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CDR Options
Trade Global Leaders in Canadian Dollars
Trade Options on Canadian Depositary Receipts (CDRs) and gain exposure to US 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.
Introducing CDR Options on Montréal Exchange
MONTRÉAL EXCHANGE
© 2025 Bourse de Montréal Inc. All rights reserved.
What are CDRs?
Why Trade CDR Options?
CIBC Canadian Depositary Receipts (CDRs) are innovative instruments that let you trade shares of US 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 US investing accessible and straightforward for Canadian investors. Choose from an expanding portfolio of premier global companies, including technology giants, consumer favorites, and industry leaders.
Educational Resources
Accessible Investment Size
Trade fractional shares of premium U.S. stocks through CDR options
Dual-Purpose Trading Tools
Generate potential income and hedge portfolio risk with effective CDR options strategies.
Contract Specifications
Trading Hours
9:30 a.m. to 4:00 p.m. ET
Minimum Price Fluctuation
Weekly expiries (up to 5 weeks)
Expiry Cycle
Style
American
Settlement
Physical delivery of the underlying CDRs
Trading Unit
One option contract represents 100 CDRs
$0.01 for premiums below $3.00
$0.05 for premiums of $3.00 and up
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Articles and Trading Strategies
Available CDRs for Options Trading
Nvidia CDR (CAD Hedged)
NVDA
Apple CDR (CAD Hedged)
AMZN
Amazon.com CDR (CAD Hedged)
Tesla CDR (CAD Hedged)
TSLA
Alphabet CDR (CAD Hedged)
GOOG
Microsoft CDR (CAD Hedged)
MSFT
AAPL
Berkshire Hathaway CDR (CAD Hedged)
BRK
Costco CDR (CAD Hedged)
COST
META
Meta CDR (CAD Hedged)
Advanced Micro Devices CDR (CAD Hedged)
AMD
Premium Stock Access
Gain exposure to U.S. stocks without substantial capital investment.
Cost Savings
Save money by avoiding currency conversion fees and cross-border trading costs.
Canadian Dollar Trading
Eliminate currency conversion headaches: Trade U.S. stock options directly in Canadian dollars.
Trusted Trading Environment
Trade confidently on Montréal Exchange, Canada's established and regulated derivatives marketplace.
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.
CDR Brochure
Courtesy of CIBC. Video: CDRs - Overview
COMING SOON!
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