Stan Deudney, former president and chief operating officer of Toronto-based Canadian Depository for Securities Ltd. (CDS), passed away on Aug. 12 following a battle with cancer.

Deudney began his career in financial services when he was brought on to lead the development of CDS, according to his biography at the Investment Industry Association of Canada’s website. He would become the company’s first president from 1980 to 1983.

Deudney continued as an influential figure in the investment industry by founding Toronto-based Gardiner Group Stock Brokers, one of Canada’s first discount brokerages, in 1983.

Deudney then created the first global trade reporting system and settlement system, in 1987, which was acquired by Thomson Reuters Corp.

For the past 25 years, Deudney has served as president of Toronto-based Transatron Systems Inc., a company that delivers financial information and exchange-based trading and settlement solutions.

He received the Queens Jubilee Award in recognition of his achievements in the securities industry.

A service will be held at Low & Low funeral home in Uxbridge, Ont. on Friday at 12:00 pm. All are welcome. A private family gathering will follow. In lieu of flowers, donations for cancer research will be accepted.