ASX Trading December 1999 and Y2K

There will be no trading or settlement on ASX on Friday 31/12/1999. The reasons for this decision are Y2K related. This approach will allow ASX and market participants (brokers) time to perform end of day, end of month, end of year processing and back ups on 31/12/1999 (without extending into 1/1/2000). The decision followed extensive consultation with industry participants. It is consistent with the approach taken by some other Exchanges internationally. Whether or not ASX will close on 3/1/2000 will depend on whether either NSW or Victoria declares a public holiday. ASX is likely to be the first major Exchange in the world to open for business in 2000.