Investors can trade CDRs through their usual investment channels, including discount brokerage platforms and full-service dealers. You can buy and sell CDRs today via any of these online retail brokerages, or through your financial advisor.
Canadian Depositary Receipts (CDRTM)
Depositary receipts are a time-tested way for investors to gain exposure to shares of foreign listed companies. Canadian Depositary Receipts (CDRs) are designed to make it easier for Canadians to access some of the largest publicly listed companies around the world, in Canadian Dollars, and with a built-in currency hedge. A wide variety of CDRs are now listed and trading on Cboe Canada.
A Canadian-First Approach to Global Investing
CDRs make it easy for Canadian investors, financial advisors, and institutions to invest in global blue-chip companies, with the following added benefits:
- Exposure to some of the world’s largest public companies in Canadian Dollars.
- More affordable access through fractional share ownership.
- Built-in currency hedge to minimize foreign currency risk.
Stay in the Know
Stay up to date about current listings and be the first to know about upcoming CDR launches on Cboe Canada.
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Cboe Canada Listed CDRs
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Investing on a Global Stage
CDRs provide Canadian investors exposure to the world’s largest companies in a simple and transparent way, without the need for maintaining international brokerage accounts.
Available in Canadian Dollars, Listed on Cboe Canada
Buying shares of companies listed on exchanges outside of Canada can come with extra hurdles and additional fees to convert cash to a foreign currency.
Don’t see a company you want to buy as a CDR yet? Click here and we will let our CDR issuers know what companies you’re interested in buying.
Removing Barriers to Global Investing
Investing directly in companies listed on exchanges around the world can be expensive and expose the investors to an additional investment consideration – currency fluctuations. CDRs come with a built-in currency hedge so you don’t have to worry about exchange rate movements between the Canadian Dollar and the trading currency of the underlying shares of each company.
With CDRs, changes in the exchange rate do not impact an investor’s Canadian Dollar returns due to the notional currency hedge (though some tracking discrepancies may arise due to the spread embedded in the notional FX forward rate used to provide the hedge, as well as the difference between short-term interest rates around the world and Canada).
Global CDRs
In 2021, innovation hit the market with the first CDRs to list in Canada, providing a simple way for Canadian investors to manage their U.S. stock exposure. Now, in 2025, dozens of CDRs are listed on Cboe Canada, providing access to global markets for Canadian investors.
Purchase CDRs
Trade CDRs at any of these online retail brokerages
CDR Issuers
CIBC
BMO
Frequently Asked Questions
The underlying shares for the CDRs will generally be highly liquid securities that trade on major global exchanges. Generally speaking, where the underlying shares have a high trading volume, the corresponding CDR is expected to have a high degree of liquidity. Liquidity may fluctuate due to differences in settlement cycle and time zones between Canada and other global jurisdictions.
Stay in the Know
Stay up to date about current listings and be the first to know about upcoming CDR launches on Cboe Canada.
Subscribe Now Download Brochure
Questions? Contact us to learn more.
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