To: gamesmistress who wrote (2137 ) 7/14/1998 1:18:00 PM From: C.K. Houston Read Replies (1) | Respond to
CURRENT WALL STREET "YEAR 2000" TESTI've put excerpts from several articles together which relate to this test Wall Street to Turn Clock Ahead to See if Year 2000 Computes Message 5172262 Those managing the securities tests are discouraging any attempt to draw broad conclusions from them. The managers point out, for example, that the tests will deal with very small volumes of fictional securities, and they describe the exercise as a mere dress rehearsal for high-volume tests planned for next spring. Some major computer systems have been completely excluded , including those that manage dividends and interest, margin trading and client account records. The securities companies participating in the test that starts Sunday account for about half the trading volume in stocks, bonds, options and other major financial instruments. Each agreed to set up a discrete computer operation to run the tests. In the United States alone, securities companies are expected to spend $3 billion to $5 billion addressing year 2000 and related computer problems. Wall Street's ability to function will depend not just on the internal systems it began to test today but on the preparedness of markets overseas , where many players offset any bets placed domestically. depend heavily on the year 2000 readiness of New York City's power, water and telecommunications utilities, of the elevators leading to the trading rooms and of countless other systems that are beyond its ability to test.Each phase of the millennium problem -- from identifying vulnerable systems to figuring out remedies to testing fixes -- has proved more complicated, time-consuming and expensive than had been expected. The emerging consensus has been that testing has been the most widely underestimated challenge. "And even the best testing programs can only check through a fraction of the scenarios that computers will encounter in daily operations in the new century. EXCLUDING TRADING VOLUME TESTING biz.yahoo.com "... some were concerned over the decision to exclude trading volume in testing that began today (July 13) of Wall Street' computer readiness for the year 2000." could fail which could slow down its ability to process trades . But he said the SIA and its members had to prioritize on what it would test for, and that volume was seen as an issue that the firms could handle separately." OPTIONS CLEARING CORP: EMBEDDED SYSTEM LAND MINES zdnet.com Len Neuzil is one of the few IT executives who should feel confident that all systems are go for the year 2000. ... that reside within mainframes, servers, power grids and telephone circuit switches, to name a few. These embedded microprocessors, Neuzil would argue, are the real ticking time bombs, not the software programs. One day down would be a $30 billion liability for OCC , Neuzil says.
