A player was recently waived and, wanting to acquire him but not thinking he'll fall to me, I agreed to trade for him.  Usually, no problem, the trade would process prior to the waiver claim tomorrow night, however the Rule 5 draft is tomorrow so rosters will freeze pushing back the trade acceptance.

If he is drafted in the R5 the trade will be nullified.

Nobody involved in trade is Rule 5 draft eligible.  He's on waivers.

If he is claimed by a different team other than you (assuming he has a better waiver position) ?
It will be nullified.

To the best of my knowledge, any time a player is involved in a pending trade and is simultaneously on the waiver wire, any waiver claim of said player will result in a nullification of that trade.

I've done it before and the trade goes through with waivers being nullified upon trade completion.  The only wrench is the Rule 5 roster freeze.  "How soon after "un-freeze" does waivers process?" is the big question I think.

OR

Perhaps when I did it before nobody claimed the player on waivers, but I'm pretty sure that wasn't the case.  If memory serves, once the trade was complete the player no longer appeared on waivers.

Interesting.

Well then, it sounds like you are going to have to let US know the answer once you find out.

The clock stands still for the R5 freeze.

The question seems to be "What processes first?   Trades or Waivers?"   I think it's waivers but you seem to be indicating trade. 

That said, the standard wait for trades is 24 hours, more or less, and 48 hours, more or less, for waivers.  

Well, in the other case the trade processed mid afternoon, well before waivers was scheduled to process.  That WOULD be the case here if not for rule 5 freeze.

They do not.   The R5 will happen on the 11 PM cycle and waivers will happen on the 3 AM cycle.    If your trade was processed for the 7 AM cycle the day of roster freeze, it will process on the 7 AM cycle after the R5 draft.

ok, thanks.  Back to the drawing board.