BSX Remembers Junius ‘Jay’ Peake
The Bermuda Stock Exchange [BSX] issued a statement after they learned of the death of Mr. Junius W. Peake, at age 80, in Greeley, Colorado, U.S.A.
“Peake, who died on 27 January, 2012, is remembered by the BSX for his vision and for being one of the finance industry’s earliest and most persistent proponents of electronic trading. Peake was a contributor to a 1975 submission to the SEC advocating a change to electronic trading as the way of the future and, undeterred by the prevailing skepticism of the time, went on to establish the world’s first fully electronic Derivatives Exchange, INTEX, in October 1984, based in Bermuda.
“INTEX was established to meet a need for an international market facility that provided a worldwide, around-the-clock trading capability. Peake also recognized the importance of Bermuda as a jurisdiction of choice when, in a speech he delivered in September 1982, he cited Bermuda’s location, modern infrastructure, political stability and growing international business community as amongst the reasons why INTEX chose to incorporate in Bermuda.
“Peake and INTEX helped set the benchmark for all securities exchanges, including the BSX, which embraces the principles and benefits of electronic trading. The BSX remains indebted to visionaries such as Peake, and has used his vision as the basis in the development of the Bermuda Stock Exchange platform.”
