Enhance liquidity and simplify investment across borders with local market debt access
Global Depositary Notes (GDNs) unlock investor access to emerging and frontier markets for issuers, investment managers, banks and brokers, enhancing liquidity and simplifying access to cross-border debt investment, without FX or local custody complexities.
For sovereign and corporate issuers, we connect local debt offerings with a global pool of investors, enhancing market visibility, distribution and liquidity for your securities. Streamline cross-border issuance with BNY’s GDNs denominated in the investor's currency and eligible for settlement in Euroclear, Clearstream or DTC.
We partner with leading banks and brokers to help you unlock access to emerging market debt for your clients. Expand your product offering, facilitate efficient settlement and support institutional clients in navigating complex capital markets.
For investment managers, GDNs provide client portfolio diversification through access to high-growth opportunities in emerging market debt. Our GDNs simplify market entry, increase liquidity and help manage risk across global capital markets.
Investors trade, settle and receive payments in their desired currency, simplifying operations by avoiding direct local custody and foreign exchange challenges.
GDNs are fully fungible with the underlying local bonds, allowing seamless movement between onshore and offshore markets and supporting flexible portfolio management.
Using a proven, turnkey structure, unsponsored GDNs can be launched efficiently, helping expand access to new markets, develop local demand for these instruments and meet global investor interest.
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