________ are negotiable certificates issued by a bank to represent the underlying shares of stock, which are held in trust at a foreign custodian bank.

Question

Quizplus · Accepted Answer

Depositary receipts are specifically designed for trading securities in foreign markets. They represent underlying shares of stock that are held in trust by a foreign custodian bank. This allows investors to trade foreign shares without having to deal with the administrative, currency, and settlement issues associated with buying stocks on international exchanges.

________ Are Negotiable Certificates Issued by a Bank to Represent