### Question
How is the "block trade" defined?


### Answer
The term **block trade** is defined in *29 U.S.C. § 1108* as follows -

> any trade of at least 10,000 shares or with a market value of at least $200,000 which will be allocated across two or more unrelated client accounts of a fiduciary

#### Citation:
  - *29 U.S.C. § 1108*
  - Heading: **CHAPTER 18-EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM > SUBCHAPTER I-PROTECTION OF EMPLOYEE BENEFIT RIGHTS > Subtitle B-Regulatory Provisions > part 4-fiduciary responsibility**

