Waterhouse Securities Y2K Statement

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

The following is a quote from TD Waterhouse Institutional Services Bulletin dated 11/3/99:

"TD Waterhouse Group has a reasonable basis for believing that it is now Year 2000 compliant, meaning that our systems and applications are no more likely to produce logical or arithmetic inconsistencies when dealing with dates beyond December 31, 1999 than they are when dealing with dates before December 31, 1999. Subject to routine development and maintenance not related to the Year 2000 effort, all Year 2000 work is completed (other than ongoing testing) and there are no known remaining systems, programming changes, or checks to be made, other than those involving outside providers or services (e.g. service bureaus, clearing brokers, market data services)."

It's easy to sense a lawyer's hand in this statement. Nontheless, do these words comfort any of you folks with Waterhouse accounts?

-- mike (maples@voy.net), November 09, 1999


Sounds like they are claiming to be done...as far as a single company can be done... Good for them! Their Y2K remediation staff gets to rest for 52 days. Now, if the stocks, bonds, and other securities in their portfolios retain some semblance of their value and liquidity, their customers will be in reasonable shape.

-- Mad Monk (madmonk@hawaiian.net), November 09, 1999.

I think it's a funny statement--as in ha ha, funny.

-- Mara (MaraWayne@aol.com), November 09, 1999.

It's refreshingly honest, and it makes it obvious that nobody know what's going to happen. Kudos to them for not claiming "We are 100% compliant!" and then qualifying it with 20 pages of small print.

-- Colin MacDonald (roborogerborg@yahoo.com), November 10, 1999.

Moderation questions? read the FAQ