It should roughly match the ASX price, particularly since my...

It should roughly match the ASX price, particularly since my understanding is that any trader who holds CDIs can swap them for TSX shares and vice versa, so any major divergence between the two should be an opportunity for an arbitrage play.

But it's been mentioned previously that the CDIs tend to lag the TSX shares by a few percent, and it seems to be happening again. There must be a reason for it. The volumes of buyers and sellers for the CDIs aren't high enough to make arbitrage players really worthwhile so maybe that lower liquidity is why traders give the CDIs a discount.