Singapore Exchange Makes Successful Crossover To Y2000 - All Systems Ready For Monday Trading

Singapore Exchange (SGX) is pleased to announce that the systems for both its securities and derivatives markets have successfully made the crossover to Year 2000, after conducting mock trading sessions and tests with member firms and other parties today. All 30 member firms and two Approved Foreign Brokers of SGX Securities Trading (SGX-ST) participated in the mock trading session. Various wellness checks were also carried out on back-office applications of member firms, Depository Agents, CPF Agent Banks and The Central Depository. SIMEX has conducted systems tests that covered all functions including trading, trade registration, clearing and settlement with all its 31 Corporate Clearing Members and its overseas partner exchanges. Tests on price dissemination systems have also been conducted with information vendors for both the securities and derivatives markets. As such, both SGX-ST and SIMEX are ready for trading on Monday 3 January, the first trading day in the year 2000. The command centre, which was set up to coordinate and monitor the industry's transition, will continue to be operational on 3 January. Updates on the status of the first day trading sessions will be posted on the SGX website www.singaporeexchange.com. A press release will also be issued on 3 January 2000.