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American depositary receipt: Difference between revisions
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{{ADR - FWMD}}''Not to be confused with [[synthetic equity]] derivatives. Or a [[GDR]] for that matter.'' | |||
An [[American depositary receipt]], or “[[ADR]]”, is a way of getting [[Synthetic trade|synthetic]] exposure to securities in hard-to-access markets. They were introduced in 1927<ref>Fun fact: The first [[ADR]] was introduced by [[J.P. Morgan]] on fusty British haberdasher Selfridges.</ref> as an easier way for [[US person|U.S. investors]] to buy foreign stock. Before [[ADR]]s came along, [[US person]]s wanting to buy non-U.S. listed shares had to buy the shares on international exchanges in the local currency, with all the [[FX]] and regulatory hair that entails. | An [[American depositary receipt]], or “[[ADR]]”, is a way of getting [[Synthetic trade|synthetic]] exposure to securities in hard-to-access markets. They were introduced in 1927<ref>Fun fact: The first [[ADR]] was introduced by [[J.P. Morgan]] on fusty British haberdasher Selfridges.</ref> as an easier way for [[US person|U.S. investors]] to buy foreign stock. Before [[ADR]]s came along, [[US person]]s wanting to buy non-U.S. listed shares had to buy the shares on international exchanges in the local currency, with all the [[FX]] and regulatory hair that entails. | ||