue":"Off-exchange (FINRA TRF)","block_prints":62,"block_shares_m":5.26,"pct_of_block_volume":26,"prints_with_trf_timestamp":62},{"venue":"On exchange, continuous","block_prints":14,"block_shares_m":4.03,"pct_of_block_volume":19.9,"prints_with_trf_timestamp":0},{"venue":"Opening auction (exchange)","block_prints":1,"block_shares_m":0.63,"pct_of_block_volume":3.1,"prints_with_trf_timestamp":0}],"shape":"table","sql":"SELECT\n    multiIf(has(conditions, 8), 'Closing auction (exchange)',\n            has(conditions, 17), 'Opening auction (exchange)',\n            exchange = 4, 'Off-exchange (FINRA TRF)',\n            'On exchange, continuous') AS venue,\n    count() AS block_prints,\n    round(toFloat64(sum(size)) / 1e6, 2) AS block_shares_m,\n    round(100.0 * toFloat64(sum(size)) / sum(toFloat64(sum(size))) OVER (), 1) AS pct_of_block_volume,\n    countIf(trf_timestamp IS NOT NULL AND trf_timestamp > toDateTime64('1970-01-02 00:00:00', 9)) AS prints_with_trf_timestamp\nFROM global_markets.stocks_trades\nWHERE ticker = 'AAPL'\n  AND sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-07 00:00:00'\n  AND NOT hasAny(conditions, [15, 16, 38])\n  AND size >= 10000\nGROUP BY venue\nORDER BY block_shares_m DESC, venue","computed_at":"2026-07-26T06:20:42.343956+00:00","elapsed":0.061231002}