STOCK MARKET CLOSING EARLY FOR Y2K

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http://www.usatoday.com/life/cyber/tech/ctf330.htm

-- Get out now (Uninvested@IgotOUT.com), June 07, 1999

Answers

http://www.usatoday.com/life/cyber/tech/ctf330.htm

[snip]

06/04/99 - Updated 03:26 PM ET

Stock markets to close early for Y2K

NEW YORK (AP) - Major U.S. stock markets will close early on New Year's Eve as a precaution against any Year 2000 computer glitches, officials said.

Trading on the New York Stock Exchange, the Nasdaq Stock Market and the American Stock Exchange will end at 1 p.m. on Dec. 31. Traditionally, the markets only close early on two days of the year: the day after Thanksgiving and Christmas Eve.

''We have the utmost confidence that our systems and the systems of those who use the markets have been remediated or will be in perfect shape for the millennium change,'' Richard Grasso, chairman of the NYSE, said Thursday. But, he added, ''I believe it's a prudent step'' to close early.

The Y2K bug could occur if computers programmed to recognize only the last two digits of a year assume it is 1900 instead of 2000.

Grasso made the comment after announcing the NYSE would not offer extended trading hours until the second half of 2000. Grasso said he didn't want to ''upset the apple cart'' by demanding more changes to the trading systems on top of Year 2000 efforts and plans to switch stock prices to decimals from fractions. [snip]

-- Linkmeister (link@librarian.edu), June 08, 1999.


Hmm...just noticed something. The exchanges will be open the morning of December 31st--the same morning that New Zealand, Australia and Japan rollover into 01/01/00. Let's hope for the market's sake on the 31st that visible Y2K problems in that part of the world are few.

-- Linkmeister (link@librarian.edu), June 08, 1999.

Linkmeister,

Excellent point. Should be a REAL eye opener.

-- Get out now (Uninvested@IOUT.com), June 08, 1999.


A kick in the ass says they will not be open that morning. Justthinkin com

-- justthinkin com (y2k@justthinkin.com), June 08, 1999.

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