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1997-06-27 00:00:00


Securities Industry's Estimated Y2K Repair Cost: $5 Billion



One estimate for repairing the entire securities industry: $5 billion. This estimate apperared in Australia's magazine, FINANCIAL REVIEW (June 26).

Who will pay this bill? Who will manage the teams to make sure that each firm's repair matches the repairs at all the other firms? Again, it's a systems problem. The article quotes the Information Technology Association of America. We are facing "arguably the largest and most complex global information challenge that the world has ever faced."


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