The president of the Toronto Stock Exchange will retire at the end of 1994. “I’m pleased to be leaving the exchange when it’s in such good financial condition and at a time when we have moved into a position as the second-largest exchange in North America,” said Pearce Bunting, who turns 65 in September.
Bunting served with the TSE for 17 years, during which time it became a world leader in electronic trading. It was the first exchange in the world to offer fully automated trading and the first to display information on the bids and offers in its trading book to all investors.
The Exchange was also the first to allow direct order entry by institutions, through member firm networks, to its fully electronic trading system. In the near future, all orders for shares will be entered from office trading terminals and the equity trading floor will close.
During his term, Bunting served as president of the International Federation of Stock Exchanges (FIBV) from 1983-84. In 1984, he founded the International Capital Markets Group, which co-ordinates research studies on international securities trading by the FIBV, the International Bar Association and the International Association of Accountants.
Before becoming TSE president, he was president of member firm Alfred Bunting. He served as chairman of the TSE in 1973-74.
A committee has been formed to seek a new president.
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