| The European Union Prospectus Directive and Depositary Receipt Ratio Changes |  |
BNY Mellon is following the EU Prospectus Directive consultation process closely. The directive impacts emerging market issuers listed on European Regulated Markets.
| Managed Account Solutions: An Increasing Source of Depositary Receipt Demand | |
The proliferation of global asset allocations within the managed account solutions industry presents a significant opportunity to augment demand for depositary receipts (DRs). This is due to the fact that most managed account solutions use DRs to diversify globally. As the world's leading depositary, BNY Mellon continuously monitors the DR market to identify these types of noteworthy market trends and leverage them on behalf of clients.
| 2008 US IPO Watch | |
US IPO Watch is a report prepared by PricewaterhouseCoopers providing an analysis of the US IPO market. This report includes an analysis of successful deals in 2008 and outlines factors that will drive 2009 IPOs. It should be useful to any executive of an organization considering an IPO. The full report can be viewed here.
| Depositary Receipts: Creating Value Across Emerging Markets | |
American and global depositary receipt (DR) programs established by companies from emerging markets boost their domestic share prices and improve their home-market liquidity, according to a study conducted by independent research firm Oxford Metrica and sponsored by BNY Mellon. The research found that shareholder value rose on average by up to 20 percent over one year and share liquidity improved by 40 percent over one year as a result of listing a DR program on a U.S. or European stock exchange. The DR programs of 628 firms were analyzed, covering the period from 1980 to 2007.
| Elevating Market Visibility for your DRs: Looking to Canada for DR Demand | |
Over the past several years, we recognized a steady rise in DR investment on the part of Canadian institutions. This welcome trend resulted from the repeal of a Canadian rule that had restricted pension funds' capacity to invest globally. Our Depositary Receipt Division's Global Capital Markets Group took the opportunity to access this growing investor base and began an intensive educational effort in Canada.
| OTCQX: A Venue For Cross-Listing DRs in the U.S. | |
We consistently look for ways to help clients' ADRs gain greater visibility and liquidity. A Pink Sheets program with many of the benefits of a U.S. exchange cross-listing offers just that and without SEC registration requirements.
| White Paper: A New U.S. Market for Shares of Quality Foreign Issuers | |
Tom Siebens and Randy Ali of the lawfirm Milbank, Tweed, Hadley & McCloy discuss OTCQX and its impact on issuers.
| Oxford Metrica DR Study | |
Oxford Metrica, a global independent strategic advisor, conducted extensive Depositary Receipt (DR) research, which revealed that companies which have launched DR programs on U.S. exchanges have increased the value of their share prices in their local markets by up to 10 per cent over one year and have improved liquidity by 27% on average. Terminating a DR has the opposite effect, dropping a company's share price by up to 25 per cent over a year. The research was conducted on a representative universe of 767 DR programs between 1980 and 2003.
| Socially Responsible and Sustainability Investing in N. America | |
This paper explores the growth of socially responsible and sustainability investing in North America and the opportunities this presents to DR issuers.
| White Paper - Corporate Social Responsibility: Does Good Governance Require It? | |
To what extent do corporations have social responsibility in today's globalized world? This white paper explores corporate social responsibility for international companies and addresses the important role of the investment community in allocating capital to companies that demonstrate a sound socially responsible strategy.
| Sell-side Research Model Innovations - Challenges and Opportunities for DR Issuers | |
Based on a panel discussion hosted by BNY Mellon in the spring of 2009, this memorandum gives an overview of emerging trends in the market that have resulted in a shifting of the sell-side research model. With this information, issuers may be able to better recognize opportunities within the changing dynamics of the current marketplace.
| DIRK White Paper: 'Stress in the City' | |
Changes in the daily life of fund managers and financial analysts and recommendations for how executive board members and IR managers can get prepared.
| Benchmarking the Depositary Receipt Industry: BNY Mellon GDR and DR Indices | |
Providing the market with American depositary receipt (ADR) indices for a decade, we now offer a full suite of global depositary receipt (GDR) indices as well. So no matter the type of depositary receipt you wish to track, we have the index you need.
| BNY Mellon ADR Index | |
We offer the only real-time index to track all depositary receipts listed on the NYSE, NASDAQ and NYSE Amex stock markets.
| Going Public: A Guide for European Companies... | |
Taking a company through a public offering on the U.S. securities markets is a major undertaking. This guide will help you understand what may be required from your company in dealing with the U.S. Securities and Exchange Commission, other U.S. regulators, investors, and securities analysts.
| Evaluating the Value & Liquidity Effects of DRs: Latin America | |
Oxford Metrica, a global independent strategic advisor, conducts extensive research on the Depositary Receipt (DR) market. This analysis focuses on the value and home market liquidity effects of DR programs established by Latin American firms.
| HEC Study: The Importance of DRs in Public Offers for U.S. Companies | |
HEC, a leading French Business School, examines using Depositary Receipts as an acquisition currency in the American statutory context. The author, Thibaut Ardaillon, analysed the levels of premiums paid over the course of the last decade for the acquisition by foreign and American companies, of listed U.S. companies.
| WWW.ADRBNYMELLON.COM: An Interactive Resource for DR Intelligence | |
Recognizing the importance of a single source for depositary receipt (DR) facts and figures, BNY Mellon offers just that. With ADRBNYMELLON.COM, we bring the worldwide DR market to your fingertips.
