Questions tagged [depositary-receipts]

A depositary receipt (DR) is a negotiable financial instrument issued by a bank to represent a foreign company's publicly-traded securities.

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What are ADR prices based on when the foreign stock exchange is closed?

The price of an ADR is based on its underlying security's price on its home stock exchange. However, the home stock exchange is not necessarily open during the same hours as the US stock market. ...
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Why do we need a depository and clearing center today?

I imagine that Back In The Day, the depository kept real securities in some safe and gave physical receipts about the presence of such a quantity of funds in such an account. Today, though, all ...
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Why do companies issue depositary shares for preferred stock instead of issuing preferred stock directly?

I was looking at the list of US Bancorp preferred stock issues. Among them are: Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series B Non-Cumulative Perpetual Preferred ...
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What fees do CREST Depository Interest (CDI) shareholders have to pay on a regular basis?

In the US, depository banks for ADRs usually charge depository fees to the owners of ADR shares. To collect the fees, the depository bank could reduce the dividend paid to ADR owners. The fees are ...