I've posted about this over on IHub before, I'm sure you've seen it whoever you are. Why does it happen so often here with Treaty? If it is a sell, then why didn't the "entity" sell at a higher price during the day? If it is a buy, then why can't I get that price, if I want to buy? Everyone knows about T-trades (form t trades)
Here's what investopedia says. junkHustler provided me this link in a PM, even though it contradicted what he described, and now contradicts what you describe. But then again as you said everyone knows...
http://www.investopedia.com/terms/f/formt.asp#axzz2CIuq8SkK
Definition of 'Form T'
A form that FINRA requires brokers to use for reporting equity
trades executed outside of normal market hours . Form T trades occur during extended hours - before the market opens and after it closes. The objective of the Form T reports is to maintain market transparency and integrity.
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Investopedia explains 'Form T'
Trading in extended hours enables investors to react quickly to events that typically occur outside regular market hours, such as earnings reports. However, liquidity may be constrained during such Form T trading, resulting in wide bid-ask spreads.
Form T trading is especially suited for overseas investors , since they may conduct the bulk of their U.S. trading when their markets are open but U.S. markets are closed.
The growing popularity of electronic communication networks means that Form T trading is bound to continue increasing.
Read more:
http://www.investopedia.com/terms/f/formt.asp#ixzz2CIvaUUR0