John Pearce Bunting, the longest-serving president and CEO in the history of the Toronto Stock Exchange (TSX), has passed away.

Bunting, 87, died on April 27 at Credit Valley Hospital, in Mississauga, Ont., according to an obituary notice.

"During his tenure, Pearce was a true visionary and marketplace innovator, leading Toronto Stock Exchange to defining, historic achievements," the TMX Group Ltd. said in a statement.

Bunting led the TSX from 1977 to 1994, overseeing its transition from a traditional, trading-floor business to the early days of electronic trading, with the introduction of the Computer Assisted Trading System, or CATS, in 1977. While Bunting was at the helm, the TSX also launched the world's first ETF, the Toronto 35 Index Participation Fund, in 1990.

As well, Bunting served as president of the International Federation of Stock Exchanges from 1983 to 1984, and founded the International Capital Markets Group in 1984.

Prior to joining the TSX, Bunting worked on Bay Street, first with McLeod Young Weir Ltd. (a predecessor of ScotiaMcLeod Inc.), and later as president of his father's firm, Alfred Bunting and Co. (which became Bunting Warburg Inc.).

Bunting also served as chairman of the TSX in 1973-74, and on its board of governors from 1968 to 1974.

A memorial service is scheduled for May 13 at the John Bell Chapel at Appleby College in Oakville, Ont., where Bunting attended school and later served as governor, chairman and president.

Bunting is survived by his wife, an ex-wife, five children, and three grandchildren.