Embraer SA is a Brazilian company that engages in the design, manufacture, and sale of aircraft and its parts for commercial, defense, and executive aviation sectors. The ADR trades on the New York Stock Exchange (NYSE) with ticker EB), while the local shares trade in the Sao Paulo Stock Exchange with ticker EMBR3.SA. Each ADR represents a certificate equivalent to 4 local shares. On Friday March 29, 2019 EBJ was trading at USD 18.95-19.00 while EMBR3.SA was trading at 18.45-18.55. The Brazilian Real to US dollar exchange (BRL/USD) was trading at 3.8689 - 3.8715 If you use ADR arbitrage and BUY local shares and SELL the ADR, your trading will result in If you use ADR arbitrage in the previous example and BUY the ADR and SELL the local shares, your arbitrage trading strategy will result in A loss of USD 0.062 A profit of USD 0,062 A loss of USD 0.8843 A profit of USD 0.8843 A loss of BRL 0.062 A profit of BRL 0.062 A loss of BRL 0.8843 A profit of BRL 0.8843 Embraer SA is a Brazilian company that engages in the design, manufacture, and sale of aircraft and its parts for commercial, defense, and executive aviation sectors. The ADR trades on the New York Stock Exchange (NYSE) with ticker EB), while the local shares trade in the Sao Paulo Stock Exchange with ticker EMBR3.SA. Each ADR represents a certificate equivalent to 4 local shares. On Friday March 29, 2019 EBJ was trading at USD 18.95-19.00 while EMBR3.SA was trading at 18.45-18.55. The Brazilian Real to US dollar exchange (BRL/USD) was trading at 3.8689 - 3.8715 If you use ADR arbitrage and BUY local shares and SELL the ADR, your trading will result in If you use ADR arbitrage in the previous example and BUY the ADR and SELL the local shares, your arbitrage trading strategy will result in A loss of USD 0.062 A profit of USD 0,062 A loss of USD 0.8843 A profit of USD 0.8843 A loss of BRL 0.062 A profit of BRL 0.062 A loss of BRL 0.8843 A profit of BRL 0.8843