Depositary Receipts

Connecting issuers and investors globally


We provide Depositary Receipt (DR) services to the global capital markets, delivering customized and market-driven solutions for issuers, brokers and investors. We are a pioneer in the DR market and our execution and expertise have helped us achieve a leadership position in the industry.


We offer a full range of buy side and sell side services to help facilitate financing in the global capital markets via DRs including, local custody arrangements, issuances and cancellation and structuring corporate actions.  

The Depositary Receipts Opportunity

Discover how Depositary Receipts can align with your capital markets goals with our insightful guide on the Depositary Receipts Opportunity.

Cross-border access, simplified

Increased globalization and investor appetite for diversification offer a unique opportunity for issuers looking to tap a new investor base, expand awareness, or raise capital using DRs. Issuers can have their shares traded over-the-counter or listed on U.S. stock exchanges in the form of American Depositary Receipts or on European exchanges in the form of Global Depositary Receipts.

The DR product is a negotiable security providing investors, brokers and issuers with a more convenient way to invest in the securities of a foreign issuer.

  • BNY Mellon manages local custody arrangements through its global network of banks
  • Familiar trade, clearance and settlement procedures
  • Quotes and dividend payments in U.S. dollars
  • Ability to acquire the underlying securities directly upon cancellation
  • Eligible within DTC, Euroclear and Clearstream

While DRs are generally used as a cross-border equity financing structure, the same structuring process can be expanded for debt instruments including Global Depositary Notes representing a sovereign entity’s locally traded debt.

A trusted partner 


BNY Mellon Depositary Receipts is independent from the influence of investment banking, trading and research, allowing us to support our DR clients’ access to a wider range of market opportunities. 


We have specialists dedicated to helping issuers fully realize market access with investor relations and ESG advisory solutions, Market Connect services and analytical solutions. 

Depositary Receipts by the Numbers*

  • #1
    Global depository bank by number of sponsored DR programs
  • 544
    BNY Mellon sponsored DR programs
  • $341B
    DR assets under custody

*As of January 1, 2024

Expert Points of View

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