Cboe Canada Marks Milestone with New CDR Listings

Celebrating the Growth of CDRs in Canada

Today, Cboe Canada proudly marks a significant milestone in the financial landscape with the introduction of ten new Canadian Depositary Receipts (CDRs) facilitated by CIBC. This unveiling follows their impressive three-year journey, enhancing Canadian investors' access to major U.S. companies at a more affordable entry point.

Understanding Canadian Depositary Receipts

CDRs serve as a gateway for Canadian investors seeking exposure to prominent U.S. companies. One of the most attractive aspects of CDRs is their pricing model, which allows individuals to invest in these companies at a fraction of the cost per share compared to their U.S. counterparts. Moreover, they come with an inherent currency hedge, helping to mitigate the risks associated with currency fluctuations. Since their launch, CDRs have gained immense popularity, showcasing a robust growth trajectory, now boasting over $6 billion in assets under management (AUM).

New CDR Listings on Cboe Canada

The latest batch of CDRs is now actively trading on Cboe Canada, featuring ten exciting additions:

List of New CDRs

• 3M CDR (CAD Hedged) - MMMM
• American Express CDR (CAD Hedged) - AXP
• Booking CDR (CAD Hedged) - BKNG
• CrowdStrike CDR (CAD Hedged) - CRWD
• Ford CDR (CAD Hedged) - F
• General Electric CDR (CAD Hedged) - GE
• Intuitive Surgical CDR (CAD Hedged) - ISRG
• Micron CDR (CAD Hedged) - MU
• Qualcomm CDR (CAD Hedged) - QCOM
• Texas Instruments CDR (CAD Hedged) - TXN

Expanding Market Opportunities

Elliot Scherer, Managing Director and Global Head of the Wealth Solutions Group at CIBC Capital Markets, expressed pride in the continuous expansion of the CDR platform. He noted that these innovations allow investors to diversify their portfolios effectively while managing currency risk. As the trend toward global investing grows, CIBC remains committed to enhancing their CDR offerings and developing creative solutions to better serve investor needs.

Reflections on a Successful Three Years

With the addition of these latest tickers, there are now an impressive 65 CDRs of blue-chip U.S. companies available on Cboe Canada. Rob Marrocco, Global Head of ETF Listings at Cboe Global Markets, offered his congratulations to CIBC, celebrating three years of successful CDR operations. He underscored the significance of CDRs as an innovative investment vehicle for Canadian investors looking to tap into well-established stocks in the U.S. market.

The Continuing Journey of Cboe Canada

Cboe Canada has firmly established itself as a premier destination for CDRs and ETFs from leading Canadian issuers. The exchange consistently accounts for about 15% of all trading volume in Canadian listed securities, underscoring its vital role in the marketplace. As Cboe Canada continues to grow, stakeholders can expect creative and efficient trading opportunities.

About Cboe Canada

Cboe Canada operates as a Tier 1 stock exchange, creating favorable conditions for issuers looking to cultivate a robust financial presence. Fully functional since 2015, Cboe Canada prioritizes providing a reliable and trustworthy platform for investors. Being part of the Cboe Global Markets network enables Cboe Canada to integrate cutting-edge technology and market intelligence to fulfill stakeholders' requirements.

Frequently Asked Questions

What are CDRs?

CDRs, or Canadian Depositary Receipts, are investment vehicles that allow investors to gain exposure to U.S. companies in Canadian dollars.

How many CDRs does Cboe Canada now have?

After the recent additions, Cboe Canada now lists a total of 65 CDRs from blue-chip U.S. companies.

Who launched the new CDRs?

CIBC facilitated the launch of the ten new CDR tickers available on Cboe Canada.

What is the benefit of investing in CDRs?

Investing in CDRs allows Canadian investors to acquire shares of U.S. firms without facing direct currency risks and at lower prices.

How does Cboe Canada support investors?

Cboe Canada provides a Tier 1 stock exchange environment equipped with innovative tools and excellent market intelligence to support efficient trading experiences.

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