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Can someone explain to me what the relation between NYSE:SNE and TYO:6758 is? Obviously the latter is the "real" Sony, but not traded until Tokyo opens. Do you
by pdknsk 13y ago
Can someone explain to me what the relation between NYSE:SNE and TYO:6758 is? Obviously the latter is the "real" Sony, but not traded until Tokyo opens. Do you get the same shares when you buy at NYSE? Thanks.
- jmgao 13y agoNYSE:SNE is an ADR [1]; basically, a bank buys shares in a foreign country, and sells a receipt for those shares on a local exchange. It acts as a proxy for the foreign share, without having to deal with currency conversion/owning direct shares of a foreign company. [1] http://en.wikipedia.org/wiki/American_depositary_receipt http://en.wikipedia.org/wiki/American_depositary_receipt