CIBC introduces additional Canadian Depositary Receipts ( CDRs )
Expanded CDR lineup provides more opportunities for Canadians to invest in global companies
TORONTO, Nov. 25, 2022 /CNW/ - CIBC today announced the addition of five new Canadian Depositary Receipts (CDRs), now listed on the NEO Exchange.
With a total of 35 now available in the market, CDRs make it easy to invest in many 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.
As we grow our platform, we continue to see strong momentum from investors looking to hedge their USD exposure, said Christian Exshaw, Managing Director and Head, CIBC Global Markets and Direct Financial Services. We're thrilled with the reception from the investment advisor and DIY investor communities, as CDRs allow access to some of the world's biggest companies while managing currency risk.
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