MCGA is Asking Members to Call Their MLA's

Manitoba Canola Growers Association (MCGA) is strongly encouraging their members to call the Manitoba Security Commission (Don Murray 204-945-2551) or their MLAs to ask them for an independent study of the Winnipeg Commodity Exchange (WCE) going to electronic trading. It is the Manitoba Security Commission (MSC) that regulates the WCE and the MSC comes under the Manitoba Government.

Public submissions to the MSC are due October 22nd of this month. MCGA has made their submission but would like canola growers to voice their concern that not enough time has been spent on how electronic trading is going to effect the canola contract. MCGA is concerned that once the WCE goes to electronic trading there will not be enough players out there that will be willing to trade the canola contract. If that happens then the canola contract will fail and canola growers will lose their price discovery mechanism and a risk management tool. "We have met with the WCE several times but they can not tell us what they are going to do if the trades fall off on the canola contract once they go to electronic trading." says Bruce Dalgarno Marketing Chairman of the Manitoba Canola Growers Association.

"All we are asking the MSC to do is have an independent company review the WCE going to electronic trading and answer some of the questions that we have not been given answers to. The study could be done before the WCE goes electronic or it could be done while the Exchange uses both the outcry system and the electronic trading system. That way we could see how electronic trading is working." Says Dalgarno.

The Manitoba Canola Growers Association is a non-profit organization made up of producers who share the goal to develop and promote the development and marketing of Manitoba grown canola.

For more information contact:

Bill Ross, Executive Manager
Manitoba Canola Growers Association
204-982-2120
Email: rossb@mcgacanola.org

Bruce Dalgarno,
Chairman of Marketing Committee
204-849-2193