Gray list

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Gray list

Formal roster of stocks that can be traded by the block desks, but not in risk arbitrage because an investment bank is involved with the company on nonpublic activity (e.g., mergers and acquisitions defense). A stock's presence on this list should never be conveyed to anyone outside the trading area, much less outside the firm. See: Restricted list.

Gray List

A list of stocks in which the risk arbitrage division of an investment bank is not allowed to invest. However, the block trading division is allowed to invest in companies on the gray list. The gray list consists of companies working closely with the investment bank on any number of projects, but especially mergers and acquisitions. Because of this, the gray list is unpublished and may not be known outside this risk arbitrage division.
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References in periodicals archive ?
Initially it was thought that only few elements or compounds were of sufficient ecotoxicological interest that they should be monitored constantly; they appeared on the so-called black and grey lists.
Kazakos said, with evident pride, that not only is Cyprus now off the black lists, not only has it moved from the grey lists to the white lists, but "Cyprus is on top of the white lists".
Eventually, Cyprus was moved in 2004 from black list to the grey list in the Paris Memorandum of Understanding (MoU) on port state control, and later to the white list in 2005.