Expanded CDR lineup provides more opportunities for Canadians to invest in global companies
Modeled after the American Depositary Receipts ("ADRs") market, CDRs make it easy to invest in some of the world's largest companies – in Canadian dollars. Offered at a fraction of the price per share of the underlying reference share, and with a built-in notional currency hedge, CDRs provide investors with affordable access to foreign stocks while mitigating the currency risk associated with global investing.
The five new CDRs available for trading on the NEO Exchange are listed below:
- Microsoft Canadian Depositary Receipts (CAD Hedged) – MSFT
- Walt Disney Canadian Depositary Receipts (CAD Hedged) – DIS
- Visa Canadian Depositary Receipts (CAD Hedged) –
VISA - Facebook Canadian Depositary Receipts (CAD Hedged) – FACE
- PayPal Canadian Depositary Receipts (CAD Hedged) – PYPL
These five will add to the existing lineup of CDRs which are available for trading on the NEO Exchange:
- Alphabet Canadian Depositary Receipts (CAD Hedged) – GOOG
- Amazon.com Canadian Depositary Receipts (CAD Hedged) – AMZN
- Apple Canadian Depositary Receipts (CAD Hedged) – AAPL
- Netflix Canadian Depositary Receipts (CAD Hedged) – NFLX
- Tesla Canadian Depositary Receipts (CAD Hedged) – TSLA
"We're thrilled with the strong response from investors to our new CDRs, which give them an opportunity to extend their portfolios beyond our borders without being exposed to currency risk," said
To bring CDRs to market, CIBC partnered with
"In their first months of trading, CDRs have seen steady growth with interest ranging from do-it-yourself investors through to portfolio managers," added
For more information about CDRs, please visit https://cdr.cibc.com or www.neo.inc/en/services/raising-assets/canadian-depositary-receipts.
About CIBC
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.
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SOURCE CIBC
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