Singapore Exchange Is Y2K Ready

Singapore Exchange (SGX) is pleased to announce that the systems for both its securities and derivatives markets are Y2K ready, having successfully undergone several rounds of industry testing. Those who have participated in the various rounds of tests, including members and price vendors have expressed confidence that the applications systems meet performance requirements for Y2K compliance. In preparation for the first trading day in the year 2000 (Monday, 3 January), and to assure market participants of the systems' smooth functioning, SGX will be conducting mock trading sessions and/or tests with member firms and other parties on Saturday 1 January. All 30 members of SGX Securities Trading Ltd (SGX-ST) will be participating in the mock trading sessions, while Approved Foreign Brokers have also been invited to take part. SIMEX will be conducting systems tests that will cover all functions including trading, trade registration, clearing and settlement with all its 31 Corporate Clearing Members and with exchanges in Chicago, Paris and London. Tests on price dissemination systems will also be conducted with information vendors for both the securities and derivatives markets. Regular updates on the status of the mock trading sessions and tests will be posted on the SGX website www.singaporeexchange.com. A press release will also be issued at the end of the mock trading sessions and tests on 1 January 2000. SGX has drawn up a business continuity and contingency plan in the event of any disruption. A command centre has been set up to coordinate and monitor the industry's transition into the year 2000. Members of the press may contact Corporate Communications during the following times:-31 Dec 1999 2300 hrs - 1 Jan 2000 0300 hrs (Tel: 236 8489 / 8135 / 8137) 1 Jan 2000 0900 hrs - 1330 hrs (Tel: 236 8489 / 8134 / 8139) 1 Jan 2000 1330 hrs - 1700 hrs ( Tel: 236 8489 / 8135 / 8137).