The trade deadline is now just hours away. After a busy few weeks in the NBA, with the All-Star announcements, Anthony Davis trade rumors, a blockbuster deal between the New York Knicks and Dallas Mavericks to send injured big man Kristaps Porzingis to the Mavs and several other deals, Feb. 7 has arrived and teams are in their final hours to work out trades.

Here's everything you need to know about one of the most anticipated days on the NBA calendar. 

When is the 2019 NBA trade deadline?

This year, the deadline comes at 3 p.m. ET on Thursday, February 7.

Is this earlier than usual?

Yes. Traditionally, the trade deadline came after the All-Star break, but starting last season, it was moved up ahead of the league's showcase weekend. For one, it prevents the event from being overshadowed by trade rumors and proposals -- or even blockbuster trades featuring All-Stars, as happened in 2017 when DeMarcus Cousins was traded from the Kings to the Pelicans. 

Additionally, commissioner Adam Silver believes the break provides a perfect opportunity for players who have been traded to figure things out in their new city. 

"[There] was the sense that it was more unsettling to have a player traded right after the All-Star break, that the All-Star break would have been an opportunity for the player to move himself, his family, get his family readjusted and get readjusted to the new team when they have that four- or five-day period to do that

Why are trades announced after 3 p.m. ET?

Getting two or more teams to finalize all the details of a trade takes a lot of work, and things often go down to the wire. That means some trades aren't submitted to the league office for final approval until minutes or even seconds before the deadline. Thus, it takes until after 3 p.m. for the league to review everything and give it the all-clear. 

Still, while some trades might not be announced until after 3 p.m., all the paperwork does need to be submitted before that time. 

Is there any way for a player to change teams after the trade deadline?

Yes. While teams can no longer complete trades after the deadline, they can buy out players. Once they're released, those players hit the waiver wire for 48 hours, where they can be claimed by another team. If they aren't claimed, they become free agents after that time frame. In order to be playoff eligible, however, players must be released by March 1.