Citi Depositary Receipt Services Year End 2016 Report

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1 Data as of December 31, 2016.
2DR trading volume has been unadjusted for certain corporate actions
including stock splits, stock dividends and rights offerings.
DR ACCESS PRODUCTS
ABOUT CITI DEPOSITARY
RECEIPT SERVICES
INTERNATIONAL
INVESTING TRENDS
REGIONAL TRENDS
GLOBAL DR TRENDS
Top 5 Most Liquid DR Programs1,2
DR Trading Volume1,2
44.9
22 %
21%
9% 7%
7%
5%
5%
5%
4%
3%
12%
SOUTH AFRICA
UK
RUSSIA
LUXEMBOURG
SWITZERLAND
NETHERLANDS
FRANCE
FINLAND
SPAIN
OTHER
ISRAEL
Total DR Trading Volume: 69.3B
Source: Bloomberg.
Issuer Country Exchange
2016 Volume
(DR Millions)
ArcelorMittal Luxembourg NYSE 5,659.7
Gazprom PJSC Russia LSE 4,051.5
Nokia OYJ Finland NYSE 3,411.7
Sberbank of Russia PJSC Russia LSE 2,828.2
Royal Dutch Shell plc UK NYSE 2,012.4
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Citi Depositary Receipt Services Year-End 2016 Report