Grey market trading is conducted outside of the exchange's trading system and is instead quoted and matched through internal systems operated by participating brokers.
Moomoo SG's grey market trading operates on an independent internal matching system. As a result, it is normal for prices, bid/ask quotes, and order book depth displayed on Moomoo SG to differ from those shown on other platforms.
Note: Certain brokers may connect to the same upstream liquidity provider or matching venue, in which case their quoted prices and order book information may appear identical.