Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

Traders Poll

What is your favorite movie about trading?

Wall Street

23%

The Big Short

13%

Margin Call

6%

Equity

0%

Trading Places

38%

The Wolf of Wall Street

8%

Boiler Room

7%

Arbitrage

0%

Too Big to Fail

5%

Free Site Registration

February 1, 1998

NASD Reg Wants Year 2000 Compliance

By Staff Reports

NASD Regulation has come down firmly on member firms on Year 2000 compliance. The regulatory subsidiary of the National Association of Securities Dealers has demanded that members report on their progress in making their computer systems compliant.

Mary Shapiro, president of NASD Regulation, said in a prepared statement that it is essential that broker dealers' computer systems continue to operate successfully after Dec. 31, 1999.

"It is imperative that firms aggressively take on the Year 2000 challenge, and that the automated systems they rely on to meet their regulatory, market-participant and investor-protection obligations be Year 2000-compliant," she said.

NASD Regulation's request was announced in a so-called NASD Special Notice to Members. The notice stated that it is the responsibility of members to analyze the readiness of their own automated systems.