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