Gray market

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Gray market

Describes the sale of securities that have not officially been issued to firms other than the underwriting syndicate. This type of market serves as a good indicator of demand for a new issue in the public market.

Gray Market

Trade using unofficial and unregulated, but still legal, means. In securities, a gray market typically refers to trade in bonds or stocks not yet issued. These sales are contingent upon the issuance actually taking place, and are sometimes considered benchmarks for how successful the issuance will be. Another example of a gray market is the pharmaceuticals industry, in which buyers in different countries sometimes pay very different amounts. Buyers in the more expensive country may travel to the other country to buy their medicines, creating a gray market.
References in periodicals archive ?
Firstly, due to the methodological problems assessment of the hidden employment in the survey on Non-Observed Economy 2003 was restricted to hired employees, although this phenomenon exists among self-employed persons as well.
There were no data on the share of illegally working persons who are not included in the number of working persons based on LFS data, although various assessments of fluctuation of total hidden employment and its distribution by the main economic activities have been made (one should distinguish here the Survey of Statistics Lithuania on Non-Observed Economy carried out in 2003).
Measurement methods of the non-observed economy, Journal of Economic Forecasting 1(June): 15-21.

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