A depository receipt is a security that represents ownership in a foreign security.
They provide opportunity for investors in a country to trade or transact on their domestic stock exchanges a security whose underlying is a foreign security. They have the benefit of trading the instrument through their familiar broker in the same way they trade their country's securities.
http://knol.google.com/k/narayana-rao-kvss/american-depository-receipts/2utb2lsm2k7a/175
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