21:54:30 EDT Sun 12 May 2024
Enter Symbol
or Name
USA
CA



Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 931,811,338
Close 2024-03-06 C$ 66.33
Market Cap C$ 61,807,046,050
Recent Sedar Documents

Globe says CIBC CDRs have garnered about $4B in assets

2024-03-06 08:33 ET - In the News

Also In the News (C-AMZN) Amazon.com CDRs (CAD Hedged)
Also In the News (C-GOOG) Alphabet Inc CDRs (CAD Hedged)
Also In the News (C-MSFT) Microsoft CDR (CAD Hedged)
Also In the News (C-NVDA) Nvidia CDR (CAD Hedged)
Also In the News (C-TSLA) Tesla Inc CDRs (CAD Hedged)

The Globe and Mail reports in its Wednesday edition that Nvidia has surged 250 per cent in the past year. The Globe's Rob Carrick writes that you could buy Nvidia shares on Nasdaq, but it will cost you about $810 (U.S.) per share (all subsequent figures Canadian). Buying a board lot of 100 shares would be quite the financial commitment for a high-flying tech stock. An alternative thought: Buy the Canadian depositary receipt version of Nvidia at about $77 per share. CDRs were launched by Canadian Imperial Bank of Commerce in July, 2021, and have since attracted about $4-billion in assets as of last week. The most popular of the 54 CDRs currently listed on Cboe Canada is Nvidia, with assets of about $552-million. The next most popular CDRs are Amazon, Microsoft, Tesla and Alphabet. The tickers on Cboe Canada are the same as on U.S. exchanges. CDRs are fractional versions of U.S.-listed shares -- if you chart the Nasdaq and CDR versions of Nvidia, the lines almost completely overlap. Whatever differences you see may be explained by a currency hedging fee of up to 0.5 per cent charged by CIBC. The offsetting benefit is that the price of CDRs is not subject to fluctuations in the Canada-U.S. exchange rate.

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