Sale of securities that have not been officially issued yet by a firm that is not part of the underwriting syndicate.
Gray market goods are products that were meant for import into countries other than the United States. They are usually of identical quality as non-gray items, but sometimes will have different accessories or the user manual might not be in English. Also, most gray market products will not be warranted by a U.S. repair facility.
Refers to goods that are sold for a price lower than, or through a distributor different than, that intended by the manufacturer. Most commonly, goods that are intended by their manufacturer for one national market that are bought there, exported, and sold in another national market.