As earlier announced by the SC (on 29 July 1999), 31 December 1999 is made a non-trading and non-settlement day to allow the exchanges, central depository and clearing houses to consolidate their databases, conduct full backup of their systems and databases and to test the recoverability of the backups made.
Under normal circumstances, the backup and consolidation process would go into the next month. However, as a precautionary measure to avoid any data loss during the critical Y2K period, the exchanges and clearing houses will work to ensure that all data is processed before midnight on 31 December 1999.
The SC also wishes to remind the public that they may contact the SC Y2K Command Centre (YCC) for Y2K enquiries relating to the capital market. The YCC can be reached at:
Telephone : 603-654 8906 / 8909 atau 603-651 5542
Facsimile : 603-651 5181 atau 603-653 3472
E-mail :
[email protected]atau
[email protected]The YCC was set up to monitor the effect of the rollover period in the capital market. The YCC will also be the centre for coordination of communications for Y2K issues for the capital market during the rollover period. As such, the YCC will be the receiving point for all capital market-related enquiries on Y2K.
The YCC will be in operation from 30 December 1999 - 4 January 2000. Its operating hours is as follows:
30 December 1999
12:00 noon - 5:00 pm
31 December 1999 - 3 January 2000
24 hours beginning at 8:00 am on 31 December
4 January 2000
8:00 am - 5:00 pm
The SC's preparations to face the ramifications of the Y2K issue had begun since 1997. The capital market institutions and intermediaries have successfully completed remediation and rigorous internal testing, end-to-end industry testing and contingency plans are in place to face any unforeseen ramifications of the Y2K issue. In this regard, the SC would like to assure the public and investors that the capital market is Y2K-ready.
