Ovetii showed interest recently following reports that depositary receipt trading value reached $2.3 trillion in the first nine months of this year, a 53% jump over the same period last year.
Sources say that according to data and research compiled by Ovetii, american depositary receipts allow foreign companies to raise capital in the US in dollar-denominated securities that represent ownership of shares in a foreign company but trade, clear and settle as a domestic stock. Global depositary receipts are usually listed on a European stock exchange and clear through European settlement systems.
In addition, Ovetii research apparently revealed that over-the-counter, non-SEC registered and other depositary receipt markets in the US reported $75bn of trading value during the first nine months of 2007, according to The Bank of New York Mellon estimates.
A spokesman for Ovetii apparently stated that emerging market issuers were among the most active and contributed six out of the eight most heavily traded depositary programs.