re: adr's (a bit of research), page-7

re: adr's (a bit of research) Great educational thread Sandys, GiddyYup et al.

While we're on the topic, perhaps we can now clarify ADR impact on XTOS transactions:

jeffian wrote 20/6 "Its an interesting situation where the ADRs are being topped up. I wonder why at times there has been comparison made by SSN between the two prices if they try and match the prices.
It seems pointless to make any comparison as all it would be stating is how efficient they are at matching the price at the end of each trading day."

Biarra replied that his " understanding is that it is not so much about price matching but the movement of excess shares in ADR's or ASX shares by Nat Nominees."

So from today's thread comments, you would think that excess ADR interest in USA would mean that more Ordinary Shares would need to be purchased 'at market', rather than swapped at the ADR traded currency conversion price. But the fact that it is a cross trade suggests the nominee has a foot in both camps.

Maybe someone who's been studying the ADR price relationship can shed some more light on this.