Introducing CDR Options on Montréal Exchange
Trade Options on Canadian Depositary Receipts (CDRs) and gain exposure to U.S. equities in Canadian dollars. These innovative instruments combine the flexibility of options trading with the convenience of trading in CAD, offering new opportunities for investment advisors and retail investors.
What are CDRs?
CIBC Canadian Depositary Receipts (CDRs) are innovative instruments that let you trade shares of U.S. world-leading companies in Canadian dollars, eliminating the complexity of currency conversion and foreign account management. With built-in currency hedging and fractional share ownership, CDRs make U.S. investing accessible and straightforward for Canadian investors. Choose from an expanding portfolio of premier global companies, including technology giants, consumer favourites, and industry leaders.
Courtesy of CIBC. Video: CDRs - Overview
CDR Brochure
Why Trade CDR Options?
Accessible Investment Size
Trade fractional shares of premium U.S. stocks through CDR options
Canadian Dollar Trading
Eliminate currency conversion headaches: Trade U.S. stock options directly in Canadian dollars.
Cost Savings
Save money by avoiding currency conversion fees and cross-border trading costs.
Dual-Purpose Trading Tools
Generate potential income and hedge portfolio risk with effective CDR options strategies.
Premium Stock Access
Gain exposure to U.S. stocks without substantial capital investment.
Trusted Trading Environment
Trade confidently on Montréal Exchange, Canada's established and regulated derivatives marketplace.Available CDRs for Options Trading
| AAPL | Apple CDR (CAD Hedged) |
| AMD | Advanced Micro Devices CDR (CAD Hedged) |
| AMZN | Amazon.com CDR (CAD Hedged) |
| AVGO NEW | Broadcom CDR (CAD Hedged) |
| BRK | Berkshire Hathaway CDR (CAD Hedged) |
| COST | Costco CDR (CAD Hedged) |
| GOOG | Alphabet CDR (CAD Hedged) |
| LULU NEW | Lululemon CDR (CAD Hedged) |
| META | Meta CDR (CAD Hedged) |
| MSFT | Microsoft CDR (CAD Hedged) |
| MU NEW | Micron CDR (CAD Hedged) |
| NFLX NEW | Netflix CDR (CAD Hedged) |
| NVDA | Nvidia CDR (CAD Hedged) |
| PLTR NEW | Palantir CDR (CAD Hedged) |
| TSLA | Tesla CDR (CAD Hedged) |
| UBER NEW | Uber CDR (CAD Hedged) |
| UNH NEW | UnitedHealth CDR (CAD Hedged) |
Contract Specifications
| Trading Hours | 9:30 a.m. to 4:00 p.m. ET |
| Expiry Cycle |
Weekly expiries: Up to 5 weeks Monthly expiries: At a minimum, the nearest four consecutive months plus the next four months in the designated quarterly Cycle: March, June, September and December. |
| Style | American |
| Settlement | Physical delivery of the underlying CDRs |
| Trading Unit | One option contract represents 100 CDRs |
| Minimum Price Fluctuation |
$0.01 for premiums below $3.00 $0.05 for premiums of $3.00 and up |
Educational Resources
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