The regulatory hurdles have been cleared and the Winnipeg Commodity Exchange is running down the last few weeks before electronic trading takes over.
The Manitoba Securities Commission has approved the exchange’s conversion to an all-electronic format, eliminating the trading floor. It will continue to allow the WCE Clearing Corp. to clear trades and the Kansas City Board of Trade to provide back-office processing.
Mike Gagne, president and chief executive officer of the exchange, said it is on schedule to do the switch on Dec. 20 and believes the move will bring new players to the game.
“There has been overwhelming interest expressed in the WCE since we announced the change to electronic trading and we are expecting registration of 15-20 new trading participant firms prior to Dec. 20,” Gagne said in a News release
news.
