Winnipeg’s downtown Commodity Exchange Tower will soon be a misnomer.
The lease is up and offices of ICE Futures Canada, Inc., formerly the Winnipeg Commodity Exchange will be moving closer to the suburbs in June, according to the president and CEO of the exchange.
Brad Vannan said that the space currently used by the organization was designed for a fully functional open outcry trading floor. That has been replaced by a fully electronic trading forum.
He said when the exchange was operating a fully functional trading floor, the exchange had at least 45 full-time employees.
“Our staff compliment is significantly smaller with 13 employees at present,” Vannan said. “Since we were in a position that we needed to move anyway, the decision was made to consider alternatives.”
As a company, the decision to move was based on at least three key ingredients, customer requirements, staff needs and the cost associated with the space that is available, Vannan said.
He said customer requirements have changed significantly, specifically the need for centralized access to the facility. “Since the trading floor has gone electronic, there is no longer a need to have a central location,” Vannan said.
The new digs will be at 850A Pembina Highway. Phone and fax numbers remain the same.
“The location we have chosen still provides easy access and if it is inconvenient for our customers, I can meet with them where required.”