Algebras of free holomorphic functions and localizations

We consider the algebras of holomorphic functions on a free polydisc $\mathscr F^T(\mathbb D_R^n)$, $\mathscr F(\mathbb D_R^n)$ and the algebra of holomorphic functions on a free ball $\mathscr F(\mathbb B_r^n)$. We show that the algebra $\mathscr F(\mathbb D_R^n)$ is a localization of a free algebra and, moreover, is a free analytic algebra with $n$ generators (in the sense of J. Taylor), while the algebra $\mathscr F(\mathbb B_r^n)$ is not a localization of a free algebra. In addition we prove that the class of localizations of free algebras and the class of free analytic algebras are closed under the operation of the Arens-Michael free product.
Bibliography: 21 titles.