Depositary Receipt Trading Value Tops $2 Trillion for the First Time
October 23 2007 - 8:30AM
PR Newswire (US)
First Nine Months of 2007 Show 53% Rise Over Last Year NEW YORK,
Oct. 23 /PRNewswire-FirstCall/ -- The Bank of New York Mellon, a
global leader in asset management and securities servicing,
announced today that American and global depositary receipt (DR)
trading value topped $2 trillion for the first time ever. As of
September 30, 2007, year-to-date DR trading value reached $2.270
trillion, a 53% increase over the same period last year. The major
U.S. stock exchanges -- the New York Stock Exchange, NASDAQ and the
American Stock Exchange -- were the most active markets by a
significant margin. A record 53.1 billion U.S.-listed DRs, valued
at $1.872 trillion, traded on U.S. exchanges during the first nine
months of 2007. Compared with 38.7 billion DRs valued at $1.112
trillion during the first nine months of 2006, this year's numbers
represent increases of 37% in trading volume and 68% in trading
value. European-listed DR trading also showed strong growth. The
London Stock Exchange reported $318 billion of DRs traded on the
International Order Book, the primary trading platform for non-U.S.
listed DRs. At the end of September, International Order Book
trading value was 45% higher year-on-year. Over-the-Counter, Rule
144A and other DR markets in the U.S. saw $75 billion of DR trading
value during the first nine months of 2007, according to The Bank
of New York Mellon estimates. Continuing recent trends, DR programs
from emerging market issuers were among the most active. During the
first nine months of 2007, eight DR issuers saw more than $50
billion in trading, and six were from emerging markets. China's
Baidu.com was the world's most active, with DR trading value of
more than $98 billion on NASDAQ. Brazil's CVRD and Petrobras, as
well as Mexico's America Movil, were among the New York Stock
Exchange's most active DRs. London Stock Exchange-listed Gazprom
and Lukoil from Russia were also among the top eight DRs. The Bank
of New York Mellon's Depositary Receipt business is conducted
through The Bank of New York subsidiary, which acts as depositary
for more than 1,270 American and global depositary receipt
programs, acting in partnership with leading companies from 60
countries. With an unrivalled commitment to helping securities
issuers succeed in the world's rapidly evolving financial markets,
the Company delivers the industry's most comprehensive suite of
integrated depositary receipt, corporate trust and stock transfer
services. Additional information is available at
http://www.adrbny.com/. The Bank of New York Mellon Corporation is
a global financial services company focused on helping clients
manage and service their financial assets, operating in 37
countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior
asset management and wealth management, asset servicing, issuer
services, clearing services and treasury services through a
worldwide client-focused team. It has more than $20 trillion in
assets under custody and administration, more than $1.1 trillion in
assets under management and services $11 trillion in outstanding
debt. Additional information is available at bnymellon.com. This
information and data is provided for general informational purposes
only. The Bank of New York Mellon does not warrant or guarantee the
accuracy or completeness of, nor undertake to update or amend this
information or data. We provide no advice nor recommendation or
endorsement with respect to any company or securities. Nothing
herein shall be deemed to constitute an offer to sell or a
solicitation of an offer to buy securities. Depositary Receipts:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED MAY LOSE VALUE NO BANK,
STATE OR FEDERAL AGENCY GUARANTEE DATASOURCE: The Bank of New York
Mellon Corporation CONTACT: Joseph F. Ailinger, Jr.,
+1-617-722-7571, ; or Dori Flanagan, +1-212-815-2291, , both for
The Bank of New York Mellon Corporation Web site:
http://www.bnymellon.com/ http://www.adrbny.com/
http://www.baidu.com/
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