Page 9 - Citi Depositary Receipts Year-End 2013 Report - January 2014

5 Year-End 2013 Report| Global DR Trends
Top Ten Most-Liquid Programs1
(As Measured by Trading Volumes)
Top Ten Most-Liquid Programs1
(As Measured by Trading Values)
DR Liquidity (continued)
Company Country Exchange 2013 Volume
(DR Millions)
Nokia OYJ Finland NYSE Euronext 9,760
Vale SA Brazil NYSE Euronext 6,317
Gazprom OAO Russia LSE 6,254
Petroleo Brasileiro SA (Petrobras) Brazil NYSE Euronext 6,135
Alcatel-Lucent France NYSE Euronext 4,040
VTB Bank OJSC Russia LSE 3,851
Sberbank of Russia Russia LSE 3,829
Cemex SAB de CV Mexico NYSE Euronext 3,517
AMBEV SA Brazil NYSE Euronext 2,945
Vodafone Group PLC UK NASDAQ 2,693
Issuer Country Exchange 2013 Value
(USD Billions)
Baidu Inc China NASDAQ 116
Vale SA Brazil NYSE Euronext 101
Petroleo Brasileiro SA (Petrobras) Brazil NYSE Euronext 100
Vodafone Group PLC UK NASDAQ 82
BP PLC UK NYSE Euronext 59
Royal Dutch Shell PLC Netherlands NYSE Euronext 56
Gazprom OAO Russia LSE 53
Sberbank of Russia Russia LSE 48
Nokia OYJ Finland NYSE Euronext 46
Taiwan Semiconductor Manufacturing Co Ltd Taiwan NYSE Euronext 45
Source: Bloomberg Financial Markets and Depositary Data Interchange
Source: Bloomberg Financial Markets and Depositary Data Interchange
1Data as of December 15, 2013.