ADR

Either:

• American depositary receipts - a way of getting synthetic exposure to securities in hard-to-access markets
• Alternative dispute resolution — mealy-mouthed time-wasting for people in denial about the legal system

The Jolly Contrarian’s Glossary The snippy guide to financial services lingo.™ →Go uptown Top Trumps®Financial Weapons of Mass Destruction® ADR “It’s not synthetic equity. Just calm the hell down.” Docs The Full American: US bond docs, plus security and custody. Lots of it, all dull. 6 Amendability Nope, but why would you? 5 Collateral Fully, and delta-one. 0 Transferability Seeing as that’s the point, yes. Safely transferable. 0 Leverage Zippo the Hippo. 0 Fright-o-meter Disney grade only. Suitable for all the family — Unless the issuer is in a scary foreign jurisdiction in which case OMEN GRADE 8 Index — Click the ᐅ to expand: Glossary Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.