CIBC has launched a suite of five new Canadian Depositary Receipts (CDRs) on the NEO Exchange, expanding NEO’s existing lineup to 35 global companies.
CDRs are designed to 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: Honeywell International Inc Canadian Depositary Receipts (CAD Hedged) – HON; AbbVie Inc Canadian Depositary Receipts (CAD Hedged) – ABBV; Procter & Gamble Co Canadian Depositary Receipts (CAD Hedged) – PG; CVS Health Corp Canadian Depositary Receipts (CAD Hedged) – CVS; and United Parcel Service, Inc Canadian Depositary Receipts (CAD Hedged) – UPS.
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.
