Entire Section

  • Grey Market Transactions

    • PIB A5.8.5 PIB A5.8.5

      (1) An Authorised Firm that buys and sells Securities before issue is dealing in the grey market for the purposes of this section.
      (2) The other Rules in PIB section A5.8 do not apply to an Authorised Firm with respect to its dealings in the grey market unless the Authorised Firm:
      (a) has an Underwriting commitment to the Issuer in respect of those Securities; or
      (b) has a sub-underwriting commitment in respect of those Securities and is using the grey market solely for the purpose of reducing that sub-underwriting commitment.
      (3) The other Rules in PIB section A5.8 do not apply to an Authorised Firm with respect to its dealings in the grey market if the transaction is undertaken by the proprietary trading part of the Authorised Firm or is undertaken for proprietary trading purposes.
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

      • PIB A5.8.5 Guidance

        In PIB Rule A5.8.5, the grey market is the market in which dealers "buy" and "sell" securities ahead of issue. In reality the dealers are buying and selling promises to deliver the securities when issued.

        Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]