ADR

The Jolly Contrarian’s Glossary
The snippy guide to financial services lingo.™

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

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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