CIBC Launches 5 New CDRs ("Canadian Depositary Receipts") on the NEO Exchange
NEO is proud to welcome CIBC back to the NEO Exchange with a suite of five new Canadian Depositary Receipts ("CDRs") to expand their existing lineup to 35 global companies.
A made-in-Canada innovation for Canadian investors and advisors, CDRs make it easy to invest in some 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.
The five new CDRs available for trading on the NEO Exchange are listed below:
The five new CDRs will add to the current lineup of 30 CDR tickers which are available for trading on the NEO Exchange, including household names such as Tesla, Amazon, Apple, VISA, and more.
"With some of the best-performing blue-chip stocks on the market across financial services, consumer goods, healthcare and technology, it's no wonder investors and their advisors are choosing to invest through CDRs," added Erik Sloane, CRO of the NEO Exchange. "CDRs are the simplest and most intuitive way for Canadians to access the US public markets. It's a true Canadian success story and we're extremely proud to be the listing venue of choice for CIBC."
For more information about CDRs, please visit www.neo.inc/en/services/raising-assets/canadian-depositary-receipts.
The five newest CDRs launched by CIBC join over 250 unique listings on the NEO Exchange, including some of the most innovative Canadian and international growth companies, Canadian Depositary Receipts, and ETFs from Canada's largest ETF issuers. NEO consistently facilitates between 10% and 15% of all volume traded in Canadian-listed companies and close to 20% of all volume traded in Canadian ETFs. Click here for a complete view of all NEO-listed securities.
About the NEO Exchange
The NEO Exchange is Canada's Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since 2015 and acquired by Cboe Global Markets in 2022, NEO provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
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