WCE Agreement for Sale

[melvill]

Providing it can meet all the regulatory conditions and a 2/3 majority vote of its shareholders, the WCE has been sold to InterContinental Exchange, Inc., known as ICE. More details are at:

http://www.wce.ca/NewsNotices.aspx?first=newsreleases&Id=499

ICE is a UK-based company that owns the New York Board of Trade, among others. The ICE web page is at:

https://www.theice.com/homepage.jhtml

[Burbert]

More good news, tear down the old and bring in the new. WCE was a joke at the best of times. Create more uncertainty and chaos, prices are bound to continue to rise. Next on the list Can Gain Commission, Ab Barley Commission, Canoli Commission and all provincial ag agencies, pretending to care about farmers, (phone this 800 # for free advice). Turn it all over to the angibusiness agronomists, who really love the farmers and know what is best for them. Buy my products, more fertilizer more herbicide, will make your crops even better, expensive, but in the long run, will pay for themselves......

[wd9]

How about we just nuke Burbert instead!

[Burbert]

wd9, Comments like, nuke this or that, really show how ignorant the farmers on this website are!!!

[FarmRanger]

What wd9?!?!?! And miss all of Burberts little happy face posts trying to cheer everyone on with his minutely amusing mocking and sarcasm. Just seeing that little happy face brings a smile as I read all of his positive suggestions on how to improve our industry by destroying everything except the CWB. He’s never negative about that and always has that little smiley face letting us all know that even through all the disaster that he sees everywhere else, the nurse is still able to bring the little blue happy pills……

A little higher dosage wouldn’t hurt though…..

[parsley]

FarmRanger,

That was a, ah, let's see, ah, a low blow to Burbert.

Parsley

[wd9]

Now that's funny!

Yes Burbert my ignorance overwhelms me, but what I don't know doesn't hurt me either.

[Burbert]

Here is something positive for you gents to mull over. For the past 4 days, I have been shovelling barley, pulling the trigger now that the price is right. Don't know how to market, but the money is good. Confusion and chaos seems to be paying off. Can't sell to the CWB, thanks guys, you are making me some hard earned coin. Bye the bye, why don't you guys go nuke yourselves, now after hearing this sad tale.

[Lifer]

Burb guy. Maybe you should buy an auger.

[Fransisco]

Grain vac would be too new and complicated.

[FarmRanger]

Anyhoo, back to the original intent of this thread…and a couple questions for Lee or Charlie.

Will it make any difference having a U.K. ownership of the WCE? Surely they wouldn’t pay $40 million and then not run it properly.

Will the exchange be accessible to more traders now, and hopefully increase liquidity?

I like having the WCE 10? minute delay prices available on the internet. Hopefully that doesn’t change.

[chaffmeister]

Inter-Continental Exchange (ICE) is based in Atlanta, GA.
Plans for WCE is to continue running it as it stands - as a Canadian-regulated exchange. Gives ICE a Canadian foot-hold. There's no reason to change venues. WCE will trade on ICE platform (instead of current CBOT platform) and clear using ICE facilities (instead of current KBOT facilities).
Best thing is that ICE has deep pockets and that can't hurt market development and marketing of WCE.

ICE also in the hunt to buy CBOT.

[wd9]

Chaff, do you know if the board of directors of Will and the rest will stay on directing?

[chaffmeister]

wd9 - I don't know how much integration with ICE management there will be. Seems to me there is a good case to keep things the way they are for quite a while.

[melvill]

Chaff, I looked around the ICE home page at www.theice.com again and discovered indeed that the ICE HQ is at Atlanta, GA. Sorry for the goof-up. However, the ICE futures HQ is in London, England.

ICE even has an office in Calgary.