Final if Ppt

Depository Reciept
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  “ A security designed to make investing outside of one’s home country easier”    What are depository receipt ?  A depositary receipt (DR  ) is a type of negotiable (transferable) financial security that is traded on a local stock exchange but represents a security, usually in the form of equity, that is issued by a foreign publicly listed company.  The DR, which is a physical certificate, allows investors to hold  shares in equity of other countries. introduction  EXAMPLE  A gas company in Russia has fulfilled the requirements for DR listing and  now wants to list its publicly traded shares on the NYSE in the form of an ADR.   Before the gas company's shares are traded freely on the exchange, a U.S. broker, through an international office or a local brokerage house in Russia, would purchase the domestic shares from the Russian market and  then have them delivered to the local (Russian) custodian bank of the depository bank.   The depository bank is the American institution that issues the ADRs in America.
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