What is the difference b/w HBC and HBCYF?

G

ggnn2020

Hi, Elite Traders. Do you know the difference b/w HBC and HBCYF?

One is NYSE and one is OTC. But both for HSBC Holdings Plc. Why there is an OTC version
 
HSBC US (NYSE Listing) is an ADR => underlying are 5 shares of HSBC's London listing (HSBA LN).

HSBC has numerous listings around the world (313 according to Bloomberg), and HBCYF (OTC) is one of them. Unless you have a particular reason to look at a specific listing (reasons could be related to market access, arbitrage etc - but you would not have to ask), you are probably best off sticking to the most active listing you have access to. For US investors this is HSBC US (~3.6mln shares daily volume). This compares to only ~22.5k shares for HSBCYF.

Note that the ADR are not the most active shares traded worldwide: The bank's HK shares (5 HK) have an avg. daily volume of ~42mln shares while the UK listing (HSBA LN) has an avg. daily volume of ~24mln shares.

Hope this helps
 
Thank you so much for the detailed info. Surprised about the number of 313!

A follow-up question: Is such info available from Bloomberg free version? Thank you!
 
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