The Winnipeg Commodity Exchange — Canada's oldest and only commodity futures market — is closing after 131 years says a report from CBC.
In a notice to customers May 1 the owner of exchange, Intercontinental Exchange Inc. (ICE), announced plans to transition the trading and clearing of their canola contracts to New York July 29.
"The canola contract has grown quite a bit over the last 10 years and the feeling is that in order to provide the best environment for continued growth, we'd move it to a bigger market," explaines Brad Vannan, president and CEO of ICE Futures Canada.
