Grey market is most typically used in reference to goods that are imported from overseas, but sold in the USA. (Huh?) These goods are not slated for sale in the US, they do not carry US warranties, and if they break, you are out of luck.
Example: If there is a particular camera model that is for sale in Japan, and possibly the US. You want to buy that camera, but do not like the price tag. Then you see a store in Chinatown selling it (cash discount) for about 30% off. Odds are, that is a grey market camera.
It was imported to the US through unofficial channels (not by the manufacturer or official distributor) and does not carry a US warranty. But, it is the real deal, it is not counterfeit, it comes with all the accessories, etc...
Now, as to stocks, and the term Grey Market, well, I don't have any idea. Have you tried Yahoo! Answers?|||I recently took a marketing class in school and a gray market was defined as flow of products through distribution channels other than those intended by the manufacturer or producer. I guess this can be related to stocks if they are sold through channels that are not typical or not authorized. Wikipedia says gray markets are not always illegal.
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