Pakistan Stock Market Killed By Y2K : LUSENET : TimeBomb 2000 (Y2000) : One Thread

-- Xat (, January 01, 2000


Fair Use...

ISE first casualty of the millennium bug ISLAMABAD (Fortuna) - Islamabad Stock Exchange became the first casualty to the Y2K bug as its computer software refused to acknowledge turn of the century.

The country's technologically most ill-equipped stock exchange failed to meet the Y2K challenge and the management of the bourse was forced early this week to exclude dates from all transactions, causing all sorts of problems for its brokers.

Islamabad Stock Exchange computers insisted that it will be 1st of January, 1900 after midnight of December 31, 1999. The dates and days and settlements will go haywire if the stock exchange lets brokers use dates for recording transactions ahead of the turn of century.

For instance, the computer will put all transactions made on January 1, 2000 ahead of the first recorded transaction because the computer will recognise it as a transaction made on January 1, 1900 and therefore just a day short of 100 years before the last transaction. This latest development does not please members of the stock exchange who have been forced to record manually each one of their thousands of transactions for the day.

"The fact that our computers are not Y2K compliant has literally taken us to the early 20th century period, with all members having to manually sort out their transactions," said a member of the Stock Exchange asking not to be named.


-- Mike Taylor (, January 01, 2000.

Another CUT. Time will tell..............

-- Scotty (, January 01, 2000.

Link and thanks. After the big sigh of relief and Happy Faces at rollover, now we can start concentrating on the real issues, like this one.

-- Servant (, January 01, 2000.

No scenario can be ruled out this early in the game...I'm still prepping. Anybody selling "unneeded" items?

-- TM (, January 01, 2000.

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