ADR Trading Volume Jumped To a Record $1.58 trillion in 2006

In 2006, trading volume for ADRs (shares of foreign companies that trade in the U.S.) surpassed $1.58 trillion, up from $963 billion in 2005, according to data from J.P. Morgan Worldwide Securities Services, reports WSJ.

There are 450 ADRs listed on major U.S. exchanges, such as the New York Stock Exchange, Nasdaq and the American Stock Exchange, according to J.P. Morgan.

The 10 largest ADRs account for more than 25% of total ADR investment value, according to Bank of New York, including Mexican wireless provider America Movil, oil major Royal Dutch Shell PLC and British pharmaceutical giant GlaxoSmithKline PLC.

Nearly $1.9 trillion of DRs traded on U.S. and non-U.S. markets and exchanges during 2006, an increase of 58% year-on-year. Issuers from 25 countries -- the large majority emerging markets -- completed 129 new primary and follow-on DR offerings, raising a record $44.5 billion. Industry-wide, a record 1,985 sponsored DR programs from 76 countries with a market value exceeding $1.2 trillion are now available to investors, according to Bank of New York.

The total value of U.S. investment in non-U.S. equities (both DRs and non-U.S. shares) increased to $3.5 trillion as of September 30, 2006, an increase of 25% from the same time last year.

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