Tributes to late Stuart Rees, founding CEO of SAFEX

From Allan Thomson of Dreadnought Capital:

I am very sad to inform you that Stuart Rees passed away last Saturday. Stuart was the first CEO of the South African Futures Exchange (SAFEX.)

Many of the practices we take for granted in the South African derivative markets were conceived and implemented by Stuart. He was an innovator and a giant in the South African financial markets. As a result the South African financial markets have taken huge strides based on Stuart's vision and the inestimable value he contributed to conceptualising and implementing the futures market in South Africa.

Stuart was latterly involved in establishing derivative markets on the African continent with Dreadnought Capital.

The South African and African financial markets will be immeasurably poorer with the passing of Stuart Rees.

Intrepid Capital will sorely miss the loss of their chairman. Our condolences are extended to Stuart's wife, family and friends.

From Kimon Boyiatjis of Trident Capital:

I was saddened to hear of Stuart's passing.  I think I was the third registered futures trader in South Africa and I recall having long conversations with Stuart.  Prior to the actual formation of Safex, RMB used to do the clearing.  I recall how many stockbrokers were so anti-futures.  They said 'well, if we have these futures market, people will stop buying shares'.  What ended up happening was the tail wagged the dog, and the evolution of the futures market in South Africa actually brought major amounts of volume and liquidity into the market.  Stuart was an interesting guy.  We had many chats on whether or not Safex would survive or not.  May he rest in peace; he was a good man.