---
title: "Why does the \"grey market opening price\" in the Longbridge grey market trading system not display before the grey market trading starts at 16:15?"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42234153.md"
description: "Longbridge team brothers: I have noticed that in Longbridge's grey market trading and US stock IPO first-day trading, the interface does not display the "matching opening price" before trading starts, nor does it prompt that the order submission phase for the opening price begins a few minutes before the market opens. When a US stock IPO lists for the first day, the system does not indicate the specific opening trading time for the listing day (using SPCX as an example). Please address the above issues."
datetime: "2026-06-26T09:05:22.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42234153.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42234153.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42234153.md)
author: "[侃侃人生](https://longbridge.com/en/profiles/14794487.md)"
---

# Why does the "grey market opening price" in the Longbridge grey market trading system not display before the grey market trading starts at 16:15?

Longbridge team brothers:

I have noticed that in Longbridge's grey market trading and US stock IPO first-day trading, the interface does not display the "matching opening price" before trading starts, nor does it prompt that a few minutes before the opening will enter the order submission stage for the opening price. When a US stock IPO is listed on its first day, the system does not prompt the specific opening trading time for the first day of listing (taking SPCX as an example)?

Please respond to the above issues as soon as possible... Thank you!

### Related Stocks

- [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md)

## Comments (5)

- **FIFI · 2026-06-26T09:18:44.000Z**: There is an IPO issue price before the grey market starts. Are there any examples seen elsewhere regarding the matched issue price? The grey market is matched by brokers, and trading starts directly at the set time.
  - **侃侃人生** (2026-06-26T09:26:05.000Z): I'm not familiar with the specific rules for participating in the grey market for the first time; according to your explanation, can any participant place an order before the market opens to participa
- **FIFI · 2026-06-26T09:16:23.000Z**: Spcx does not display the market opening time because the opening price on the first day is determined by the large volume of tradable orders that the listed company can aggregate, and this time is not fixed.
  - **侃侃人生** (2026-06-26T09:46:33.000Z): Regarding the first day of a US stock listing, the Longbridge system does not display the matched opening price and opening time. This seems to have little to do with the "non-fixed opening time&#