Citi Depository Receipt Services Mid-Year 2017 Report

2017 Mid-Year Highlights

• Depositary receipt (DR) capital raising totaled

$4.1 billion globally

• DR trading volume was down 10% to 72.2 billion shares

in the first half of 2017 versus 79.9 billion in 2016

• U.S. investment in non-U.S. equities as of Q1 2017

was $7.6 trillion, up 8% from Q4 2016 level of $7.1 trillion

• The value of DRs held by institutional investors totaled

$850 billion as of Q2 2017

• The pool of unsponsored ADR programs remains

strong at 1,671 programs

• Citi was named ‘Best DR Bank’ in Asia in

The Asset

magazine’s 2017 Triple A Asset Servicing, Investor

and Fund Management Awards