ALYA Cost cutting system via software as well as security Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : ALYA Cost cutting system via software as well as security

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: MeDroogies who wrote (1429)	7/24/1998 2:56:00 PM
From: Essam Hamza	Read Replies (1) of 2534

Wall Street Y2K Tests Done by Yukari Iwatani 6:30pm 23.Jul.98.PDT Wall Street brokerages and exchanges completed a two-week test of their stock-trading computers without finding significant evidence of the millennium bug, the Securities Industry Association said Thursday. "The tremendous amount of preparation that has gone into this beta test has paid off," said Donald Kittell, executive vice president of the securities association. "The four-day process showed us that we can successfully simulate trading in a year 2000 environment." During the past two weeks, 29 securities firms and 12 exchanges simulated trading of stocks and bonds between the last business week of 1999 and the first week of 2000. They were looking for millennium bugs, the inability of computers to handle dates correctly beyond the Year 2000. If the glitches aren't detected and fixed in advance, they could throw stock markets all over the world into chaos. Computers with flaws could cause unpredictable problems, ranging from producing inaccurate data to making faulty calculations to crashing networks completely. Preliminary results seemed to show that Wall Street was heading in the right direction to prevent such mass confusion. Barring a few technical problems, in which a computer failed to recognize valid test symbols and sent some trades to incorrect regional exchanges, tests went smoothly, according to the association, which sponsored the test. "All in all, we were very pleased. It seems that the methodology is working," said spokeswoman Margaret Draper. "We were able to simulate trading in a year 2000 environment." The association expects to release a final report on 10 August after they analyze results trade by trade. If results show that the test needs to be revised, participants may schedule a second round in the fall after firms have fixed the problems. A final industrywide test is scheduled for spring 1999. wired.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next