IPE Successfully Completes Millennium Testing

The IPE opened for business as usual this morning following a successful test of its internal and external systems and facilities over the long weekend. A comprehensive programme had been developed to ensure that the IPE was fully prepared for the millennium bug and could continue to offer risk management and investment services to the international energy and financial industries. Testing included surveys of utilities and building infrastructure, trading, clearing, price reporting and settlement systems as well as links with other exchanges and Member firms. Progress reports for each stage of the testing were updated regularly over the long weekend on the IPE's website. Richard Ward, chief executive of the IPE said "we are delighted that the IPE has come through the Y2K test with flying colours. The complexity of our systems and the importance of guaranteeing a high quality service for Members and users of our market meant that we had a great deal of testing to complete. I would like to thank staff at the IPE, Member firms, other exchanges and the London Clearing House for their work not just in the last few days, but also over the last two years that has ensured a problem free millennium for us all."