depositary
/dɪˈpɒzɪt(ə)ri
/(also depository)
noun (plural depositaries)
A person to whom something is lodged in trust: in the seventeenth century, goldsmiths acted as depositaries for the gold of the rich...
- The first session of the preparatory conference was convened by New Zealand, the depositary of the convention, at Christchurch, New Zealand from April 23 to April 28, 2001.
- Ratification takes place by an exchange of instruments or, in the case of multilateral agreements, by deposit with a designated depositary.
- The Secretary General acts as a depository for ratifications, reservations, and renunciations of the various Council of Europe instruments.
adjective
(Of a share or receipt) representing a share in a foreign company. The depositary share or receipt is traded on the stock exchange of the investor’s country rather than the actual share, which is deposited in a foreign bank.Last spring the government proposed selling shares to overseas investors via depositary receipts on the New York Stock Exchange....
- The company is today marketing 700 million shares in the form of global depositary receipts to investors in Hong Kong and Singapore before heading to Europe and the US, said the banker who declined to be identified.
- Foreign companies can list on the exchange either through depositary receipts or shares.
Origin
Early 17th century: from late Latin depositarius, from the verb deponere (see deposit).