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My league had a big fight over this topic. One major consideration is redraft / keeper / dynasty ( mine is keeper ).
We found that a later trade deadline began to lead to trading scenarios of future keeper for current stud. Teams that are effectively out of major playoff runs would begin to trade for next year. Nothing wrong with that, IMO, but it caused much consternation with some teams at the top of the league who were getting more playoff competition.
My basic rule for trading is both teams need to be, in their owners mind, improving their team. In redraft leagues, there is no incentive to give up now for future, so a late trade deadline makes sense to me. In keeper / dynasty leagues, an earlier deadline will cut off trading before most teams are out of contention, so you can keep a current year competitive balance.
Ours is re-draft, long time league in it's 15th year where collusion isn't really something we even need to worry about. We play 12 regular season weeks, with playoffs 13-16, and a total points title and prize that runs all the way through week 17.
Our trade deadline is Week 12, prior to Thanksgiving Day kickoff.
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