Cross-border access, simplified
Increased globalization and investor appetite for diversification offer a unique opportunity to 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 US 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*
- #1global depository bank by number of sponsored DR programs remains
- 622BNY Mellon sponsored DR programs
- $291BDR assets under custody
*As of August 23, 2022