Here’s your lesson for today A gray market is an unofficial market for financial securities. Gray (or “grey”) market trading generally occurs when a stock that has been suspended from trades off the market, or when new securities are bought and sold before official trading begins. The gray market enables the issuer and underwriters to gauge demand for a new offering because it is a “when issued” market (i.e., it trades securities that will be offered in the very near future). The gray market is an unofficial one but is not illegal.
The term “gray market” also refers to the import and sale of goods by unauthorized dealers; in this instance as well, such activity is unofficial but not illegal.
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