Sample Name
Sample Code
Sample Name
Sample Code
Sample Name
Sample Code
4
Eldorado Gold
EGO
5
Harmony Gold Mining
HMY
Trading and settlement mechanism
1. Trading mechanism
Grey market trading adopts a T+0 trading mechanism. Shares allocated through an IPO subscription, as well as shares purchased during the grey market session, may be sold on the same day during grey market trading.
An electronic daily statement containing details of grey market trades will be sent to the client's registered email address on the next trading day following the grey market trading session (which is generally the IPO listing date).
2. Settlement mechanism
Grey market trades are settled on the second trading day after the IPO listing date (L+2).
Where margin financing is used for grey market trading, interest on the financed amount will also begin to accrue from L+2.
Example:
Assume that the grey market trading session for IPO Stock A takes place on 04 May 2026 (Monday), and the stock is officially listed on the stock exchange on 05 May 2026 (Tuesday).
The settlement date and the date from which margin interest begins to accrue will be 07 May 2026 (Thursday), being the second trading day after the listing date (L+2).
Market Insights
Decoding Long-Term Outlook of Precious Metals Decoding Long-Term Outlook of Precious Metals
ARK ETFs ARK ETFs
The ARK ETFs concept includes several ETFs across different strategies managed by ARK Invest. ARK Invest is an investment firm founded by Cathie Wood. The ARK ETFs concept includes several ETFs across different strategies managed by ARK Invest. ARK Invest is an investment firm founded by Cathie Wood.
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