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Investopedia explains 'Block Trading Facility - BTF'
When shares are traded in a block trading facility they are transacted in large lots. The size of the lots can vary, but traders are generally not permitted to aggregate multiple, separate orders in an effort to meet minimum volume requirements. Securities traded though a block trading facility are not subject to market fluctuations because they are not publicly visible, making this sort of trade more like a private contract between two parties.
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