Form-T trade is just a late reported trade. It is a normal trade that just gets reported after the market closes. It does not happen after the market closes. Just reported after market. Nothing too special about this.
" Last sale reports of transactions in designated securities executed between the hours of 4:00 p.m. and 6:30 p.m. Eastern Time shall be reported within 90 seconds after execution and be designated [as “.T” trades] with the unique trade report modifier, as specified by NASD, to denote their execution outside normal market hours. [Transactions not reported within 90 seconds also shall be designated as .T trades.] Transactions not reported before 6:30 p.m. cannot be reported through the NASD/NSX Trade Reporting Facility. Participants must use an alternative electronic mechanism to report these trades. (C) Last sale reports of transactions executed between midnight and 8:00 a.m. Eastern Time shall be reported between 8:00 a.m. and 9:30 a.m. Eastern Time on trade date [as “.T” trades] with the unique trade report modifier, as specified by NASD, to denote their execution outside normal market hours. Such [T]transactions not reported before 9:30 a.m. shall be reported after 4:00 p.m. and before 6:30 p.m. [as .T trades] with the appropriate trade report modifier as specified by NASD. "
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