Securities Industry in Massive Year-2000 Simulation

By Power, Carol | American Banker, March 3, 1999 | Go to article overview

Securities Industry in Massive Year-2000 Simulation


Power, Carol, American Banker


By CAROL POWER In testing scheduled to begin this weekend, the securities industry will attack the year-2000 bug en masse. More than 400 organizations representing 98% of the U.S. securities processing infrastructure will take part. They include major broker- dealers, custodians, stock exchanges, clearing and settlement utilities, vendors, and news providers. Under the aegis of the Securities Industry Association, the test will simulate trading cycles, from order entry to settlement, as they would occur from just before New Year's Day to well into January, with between 500,000 to 750,000 validation points for all participants. The objective is "to protect the United States investing public," said Arthur Thomas, senior vice president and director of global operations services at Merrill Lynch & Co. and chairman of the SIA's year-2000 steering committee, which announced the effort Monday. "We are simulating a real live cycle, and we're the only industry, to my knowledge, doing so." Some 5,000 people will participate in the test over six weekends. March 6-7 will represent Dec. 29, 1999; by April 24-25 the participants will be at Jan. 22, 2000, which will be complicated by options expirations. There are 850 test conditions covering nine major product groups: equities, options, corporate bonds, municipal bonds, unit investment trusts, mutual funds, money markets, government securities, and mortgage- backed securities. Tests will be run on a combination of production and test systems and communication lines, instead of separate systems set up exclusively for year-2000 testing. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Securities Industry in Massive Year-2000 Simulation
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.