Trading in American depositary receipts, or shares in foreign companies, grew strongly during the third quarter as many foreign companies launched new programs, Citicorp reported.

The total number of receipts, or ADRs, traded on the New York Stock Exchange, American Stock Exchange, and over the counter Nasdaq market reached an all-time high of 5.2 billion shares for the nine months ended September 30, up 21% over the same period last year. Dollar volume of ADRs traded over the same period rose 32% to $184 billion.

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