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.  

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. 

MAY 2021

Corporate Access Through COVID-19 and Beyond

BNY Mellon, in conjunction with Greenwich Associates, interviewed 38 U.S.-based portfolio managers representing nearly $610 billion total Equity Assets Under Management (EAUM). This latest piece of thought leadership focuses on corporate access and interaction between issuers and investors.

Depository Receipts by the Numbers*

  • #1
    global depository bank by number of sponsored DR programs
  • 733
    BNY Mellon sponsored DR programs
  • $738B
    DR assets under custody

*As of December 31, 2020

Our Insights

APRIL 2021

The Year Ahead: The Depositary Receipts Market in 2021

This year we’re taking a different approach to sharing our perspectives on the Depositary Receipts market. Rather than a recap of the past year’s activity, we’re focusing on where we are today and what lies ahead for 2021.

MAY 2020

Issuer Services: Future Focused

Our clients are at the center of everything we do at BNY Mellon, and our global teams are fully dedicated to delivering the services you depend on. In these challenging times, we are doing everything we can to ensure we meet your needs as we navigate these uncharted waters. On behalf of our Issuer Services team around the world, we are with you, and we will get through this together.


February 2020

Global Trends in Investor Relations

Who is driving the global ESG agenda—issuers or investors? The structure of the sell side is changing—how is that affecting investor relations (IR) teams? What tweaks are IR teams making to their strategies going into the new decade, and what global issues do they think will impact the markets the most in the 2020s?


SEC Proposes Amendments to U.S. Federal Proxy Rules

To outline the Proposed Rules and their potential impact, BNY Mellon Depositary Receipts, in association with Debevoise & Plimpton LLP, has published an overview of the Proposed Rules as part of its IR Best Practices Insight series.


Disclosure on Gender Diversity

The goal of gender diversity has become a prominent topic in corporate social responsibility diversity discussions in recent years. Investors have formed networks and coalitions that focus on and advocate for gender diversity.

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