Monday, October 22, 2007

Profile of PEARCE BUNTING (aka The President)

Pearce was (and still is) the longest serving President of the Toronto Stock Exchange. His legacy is that he is the "father of CATS - Computerized Assisted Trading System". In the mid- 1970's, a time when we still had spittoons on the trading floor and elevators had operators, Pearce was thinking of a computerized trading system. CATS went live in 1977 and the TSE had an enormous lead on the whole world. When the floor closed in 1997, the CATS system was used and still leading in technology - a strong indication of how good the system really was. The CATS engine was eventually replaced in 2001. This man was a true innovator.

1 comment:

Anonymous said...

Cats trading = the end of the 'floor trader'.