JSX ready for the millennium bug<\/p>\n
JAKARTA (JP): The president of the Jakarta Stock Exchange
\n(JSX), Mas Achmad Daniri, said on Tuesday the exchange was nearly
\nyear 2000 compliant.<\/p>\n
\"Almost 100 percent of the hardware in the exchange's
\ninfrastructure is Y2K compliant,\" Daniri said.<\/p>\n
However, he said some minor problems in a few areas still
\nrequired further attention.<\/p>\n
\"Only some minor areas need fine-tuning,\" he said, adding
\nthat the exchange was working with an Australian Y2K auditor
\nfirm.<\/p>\n
The exchange's management has now turned its attention to
\nhelping exchange members and listed companies reach Y2K
\ncompliance.<\/p>\n
According to the exchange's latest bulletin, of 46 exchange
\nmembers, 20 are 100 percent Y2K compliant, 18 are 75 percent
\ncompliant, three are 50 percent compliant, three are 25 percent
\ncompliant and one is 90 percent compliant.<\/p>\n
The bulletin also said most of the companies listed on the JSX
\nwere nearly Y2K compliant.<\/p>\n
As the next millennium approaches and with the press
\nprogressively reporting the threats behind the millennium bug,
\nmany local companies have become increasingly anxious about the
\nfuture of their computerized operations.<\/p>\n
Experts said it could take up to three years to make the
\ncomputerized system and equipment of a big corporation Y2K
\ncompliant, and cost the corporation up to US$30 million.<\/p>\n
Smaller companies with less dependency on computer systems may
\ntake less time to carry out the Y2K preparation program, and cost
\nthem about $50,000.<\/p>\n
Daniri also said the exchange's infrastructure was compatible
\nwith the planned system for the secondary market for government-
\nissued bonds.<\/p>\n
He said JSX management would work with the management of the
\nSurabaya Stock Exchange to support the establishment of the bond
\nmarket.<\/p>\n
The government has said it will coordinate with the central
\nbank and capital market authorities to set up a secondary market
\nfor the bonds.<\/p>\n
Daniri said he had met with officials from the Ministry of
\nFinance to discuss the establishment of the bond market. (udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-ready-for-the-millennium-bug-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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