Installment Receipts? What are they.

Discussion in 'Trading' started by Metamega, Jul 5, 2016.

  1. Metamega

    Metamega

    So have the week off and was just watching the markets(trade off dailies/weeklies) and noticed on my brokers platform(td direct investing), under a category of most active in Canadian stocks they had two symbols I've never seen before.

    AQN-IR.TO(company is AQN.TO) and EMA-IR.TO (company is EMA.TO),if wanting to reference through yahoo finance although it provides no information besides the quote.

    TSX/TSXV Exchanges - Equity Classes, etc.
    Symbol Suffix
    (none) Common
    .E Equity Dividend
    .A or .B or .C Class
    .W When Issued
    .PR or .PS or .PF Preferred
    .I When Issued (second issue trading)
    .PR.CLASS or
    .PS.CLASS or
    .PF.CLASS Preferred Class
    .L Legended Shares
    .M Booms
    .P Capital Pool (Venture)
    .H NEX (Junior Venture Market)
    .R Subscription Receipts
    .N Subscription Receipts (second issue trading)
    .O Subscription Receipts (third issue trading)
    .S Special US Trading Terms
    .T Special US Trading Terms (second issue trading)
    .U US Dollar
    .V US Dollar (second issue trading)
    .Y Redeemable Common
    .UN Units
    .NT or .NO or .NS Notes
    .WT Warrants
    .RT Rights
    .IR Installment Receipts
    .DB Debentures

    That's a list I found online to see what IR meant and it labels as installment receipts and a google search of investopedia returned this definition.

    http://www.investopedia.com/terms/i/installmentreceipt.asp

    Just curious if someone could break it down into laymen terms as I was curious as to what they are.

    I thought I kind of understood the investopedia but the strangest part is that these installment receipt symbols are trading at about 10x the volume of the underlying companies normal shares, and they also trade under a ticker already so why have an IPO and a installment receipt sale?