By Tony Hallett, 14 October 1998 00:20
NEWS The Australian Stock Exchange (ASX) is hoping to drum up extra business from Asian companies by emphasising its Year 2000 preparedness. It hopes fears over Asian stock exchanges' lack of compliance will drive companies to seek quotation on the Australian exchange - which prides itself on its Y2K project. A spokeswoman for ASX confirmed the exchange's managing director and chief executive Richard Humphry, speaking at a Securities Institute function, said companies in Asia will be helped if they come to the ASX with problems regarding their home exchanges and the millennium bug. ASX's Y2K compliance project was primarily driven by considerable pressure from the Australian government. Now, the Sydney-based exchange is confident its IT systems will see off the date change without any hitches. Companies listed on the exchange have also been forced to make disclosures about their own Y2K plans.
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