1 Any market for goods that are in short supply. It differs from a black market in being legal.
2 A market in shares that have not been issued, although they are due to be issued in a short time. Market makers will often deal with investors or speculators who are willing to trade in anticipation of receiving an allotment of these shares or are willing to cover their deals after flotation. This type of grey market provides an indication of the market price (and premium, if any) after flotation. An investor who does not receive the anticipated allocation has to buy the shares on the open market, often at a loss.
Users without a subscription are not able to see the full content. Please,
or login to access all content.