Mar 21 (edited) • Insider Buying + Value Picks
Canadian Despositary Receipts #CDR
CDRs are investments that allow Canadian investors to own fractional shares of foreign companies traded on Canadian exchanges in Canadian dollars. They provide exposure to global companies while minimizing currency conversion costs and risks associated with foreign exchange fluctuations.
wrote a post "Was Curious about Netflix 2 stock symbols might help you decide." which he talks about the two Netflix holdings, one being a CDR.
One share of USD NFLX is CDR Ratio 0.27564681 *as of Mar 21-2026*
NFLX:us $91.82 USD = $128.40cdn (1.3984 FX rate - WS) @close Mar 20-2026
NFLX:cdr $34.73cdn
Math to own one Share of NFLX in CDR
1 / 0.27564681 = 3.6278 x $34.73 = $125.99 - $128.40 = $2.41 savings.
Doesn't sound like much but adds up when you buy more, $24.10 for 10 shares.
There is away around the CDN to USD exchange, Journaling by using Norbert's Gambit with a fee of $10 plus tax, also takes 1-5 days to happen per broker. The break-even point is around the $800cdn if your broker doesn't charge a fee for trading. If commission fees are charged, looking at $1600cdn. (info I pulled from web) But this is another whole post for Journaling USD.
You save on the exchange of your CDN$ to USD$, but not from the withholding tax of 15% if the holding does pay a dividend. To avoid the withholding tax, hold it in your RRSP account. If its a growth stock that does not pay a dividend, no worries of that 15% withholding tax.
If like to learn more on CDRs, check out https://money.tmx.com/tsx-cdr-centre and click CDR Education to learn more. It also shows at top of page top preforming CDRs
Also other links from BMO and CIBC that list CDRs.
Yes I looked and found. CDR of #MSTR
***Added May 9-2026***
Canadian Depositary Receipts (CDRs) can and do split if their price becomes too high.
Key Details on CDR Splits Automatic Process:
If a CDR splits, the process is automatic. Holders do not need to take any action; their brokerage accounts will be updated, although it may take a few days to reflect the new amount.
Purpose:
While CDRs are designed to provide exposure to foreign stocks at a lower, more accessible price point (typically starting around CAD $20), they can undergo corporate actions to reduce their share price if it grows too high. Example (2025/2026): In November 2025 and March 2026, CIBC announced splits for several CDR series (including Micron, Broadcom, Oracle, Palantir, and Uber) to make them more accessible.
No Economic Impact:
A split does not change the total value of your investment, only the number of units you own and the price per unit. If you owned one CDR at $100 and it split 5-for-1, you would own five CDRs at roughly $20 each.
Underlying Stock Split:
If the underlying U.S. company splits its shares (e.g., Apple), the CDR ratio is automatically adjusted to reflect the change, ensuring the CDR price remains aligned with the new share price.
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Canadian Despositary Receipts #CDR
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