CDR portfolio expansion marks the one-year anniversary of the industry-first product's debut
A year after debuting the made-in-Canada investment instrument, CIBC has launched seven new Canadian Depositary Receipts (CDRs) on the NEO Exchange.
With the latest additions, CIBC has added a total of 30 CDRs to its platform in the past year, expanding the number of chances for Canadian investors to make investments in international businesses.
With a built-in notional currency hedge, CDRs reduce the currency risk associated with international investing and do away with the need to transfer Canadian dollars into foreign currencies.
"As CIBC continues to expand our CDR platform, we're making it easier for Canadian investors to get direct exposure to the world's biggest companies," said Christian Exshaw, Managing Director and Head, CIBC Global Markets and Direct Financial Services. "We're thrilled with the strong response we've had to our CDRs and are committed to delivering innovative solutions to help investors achieve their ambitions."
Innovating on the centuries-old invention of American depositary receipts, CDRs help provide exposure to the performance of U.S. companies and stocks whose share prices are prohibitively expensive for the average investor.
The new CDRs that are now trading on the NEO Exchange, along with their ticker symbols, include:
- Cisco Canadian Depositary Receipts (CAD Hedged) - CSCO
- Coca-Cola Canadian Depositary Receipts (CAD Hedged) - COLA
- McDonald's Canadian Depositary Receipts (CAD Hedged) - MCDS
- NIKE Canadian Depositary Receipts (CAD Hedged) - NKE
- Starbucks Canadian Depositary Receipts (CAD Hedged) - SBUX
- UnitedHealth Canadian Depositary Receipts (CAD Hedged) - UNH
- Verizon Canadian Depositary Receipts (CAD Hedged) – VZ
These seven will increase the number of CDRs that are currently offered for trade on the NEO Exchange:
- Advanced Micro Devices Canadian Depositary Receipts (CAD Hedged) - AMD
- Alphabet Canadian Depositary Receipts (CAD Hedged) - GOOG
- Amazon.com Canadian Depositary Receipts (CAD Hedged) - AMZN
- Apple Canadian Depositary Receipts (CAD Hedged) - AAPL
- Bank of America Canadian Depositary Receipts (CAD Hedged) - BOFA
- Berkshire Hathaway Canadian Depositary Receipts (CAD Hedged) - BRK
- Costco Canadian Depositary Receipts (CAD Hedged) - COST
- Goldman Sachs Canadian Depositary Receipts (CAD Hedged) - GS
- Home Depot Canadian Depositary Receipts (CAD Hedged) - HD
- IBM Canadian Depositary Receipts (CAD Hedged) - IBM
- JPMorgan Canadian Depositary Receipts (CAD Hedged) - JPM
- Mastercard Canadian Depositary Receipts (CAD Hedged) - MA
- Meta Canadian Depositary Receipts (CAD Hedged) – MVRS
- Microsoft Canadian Depositary Receipts (CAD Hedged) - MSFT
- Netflix Canadian Depositary Receipts (CAD Hedged) - NFLX
- Nvidia Canadian Depositary Receipts (CAD Hedged) - NVDA
- PayPal Canadian Depositary Receipts (CAD Hedged) – PYPL
- Pfizer Canadian Depositary Receipts (CAD Hedged) - PFE
- Salesforce.com Canadian Depositary Receipts (CAD Hedged) - CRM
- Tesla Canadian Depositary Receipts (CAD Hedged) - TSLA
- Visa Canadian Depositary Receipts (CAD Hedged) – VISA
- Walt Disney Canadian Depositary Receipts (CAD Hedged) – DIS
- Walmart Canadian Depositary Receipts (CAD Hedged) – WMT
