Sorry, folks, THIS WAS ONLY A TEST! -g-
<<Thursday July 23, 3:20 pm Eastern Time
Trade group says Wall Street Y2K test went well
NEW YORK, July 23 (Reuters) - The Securities Industry Association (SIA) said a Year 2000 test among top firms and exchanges was successful, with the computer infrastructure smoothly handling the date roll-over into the new millennium.
The ''beta test,'' which kicked off on July 13, was Wall Street's first united effort at defusing the millennium computer bomb. The 29 Wall Street firms, major U.S. stock markets and some clearing and settlement firms all underwent internal testing before they could take part.
Participants included Wall Street heavies Merrill Lynch & Co. Inc. (MER - news), Spear, Leeds & Kellogg, the New York Stock Exchange, Nasdaq, and the Depository Trust Corp.
''The four-day process showed us that we can successfully simulate trading in a Year 2000 environment,'' said Donald Kittell, executive vice president of the Securities Industry Association said in a press release.
The tests, which kicked off on July 13, ran on four separate days, sending mock orders dated Dec. 29, 1999, through Jan. 3, 2000, to actually simulate the date rollover and settlement time.>> |
