STORY:
Wall Street Y2K Ready

Stock exchanges, SEC complete Y2K tests and predict no problems on January 1

Computers that run the most important stock exchanges in the world are fixed and ready for the new century say industry and US federal officials. Even the White House's Y2K czar, John Koskinen has given his blessing saying that Wall Street will be "business as usual" on and after January 1, 2000.

Officials with the New York Stock Exchange, National Association of Securities Dealers and the Security Exchange Commission say significant steps have been taken to rid the vast network of computers of the so-called computer Y2K bug. The officials also said they aren't worried about the readiness of financial computer systems abroad.

The group also dispensed tips to help investors prepare for the changeover, recommending that they keep good records and stay informed about what banks and brokers are doing to get ready for the Year 2000.

Brokerages are now under the gun to prepare for the Year 2000. Their business could come to an abrupt halt under threat of a rule that requires them to cease business and transfer customer accounts to other securities firms if they haven't adequately addressed Y2k computer problems by Nov. 15.

Source: Bloomberg News

DATE: 09/08/99

Marketplace
Books
Collectibles
Celebration Supplies
General Merchandise
Travel Packages