WCE’s Transition To Electronic Trading Receives Regulatory Approval

The Manitoba Securities Commission (“MSC”) has approved the continued registration of Winnipeg Commodity Exchange Inc. (“WCE”) under an electronic trading environment scheduled to launch on Monday, December 20, 2004. The MSC also approved the continued designation of WCE Clearing Corporation as the designated clearing house for WCE with certain back office clearing processing services to be provided by the Kansas City Board of Trade Clearing Corporation.

“The regulatory approvals are a major step with regard to the overall transition,” said Mike Gagné, President and CEO of the Exchange. “We are proceeding on schedule with the development and simulation phases to ensure all existing and new participants will be connected and ready for launch date. There has been overwhelming interest expressed in the WCE since we announced the change to electronic trading and we are expecting registration of 15 to 20 new Trading Participant firms prior to December 20th,” added Gagné.

WCE will be North America’s first commodity exchange to fully convert to an electronic trading platform.

Winnipeg Commodity Exchange Inc., established in 1887, has been facilitating futures contract trading since 1904. WCE is Canada’s only agricultural futures and options exchange and offers futures and options contracts on canola, flaxseed, domestic feed wheat, and western barley. For more information on the Exchange, visit www.wce.ca