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Help Center Trading Trading in HK Market Grey Market What Are the Buying Power Restrictions for Grey Market Trading?

What Are the Buying Power Restrictions for Grey Market Trading?

As grey market trading is conducted over-the-counter (OTC), and all orders are subject to the risk of cancellation, the net cash proceeds from the sale of grey market shares cannot be used to purchase other stocks. Such proceeds will be frozen until the IPO is successfully listed or the listing is cancelled.

For example:

Assume you hold Grey Market Stock A and have a cash balance of HKD 0 in your account. During the grey market trading session, you sell Stock A for HKD 2,000. The HKD 2,000 sale proceeds will be frozen. During the period in which the HKD 2,000 is frozen:
  1. If you wish to buy Stock B during normal market trading hours, your buying power for Stock B will be HKD 0.
  2. If you wish to buy Grey Market Stock C during the grey market trading session, your buying power for Stock C will be HKD 0.
  3. If you wish to repurchase Grey Market Stock A during the grey market trading session, your buying power for Stock A will be HKD 2,000.
Note: The frozen proceeds may only be used to repurchase the same grey market stock that generated the sale proceeds and cannot be used to purchase other securities until the IPO listing outcome is confirmed.

 

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