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."
The five new CDRs available for trading on the NEO Exchange are listed below with their NEO Exchange ticker symbols:
These five will add to the existing lineup of CDRs which are available for trading on the NEO Exchange:
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Small 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.
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