1. Depositary Receipts
(1) Definition of Depositary Receipts
Depository receipts refer to transferable certificates circulating in foreign securities markets representing the securities of foreign companies . Depositary receipts generally represent foreign company shares and sometimes bonds.
(2) Relevant business institutions of American Depositary Receipts (ADR)
depository bank
ADR issuers and ADR market intermediaries
Bank of Trustees
A bank arranged by a depository bank in the country of issue of the underlying security
central hosting company
Custody and Liquidation of ADRs
(3) Chinese Depositary Receipts (CDR)
Chinese depositary receipts refer to securities issued by depositors, issued in China on the basis of overseas securities , and representing the rights and interests of overseas underlying securities
Participants : issuers, depositors, holders
2. Structured financial derivative products
(1) Definition of structured financial derivatives
The most popular structured financial derivative products are mainly various structured wealth management products developed by commercial banks and various structured notes listed and traded on exchanges .
(2) Types of structured financial derivative products
Classification by linked base product
commodity-linked product
equity-linked products
Currency Linked Products
Interest Rate Linked Products
Classified by income guarantee
Return Guaranteed Products
Non-revenue-guaranteed products
Classified by distribution method
Publicly offered structured products (typically tradable on exchanges )
Private Equity Structured Products
