Trading in depositary receipts rose 23% last year, to 15 billion shares, according to Bank of New York Co.
The banking company, a major arranger of depositary receipt programs, also reported that the dollar value of trading rose 53% last year, to $555 billion.
The figures are for depositary receipts traded on the New York Stock Exchange, Nasdaq, American Stock Exchange, over the counter, and on European exchanges.
Non-U.S. companies from 46 countries raised $19 billion through 145 depositary receipt offerings in the United States and Europe. Banking, telecommunications, and oil and gas companies were among the most active issuers.
Depositary receipts are issued for shares listed on a foreign stock exchange, allowing them to be traded outside the country in which they are listed.