DEFINITION of 'Winnipeg Commodities Exchange - WCE'
A commodities exchange in Winnipeg, Manitoba, that serves as Canada's only agricultural futures and options exchange. Canola is the Winnipeg Commodities Exchange's (WCE) primary commodity, but the WCE also trades contracts on many other commodities and provides the world's only flaxseed futures market.
BREAKING DOWN 'Winnipeg Commodities Exchange - WCE'
On Dec 20, 2004, the WCE became North America's first commodities exchange to utilize a trading platform that is entirely electronic, and is recognized as a leading global provider of price-discovery and risk-management tools for canola.
The WCE does not buy or sell any instruments on its exchange or play any role in price setting or discovery. Its mandate is to provide trading rules and facilities, so that buyers and sellers may conduct transactions and determine prices. The WCE is regulated by the Manitoba Securities Commission under the authority of the Commodity Futures Act of 1996.