The idea behind the listings, called Canadian Depositary Receipts, is to cut down on the risk associated with holding assets that are priced in a foreign currency. (The Logic)

Talking point: The securities are modelled after American Depositary Receipts, which allow U.S. investors to buy foreign stocks in American dollars. The first CDRs that will begin trading on Wednesday are those for Alphabet, Apple, Amazon, Netflix and Tesla; notably, those are also some of the most popular stocks for retail traders, a segment of the market the Neo’s CEO has said deserves more oversight. Each CDR will initially trade at $20 each, or a small fraction of the full cost of a share in Amazon or Alphabet, catering to retail investors at a time when meme stocks and DIY trading have become more commonplace. The announcement also comes as Wealthsimple launches fractional trading for the same five stocks, as well as several others, on its own investing platform. Neo and CIBC said in a statement that they plan to offer CDRs for other companies in the future.