ADR Conversions

American Depository Receipt (ADR) Conversions

Voluntary Election Tool for American Depository Receipt (ADR) Conversions

An ADR trades like a stock but is composed of ordinary shares of a foreign corporation. ADRs provide a convenient and cost-effective way to buy foreign shares without incurring foreign tax obligations on each transaction. While ADR prices tend to follow the price of the foreign underlying shares, prices may diverge to create an arbitrage opportunity.

Our Voluntary Election Tool provides a simple process for converting ADRs into the underlying foreign shares. To access the Voluntary Election Tool, log in to Portal and click the Conversions tab. Additional information on using the Voluntary Election Tool is available in our Knowledge Base.

Note that the number of ordinary shares that make up each ADR varies and the ratio of shares to ADR is indicated by the ADR ratio. For example, a ratio of 2:1 indicates two ordinary shares per one ADR. If the shares were trading at USD 35.00, the price of the ADR would likely be around USD 70.00.

For non-supported ADRs, submit an Inquiry Ticket using the Secure Message Center in Portal.

Supported ADRs

Ordinary Shares (ORD) ORD Symbol ORD ISIN Ratio (ORD to ADR) ADR Symbol ADR ISIN Creation Fee/share Redemption Fee/share Fee Cablewire Fee
No Supported ADRs are available.

Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines. Interactive Brokers Canada Inc. is an order execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Our registered office is located at 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.


Know Your Advisor: View the CIRO AdvisorReport