_______ is a type of transferable financial instrument which is traded at local stock exchange of a country but represents a security (usually, in the form of equity) which is issued by a foreign publicly listed company.

A depository receipt is a negotiable financial instrument issued by a bank to represent a foreign company's publicly traded securities. With a depository receipt, a custodian bank in the foreign country holds the actual shares, often in the form of an American depository receipt (ADR), which is listed and traded on exchanges based in the United States, or a global depository receipt GDR, which is traded in established non-U.S. markets such as London and Singapore.