Different from the underlying stock transactions that are matched through the system of the Hong Kong Stock Exchange, the grey market is matched with quotations through the internal system provided by some brokers.
Therefore, for the same new stock, the grey market quotations of different brokers may be different.It is worth noting that on the first day of listing on the second day, the price of the new shares is still calculated from the issue price, not the closing price of the previous day.
Grey Markets is usually used in the following three scenarios:
3.Market Rules and Fees
1）The current grey market does not support Global accounts, and Prime accounts only support mainland China and some overseas regions
2）Grey market orders only support limit orders, which can be canceled but cannot be changed
3）Grey market does not support short selling
4）Grey market supports T+0 trading and L+2 settlement
5）Grey market and Hong Kong stock trading fees are the same
1）In Discovery - New Share Subscription, you can screen stocks that support the dark market, and click to enter the New Shares page:
2）If a stock is known to support grey market, you can also search for the code to go directly to the new stock page:
Wait until the dark market trading session, click the bottom trading button to enter the order:
5.FAQ
1) Why is there no grey market for xx new shares?
Not all new stocks in Hong Kong will support the grey market. Generally speaking, those not listed on the mainboard do not support grey market trading.
2) Why is the price in Tiger Grey Market different from other brokers?
Grey market transactions are over-the-counter transactions, and quotations are matched through the internal system provided by the brokerage firm, so the grey market price will be different between different brokerage firms.
3) Why does the latest price of unlisted positions not change with the grey market?
It means that the integrated account has not opened the underlying grey market trading, and does not support grey market trading of the underlying positions. Before listing, the latest price is always the IPO issue price, and the profit and loss are 0.
4) Does grey market trading support advance orders?
Not currently supported. However, users can enter the ordering page in advance to make settings, and place an order at the moment of opening.
5) Will the stocks bought in the grey market be sold on the next day of listing?
Support, stocks bought on the grey market can be sold at will after the stock is officially listed, without special restrictions.
6) Why does the grey market display real-time market quotations and manually refresh after listing?
The authority of the grey market has nothing to do with the underlying stock. Currently, Tiger is open to all users, including Hong Kong stock L0 users.
Comments