ICAP has been a specialist in ADR cross-book conversions for pan-European and Asian equities for over 10 years.
We service buy-side – whether mutual funds or hedge funds – and sell-side brokers along with investment banks. Our service provides total clarity to the ADR process when executing in the local underlying stock. We can execute the local stock and swap ORDs into ADRs resulting in a dollar fill, or we can simply transfer ORDs into ADRs (or vice versa) by sourcing liquidity in the cross-book market.
With our global presence, we can also unwind positions for European entities wishing to trade in the US after the European close, providing an execution report in the underlying security settling in the local currency.
For more information, please contact the relevant address: