Meta Shares Traded via Canadian Depositary Receipts on Nasdaq
What happened
Meta shares are traded on the Nasdaq Stock Market and are accessible through Canadian depositary receipts (CDRs). These CDRs are Canadian-dollar instruments issued by CIBC Capital Markets and BMO Global Asset Management. The CDR ratio determines the exposure of one receipt to the underlying Nasdaq-traded shares.
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Why it matters
CDRs allow investors to trade global companies on Canadian exchanges without buying shares directly. This mechanism provides fractional exposure to foreign stocks, such as Meta, which were trading around US$750 on Nasdaq.
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Who's involved
- MetaThe American technology company whose shares are traded via CDRs.
- CIBC Capital MarketsInvestment banking subsidiary that issues the Canadian Depositary Receipts.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CIBC Capital MarketsSpeculative
CIBC Capital Markets may see sustained demand for the CDR product it issues.
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The entities involved
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Meta
American technology company