More opportunities for U.S. investments for Canadians through new CDR lineup
CIBC has announced that five new Canadian Depositary Receipts have been added to the NEO Exchange.
A convenient Canadian dollar-denominated investment vehicle, CDRs give investors inexpensive access to foreign stocks while limiting the currency risk associated with global investment.
Developed based on a century-old idea from the U.S., CDRs are offered for a fraction of the price per share of the underlying reference share and come with a built-in notional currency hedge.
The following are the five new CDRs available for trade on the NEO Exchange:
- Nvidia Canadian Depositary Receipts (CAD Hedged) – NVDA
- Home Depot Canadian Depositary Receipts (CAD Hedged) – HD
- Goldman Sachs Canadian Depositary Receipts (CAD Hedged) – GS
- Bank of America Canadian Depositary Receipts (CAD Hedged) – BOFA
- Walmart Canadian Depositary Receipts (CAD Hedged) – WMT
These new CDRs join other pre-existing CDRs already listed on the NEO Exchange, which include
- Alphabet Canadian Depositary Receipts (CAD Hedged) – GOOG
- Netflix Canadian Depositary Receipts (CAD Hedged) – NFLX
- Tesla Canadian Depositary Receipts (CAD Hedged) – TSLA
- IBM Canadian Depositary Receipts (CAD Hedged) – IBM
- JPMorgan Canadian Depositary Receipts (CAD Hedged) – JPM
