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What are depositary receipts?



Our response:

Canadian Depositary (or Depository) Receipts (CDRs) are a type of security that allow Canadian investors to purchase shares (or partial shares) of foreign companies using Canadian dollars.  

Each CDR represents a full or proportional interest in the underlying shares of a foreign company which are held by a custodian — generally a bank or investment firm — for the benefit of the CDR holder. CDRs are purchased in Canadian dollars and traded on a Canadian stock exchange. 

It’s important to read an issuer’s disclosure documents to know what you are buying before making a purchase.  

All investments carry some level of investment risk — however, some investments have more risk than others. Before you choose your investments, understand your risk tolerance, and the relationship between risk and return. Do your research and if you need advice speak with a qualified professional 

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