BNY Mellon and OTC Markets Group, the financial marketplace operator for 10,000 U.S. and global securities, have a created an index for OTC-traded ADRs
The OTCM ADR Index, powered by BNY Mellon DR Indices, was developed to benchmark the fast-growing and diverse number of ADR investment opportunities available to investors through their U.S. brokers. Since 2002, the total number of ADRs trading on the OTCQX, OTCQB and OTC Pink marketplaces has increased more than fivefold, from 248 to 1,420. In the first nine months of 2012, 251 new OTC ADR programs were established.
The OTCM ADR Index comprises 535 large-cap international companies in 38 countries and across 10 industries.
“ADRs offer U.S. investors convenient access to global investment opportunities, and we’re pleased to work with BNY Mellon in offering this first-ever comprehensive benchmark for the largest and most liquid ADRs,” said R. Cromwell Coulson, president and CEO of OTC Markets Group. “By tracking this important asset class, the OTCM ADR Index furthers our mission to create better informed and more efficient financial marketplaces.”
“The OTCM ADR Index spotlights some of the world’s most well-known companies,” said Julio Lugo, head of BNY Mellon DR Indices. “We believe it’s an important next step in our 15 years of creating and disseminating ADR indices.”
(JDC)