On November 1, 2001 or shortly thereafter, Winnipeg Commodity Exchange will be continued as a for-profit share corporation to be known as WCE Holdings Inc., governed by the provisions of The Corporations Act (Manitoba).
Once all transactions are complete, Winnipeg Commodity Exchange Inc. and WCE Clearing Corporation will be wholly-owned subsidiaries of WCE Holdings Inc.
Each holder of Winnipeg Commodity Exchange membership certificates will exchange each membership certificate for Class A common shares of WCE Holdings Inc. All rights to use the facilities of the Exchange will arise out of contractual relationships between "Participants" and Winnipeg Commodity Exchange Inc.
WCE is Canada's only agricultural futures and options Exchange and is Canada's premier market for canola futures. The Exchange currently has a membership of 240, which annually accounts for the generation of derivative trades on the exchange based on underlying agricultural commodities valued at over $13 billion.
With a proud 114-year history the WCE will continue to provide financial instruments for price discovery and the transference of risk in an efficient and open manner.
