The Chicago Mercantile Exchange, a futures trading organization, began its y2k repair project in 1993. It took three years to begin phases one and two: inventory and assessment. Inventory and assessment took from 1996 until now.
It promises to be ready for testing on . . . December 31, 1998.
Right: two years to get through inventory and assessment (
6% of a normal y2k project), and it will be ready for testing just eight months after it begins code repair.
This appeared in COMPUTERWORLD (May 11).
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The project involves conversion of more than 7 million lines of code and will take 12 months and "millions" of dollars to complete, the Merc said in a press release. The testing and quality assurance phase is scheduled to begin at the end of the year and will serve "as a safety net in avoiding year 2000 pitfalls." . . .
The Merc said its year 2000 planning began about five years ago and involved 225 at-risk systems. The preliminary stage of this process, inventory and assessment, began in 1996. After learning that nearly half of the systems were noncompliant, the exchange said it began an "exhaustive search" for the right vendor to fix the problem. It chose RCG Information Technology, Inc. in New York.