Highlights 

  • BMO lists five new Canadian Depositary Receipts on Cboe Canada 
  • New CDRs offer exposure to Microsoft, Eli Lilly, Exxon Mobil, Chevron and Robinhood 
  • All CDRs trade in CAD and aim to simplify cross-border investing for Canadians 
  • Products are tied to U.S.-listed underlying shares and structured through BMO 
  • CDRs may aid diversification but require investors to review prospectus disclosures 

Bank of Montreal (TSX:BMO) has introduced five new Canadian Depositary Receipts, which began trading on the Cboe Canada exchange on November 26, 2025. This latest launch is part of BMO’s initiative to broadeninvestmentopportunities for Canadian investors by making internationalequitiesmore accessible. CDRs provide exposure to foreign companies while trading entirely in CAD, allowing investors to avoid direct currency conversion and reducing complexity in cross-border transactions. 

The new listings cover companies that operate across technology, pharmaceuticals, energy and digital brokerage services—industries widely followed by investors seekingdiversificationand long-term growth exposure. 

Details of the Newly Listed CDRs 

The newly introduced CDRs and their respective tickers include: 

  • Microsoft Corporation (NASDAQ:MSFT) – CDR Ticker: ZMSF 
  • Eli Lilly and Company (NYSE:LLY) – CDR Ticker: ZLLY 
  • Exxon Mobil Corporation (NYSE:XOM) – CDR Ticker: ZXOM 
  • Chevron Corporation (NYSE:CVX) – CDR Ticker: ZCVX 
  • Robinhood Markets, Inc. (NASDAQ:HOOD) – CDR Ticker: ZHOO 

Each CDR represents an interest in the underlying U.S.-listed shares. The structure allows Canadian investors to participate in the price performance of these global companies without directly purchasing shares on U.S. exchanges. 

BMO reiterates that these instruments may not be appropriate for all investors and that the offering documents provide critical information regarding the underlying issuers, risks, fees and product mechanics. 

The Broader Strategy  

The introduction of these CDRs reflects BMO’s ongoing efforts to meet investor demand for accessible global investment tools. As the seventh-largest bank in North America byassets—totaling approximately USD 1.4 trillion as of July 31, 2025—BMO continues to expand its product suite across personal and commercial banking, wealth management, global markets and investment banking. 

The bank also highlights its commitment to responsible growth and financial inclusion as part of its corporate purpose, underscoring a broader strategy to enhance investor choice while supporting transparent market access. 

Conclusion 

BMO’s latest CDR launch adds new avenues for Canadians to participate in the performance of leading U.S. companies, all while trading in CAD on a domestic exchange. Although these instruments provide convenience and potential diversification benefits, investors are encouraged to thoroughly review the product's disclosures to understand the structure, risks and suitability for their portfolios.