William Lupien noticed a Rolls-Royce parked at the apartment complex he managed near Los Angeles in the mid-1960s. Figuring it might be worth knowing the owner of such a car, Mr. Lupien introduced himself to Edward Calin, a prominent trader on the Pacific Coast Stock Exchange. Mr. Lupien, in his mid-20s, was trying to break into the securities industry. Mr. Calin, a partner at the brokerage firm Mitchum, Jones & Templeton, hired Mr. Lupien and trained him as an exchange-floor trader. By 1974, Mr. Lupien was president of Mitchum Jones. Meeting Jerome Pustilnik transformed his life again. Mr. Pustilnik in 1969 launched Institutional Networks, later known as Instinet, a pioneer in electronic trading of stocks. Mr. Lupien bought stock in Instinet and in 1983 became chief executive officer. Reuters Holdings acquired Instinet in 1987 in a deal valuing the firm at around $100 million.