Tomorrow may be a very interesting day...

Monday, February 21, 2000

TSE closes early due to computer glitch

By JOHN McHUTCHION , CANOE Money

The Toronto Stock Exchange closed early Monday afternoon as computer trading problems affected the exchange for the second trading day in a row.

The TSE decided to close two minutes early at 3:58 p.m. EST when the exchange found out that all its members using the order management system were impacted by the glitch.

The problem meant trades were not going through, said TSE spokesperson Steve Kee, adding that the exchange was alerted to situation at 3:45 p.m.

The exchange said the problem is still being investigated. The closure forced the closure of Monday afternoon's last-sale trading session.

Trading volume on the TSE on Monday was over 230 million shares.

On Friday, big trading volume on the TSE meant customers meant customers suffered delays getting computerized confirmations on their trades.

Canoe Money, Canada

http://www.c anoe.ca/MoneyNews/feb21_tsecloses.html

-- Carl Jenkins (Somewherepress@aol.com), February 22, 2000

Answers

WOW! Thanks Carl.

-- Dee (T1Colt556@aol.com), February 22, 2000.

carl's cite: "The TSE decided to close two minutes early at 3:58 p.m. EST when the exchange found out that all its members using the order management system were impacted by the glitch."

What glitch is this? Is it our glitch?

Isn't the press playing with words? I think of a glitch as trying to close a drawer in my kitchen, darn, it hangs up, must be all the plastic spoons and paper napkins I stole from the 7-11 and McDonalds. That's a glitch. Too much stuff in there but a second of pushing and it closes.

A stock market's problems aren't glitches. Any one transaction could be the life savings of someone. We need this money for bail -- Auntie Lulu was arrested for asking Officer Barney Fife for a date again. It's not a glitch.

-- cory (kiyoinc@ibm.XOUT.net), February 22, 2000.

If this and other stock exchange disruptions are due to Y2K than why now?

Could it be due to the higher volume overloading a less than robust system?

Can a Y2K problem slow down or deteriorate the reliability while the system appears to be functioning normally?

I suspect the answers to the above are Yes.

-- Bill P (porterwn@one.net), February 22, 2000.

wo.

-- Squirrel Hunter (nuts@upina.cellrelaytower), February 22, 2000.

Well! I tried to buy stock today on the Toronto exchange and it didn't go through...at least not that my broker knew about...and it IS my life savings ( IRA) Am I SOL?

Crow

-- Crow (suzan@monad.net), February 22, 2000.