20000101ISE trading system fully Y2K compliant

Sohail Sarfraz

ISLAMABAD: The management of Islamabad Stock Exchange has announced that ISE Computerised trading system is Y2K compliant and much orchestrated computer glitch will not effect shares trading.

The ISE has successively tested its system with new date of January 1, 2000 on last Thursday and all systems including financial and accounting run smoothly.

Managing Director of ISE Gul Niazi told Business Recorder that ISE has already conformed to Security and Exchange Commission of Pakistan (SECP) that Islamabad Stock Exchange is fully Y2K Compliant. As there will be no interruption or any kind of difficulty in trading of shares at the outset of the new millennium.

He said that technically Thursday being the first trading day of the week was run with new date. All members and corporate houses of ISE witnessed error-free working of the computerised system with new date of January 1, 2000 on Thursday.

Commenting on the news published in a section of press about the bug in ISE computers, he termed the news was totally baseless and fabricated.

He said that the computer system of Islamabad Stock Exchange has been installed with Y2K upgrade compliance cards as an additional precautionary measure. These new upgrade cards are fully capable of handling any kind of date related problem well in time.

Managing Director of ISE stated that in order to cope with the needs of growing number of users, the Islamabad Stock Exchange has already installed new computerised network system that would allow more users to login to the system and have error-free operations.

The ISE has experienced higher efficiency rate and improved performance after the new system "Thin Client Architecture" become operational.

Following the working of present system, the database of Islamabad Stock Exchange has become much more secured as the backup and recovery of data have been centralised and automated on the server.