Winnipeg Commodity Exchange
The Winnipeg Commodity Exchange is the former name of a derivatives market based in Winnipeg, Manitoba, Canada now known as ICE Futures Canada. Futures and options contracts are electronically traded in western barley and canola (rapeseed).[1]
The WCE began its existence as the Winnipeg Grain & Produce Exchange in 1887. In 1904, it introduced its first futures contracts. It was, and remains, Canada's only commodity futures exchange. It also formerly operated the Canadian Financial Futures Market.
In December 2004, WCE converted from the traditional "open outcry" method of trading to an electronic trading format. This made it the first commodity futures exchange in North America to go fully electronic. Until December 2007, futures were traded on the platform of the Chicago Board of Trade.[2]
Since September 2007, the WCE has been a subsidiary of the Atlanta-based IntercontinentalExchange (ICE). Its quotes are now traded on the ICE platform.
Buildings
The Winnipeg Commodity Exchange buildings past and current, have been located within downtown Winnipeg.
The first Commodity Exchange building was located on Princess Street and was constructed in 1899. The façade is now part of the Red River College Princess St. Campus.
The second building was located at 167 Lombard Street and was constructed from 1906 to 1908 by Toronto architects Pearson and Darling. It is still in use as office space, and known as the Grain Exchange Building.
The Winnipeg Commodity Exchange then moved to the Commodity Exchange Tower at 360 Main Street in 1979. The tower has since been renamed 360 Main Street in 2008 after the Winnipeg Commodity Exchange was absorbed into an American trading exchange.
The present 360 Main Street is home to the Underground Shops of Winnipeg Square. Locally, the building is also known as the Trizec Building since it was originally developed by Trizec.
The building was completed in 1979 and is the third tallest building in the city, at 117 m (384 ft) with 31 floors. The construction of the building originally planned to have a twin with a hotel in the middle. The foundation for the other buildings were completed but the second tower and hotel were never built.
References
- Reuters, November 2, 2007 9:13am EDT – Winnipeg wheat futures slip toward demise-trade
- Levine, Allan (1987). The Exchange : 100 years of trading grain in Winnipeg. Winnipeg: Peguis Publishers. ISBN 0-920541-40-2.