Winnipeg Commodity Exchange

Identity area

Type of entity

Corporate body

Authorized form of name

Winnipeg Commodity Exchange

Parallel form(s) of name

  • International Commodity Exchange Inc.

Standardized form(s) of name according to other rules

Other form(s) of name

Identifiers for corporate bodies

Description area

Dates of existence

1887-

History

The Winnipeg Commodity Exchange was founded in 1887, as the Winnipeg Grain and Produce Exchange, by a group of Winnipeg grain merchants. It served initially as a forum for cash trades in Canadian grains, but, in 1904, introduced trading in wheat futures and subsequently added futures trading in barley, oats, flax, and rye. In 1908, the Exchange was re-organized as a voluntary, unincorporated, non-profit organization and its name was changed to the Winnipeg Grain Exchange.

The Grain Exchange grew in importance with the Canadian grain economy so that by 1929, it played a major part in the establishment of world grain prices and the establishment of the Canadian Wheat Board in 1935. In 1943, the Wheat Board was given a monopoly in the marketing of wheat. In 1949, this monopoly was extended to oats and barley. The importance of the Exchange began to revive in 1963 with the establishment of a futures market in rapeseed. In 1972, a market in gold futures was opened, at which time the Exchange changed its name to the Winnipeg Commodity Exchange. In 1974, part of the trade in barley, oats, and feed wheat was restored to the Exchange and a market in eastern corn was opened.

The Winnipeg Commodity Exchange Inc. (W.C.E. or the "Exchange") is Canada's only agricultural futures and options exchange. Contracts traded on W.C.E. include futures contracts for canola, flaxseed, domestic feed wheat, and domestic feed barley. Options on canola, flaxseed, feed wheat, and feed barley are also traded. In 1996 the Winnipeg Commodities Exchange was Incorporated by an Act of the Manitoba Government. In 1998 WCE Clearing Corporation was established. On Feb. 1, 2004 WCE celebrated a 100 years of Futures Contract Trading. Later that year marked the end of open outcry trading on December 17th. The WCE was acquired by International Exchange Inc. on August 28, 2007. After 131 years of operation ICE moved to New York in July 2018.

Places

Legal status

Functions, occupations and activities

Mandates/sources of authority

Internal structures/genealogy

General context

Relationships area

Access points area

Occupations

Control area

Authority record identifier

wce

Institution identifier

Rules and/or conventions used

Status

Draft

Level of detail

Partial

Dates of creation, revision and deletion

Created by Brett Lougheed (2003). Revised by Lewis St. George Stubbs (August 2019).

Language(s)

Script(s)

Sources

Maintenance notes

  • Clipboard

  • Export

  • EAC