American Depositary Receipt (ADR)

An ADR is a stock that trades in the United States but represents a specified number of shares in a foreign corporation. ADR agents (banks and investment banks) purchase stocks on foreign exchanges and then sell receipts for these shares on American exchanges. ADR agents charge these ADR fees to compensate for inventorying the foreign stocks and all other costs involving registration, compliance and recordkeeping services.

The ADR Fees will vary for each counter and you will be billed according to the shareholdings for each ADR shares.