ADR Direct enables institutional investors, electronically and anonymously, to trade ordinary shares in the home market on an agency basis, receive live foreign exchange rates, and simultaneously settle trades in the US using ADRs, according to a news release.
The platform’s new capabilities include:
- the centralization and electronic linking of ADR and local market settlement information
- ADR and ordinary share trading identifiers
- corporate actions
- client allocation instructions in ADR
- delivery instructions for non-US markets and foreign exchange.
BoNY is a depositary for American and global depositary receipts, allowing non-US companies to offer dollar-denominated securities to investors worldwide. The bank currently issues depositary receipts for more than 1,400 programs representing 70 countries and accounts for 67% of all public sponsored depositary receipt programs, according to the news release.