New CDRs on Cboe Canada Offer Investors Easier Access to Global Markets
Today, Cboe Canada Inc. (“Cboe Canada”) welcomes Bank of Montreal (“BMO”) with the launch of its first Canadian Depositary Receipts (“CDRs”).
BMO’s offerings provide Canadian investors with easier access to German, Swiss and Japanese markets. The new CDRs, representing Mercedes-Benz and Nestlé, are now listed and trading on Cboe Canada under the symbols MB and NEST, respectively. The next three new CDRs – Toyota (TOYM), Honda (HNDA) and Nintendo (NTDO) – will begin trading on February 10, 2025.
“This launch marks great progress in the Canadian investment landscape. BMO is helping to push the frontiers of foreign investing with their entry into the CDR market and widening access to globally diverse CDR listings,” said Rob Marrocco, Global Head of ETF Listings at Cboe. “We thank the BMO team for trusting Cboe Canada as its listing partner for these launches and are committed to providing exceptional support as they build out their CDR product shelf across international borders.”
BMO’s CDRs allow investors to buy stocks in blue-chip companies outside of Canada in Canadian dollars. The built-in currency hedge also reduces the risk related to currency rate fluctuations while fractional share ownership offers a way to invest in high-priced stocks through lower-priced partial shares.
“We are pleased to launch our CDRs on the Cboe Canada exchange, giving investors greater access to foreign markets, while minimizing the currency risk associated with investing overseas,” said Bill Bamber, Chief Executive Officer of BMO Global Asset Management. “BMO has plans to expand its CDR offering in Canada and increase the number of CDRs available for investors that are seeking to invest in a wider selection of world-class companies but also trade in Canada in Canadian dollars.”
For more information about CDRs, please visit https://www.cboe.ca/en/services/raising-assets/canadian-depositary-receipts.
Cboe Canada is home to the entire suite of CDRs, ETFs from Canada’s largest ETF issuers, and some of the most innovative Canadian and international growth companies. In Canada, Cboe consistently facilitates more than 15% of all volume traded in Canadian securities.
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