Daimler AG revealed Thursday the company now sponsors an American Depositary Receipt program.

Officials explained an ADR is a security created to permit U.S. investors to indirectly hold shares in non-U.S. companies and to trade them on securities markets in the United States. 

Specifically, Daimler is sponsoring a Level 1 ADR program. Officials noted the Daimler ADRs can be traded in the over-the-counter market in the United States under the symbol DDAIY. Under the new program, one ADR represents one Daimler ordinary share.

Officials also added Deutsche Bank Trust Company Americas is acting as the depositary bank for this program.

“We are pleased to offer the sponsored ADR program as a service to U.S. investors,” stated Bodo Uebber, Daimler’s chief financial officer.

“ADRs are a proven instrument for American investors and provide them with another excellent alternative to take part in our company,” Uebber concluded.