Philippine stocks available through ADR Direct
Access to Philippine stocks has become much more simple with
the release of technology provider ConvergEx’s ADR Direct.
Participants can now trade ordinary shares in the
Philippines and convert them to American depositary receipts (ADRs), which
according to ConvergEx helps investors minimise market impact and reduce
explicit trading costs while enjoying a real-time view of the components of
their trades. ADR Direct allows clients to trade ordinary shares overseas, convert them into ADR format and receive a net ADR price in US dollars in real-time, settled in the US.
The service uses global equity execution and clearing
technology to execute conversion trades in 32 countries through any order
management and execution management systems. Indonesia, Korea, Thailand, Malaysia
and Turkey and Poland are other markets which have recently been added.
“Offering access to these additional sources of local
liquidity gives our customers greater flexibility and expanded access to
emerging markets,” said Andrew Levine, managing director and head of ConvergEx’s
ADR business. “Our customers also have the benefit of our dedicated ADR desk,
which is able to provide guidance on foreign ownership limitations and
corporate actions, especially in emerging markets.”