Expanded CDR lineup celebrates second anniversary since industry-leading launch
TORONTO, Sept. 19, 2023 /CNW/ - Today CIBC announced the addition of six new Canadian Depositary Receipts ("CDRs"), now listed on Cboe Canada. Introduced to investors two years ago, CIBC now has a total of 47 CDRs available in 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.
"With continued demand from investors, we are thrilled to offer industry-leading solutions to help our clients achieve their ambitions," said Christian Exshaw, Managing Director and Head, CIBC Global Markets and Direct Financial Services. "As Canadians look to diversify their portfolios, CDRs allow direct exposure to some of the world's biggest companies while hedging currency risk."
The six new CDRs available for trading on Cboe Canada are listed below with their Cboe Canada ticker symbols:
- Adobe Canadian Depositary Receipts (CAD Hedged) – ADBE
- Broadcom Canadian Depositary Receipts (CAD Hedged) – AVGO
- Caterpillar Canadian Depositary Receipts (CAD Hedged) – CATR
- Eli Lilly Canadian Depositary Receipts (CAD Hedged) – LLY
- Johnson & Johnson Canadian Depositary Receipts (CAD Hedged) – JNJ
- RTX Canadian Depositary Receipts (CAD Hedged) – RTX
These six will add to the existing lineup of CDRs which are available for trading on Cboe Canada.
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and 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.