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BNY Mellon and Shanghai Stock Exchange to bring DR indices to China


BNY Mellon and the Shanghai Stock Exchange have signed a memorandum of understanding to collaborate on exchange-traded funds based on the BNY Mellon Depositary Receipt Indices to be traded on the Shanghai Stock Exchange. 

The memorandum grants exclusivity to the SSE for the listing of ETFs which use the BNY Mellon DR Indices as a benchmark within the People’s Republic of China. 

“Our innovative DR Indices are the basis for many ‘first to market’ ETFs representing the emerging and frontier markets,” says Gregory Roath, head of Asia Pacific for BNY Mellon’s depositary receipts business. “The inclusion of Chinese single-listed ADRs in our indices will enable potential ETF sponsors to offer an investment product that includes offshore listed Chinese companies such as Baidu, Netease, Home Inns and Ctrip. These companies, which trade exclusively in DR form outside of China, are often left out of many other major indices.”

Calculated on a continuous basis throughout the trading day, the BNY Mellon ADR Index is capitalisation-weighted and adjusted for free-float using Dow Jones’ Indexes methodology.

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