The American depositary receipt (ADR) is a certificate of ownership of the American depositary share (ADS). ADS is priced in US dollars and representing a specified number of shares of a foreign company's stock. The holder of a ADR has the right to convert the ADR to shares of the underlying asset stock.
1) Client needs to submit an email application according to the template;
2) Moomoo Financial Singapore Pte. Ltd. will send a confirmation email to the client;
3) Moomoo Financial Singapore Pte. Ltd. will deduct the ADRs and fees in the transfer-out account of the client, and process the conversion;
4) Moomoo Financial Singapore Pte. Ltd. will add the stocks to the transfer-in account.
Fee schedules for the conversion:
650 USD handling fee per time + 17 USD cablewire fee per time + 5 USD conversion fee per lot/time (1 lot = 100 ADS, less than 1 lot will be rounded to 1 lot) .
Please note: For your conversion to be successfully processed, please make sure your US stock account have sufficient available funds to pay the fees.
Preparation for ADR conversion:
1) Client needs to have sufficient available funds to pay the fee for ADR conversion. Fee schedules for the conversion: 650 USD handling fee per time + 17 USD cablewire fee per time + 5 USD conversion fee per lot/time (1 lot = 100 ADS, less than 1 lot will be rounded to 1 lot) .
2) Open the stock account in Moomoo Financial Singapore Pte. Ltd. After conversion is successfully processed, the stock will be transferred into the stock account in Moomoo Financial Singapore Pte. Ltd.
For example, if you want apply ADR convertion to HK stock, After conversion is successfully processed, the HK stock will be transferred into the HK stock account in Moomoo Financial Singapore Pte. Ltd.
Client needs to send the template below to clientservice@sg.moomoo.com to inform Moomoo Financial Singapore Pte. Ltd. the ADR needs to convert. Email should include (「Please note」 part needs to be included too):
1) Client information
Moomoo ID:
Name of the client:
2) Information of the conversion request
Convert from/to: For instance, ADR conversion with HK share
Transfer-out account ID:
Transfer-in account ID:
Stock information: (Stock code and shares) e.g., 200 shares of BABA.US
Please note: I already understand the fee schedules for the conversion is 650 USD handling fee per time + 17 USD cablewire fee per time + 5 USD conversion fee per lot/time (1 lot = 100 ADS, less than 1 lot will be rounded to 1 lot).
After Moomoo Financial Singapore Pte. Ltd. receives the client's email application, Moomoo Financial Singapore Pte. Ltd. will apply for the conversion with clearing broker as soon as possible and Moomoo Financial Singapore Pte. Ltd. will send the results to the client via email.
After the client successfully applies for the conversion, generally the conversion will be completed within 10 business days, the specific time is subject to the clearing broker. However, due to the clearing broker processing efficiency issues, if the stock not be converted within 10 business days, please wait patiently.