A challenging aspect of the emerging markets of New Europe is the fluctuating attitude of local governments towards foreign ownership of shares.

GDR/ADR programs allow foreign investors to be exposed to the Ukrainian market without taking all the risks of local settlement and currency exchange fluctuations. Our GDR/ADR program facility is set up and administered by the Bank of New York.

Foyil Securities was the first broker in Ukraine to start actively offering and trading GDR/ADR for Ukrainian equities. Foyil Securities remains the leader among Ukrainian brokers trading GDR/ADRs

Foyil Corporate Finance possesses an experienced GDR/ADR facility to service our international institutional clients for most Ukrainian companies.

FCF’s sister company Foyil Securities is the leading trader in Ukrainian GDRs.