The 113-year-old Winnipeg Commodity Exchange Canada’s only commodity futures market said Friday it has struck a deal to be bought for $40 million by Atlanta-based IntercontinentalExchange Inc.

WCE Holdings Inc., the parent of Winnipeg Commodity Exchange, WCE Clearing Corporation and Canadian Climate Exchange Inc., said it has agreed to a takeover offer of$62.08 per common share.

Lorne DeJaeger, the chairman of WCE Holdings Inc., said the WCE and the climate exchange will continue to operate in Winnipeg.

Established in 1887, the WCE has been doing futures contract trading since 1904. The exchange was also the first North American commodity exchange to shift to all-electronic trading when it shut down its “open outcry” system in December 2004.

The exchange has trading futures and options contracts on canola, domestic feed wheat and western barley.

IntercontinentalExchange operates electronic trading markets for energy and other commodities. The company is currently in a bidding fight with the Chicago Mercantile Exchange Holdings Inc. to acquire the Chicago Board of Trade. In January, ICE bought the New York Board of Trade.