Talk:Global depository receipt

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“Represent an ownership interest”

I'm not sure they do represent an ownership interest, do they? GDRs represent a secured debt claim against the depositary. The Depositary is the beneficial and legal owner of the shares. The point of GDRs is to be market access products for investors who cannot own the underliers directly. I am not an expert in this market but consider rewording this as "GDRs replicate the economics of ownership in the underlying shares without legal or beneficial ownership." ElectricRay (talk) 11:30, 12 June 2019 (UTC)[reply]

Spelling

Why is this depository and not depositary? The latter seems more common...

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