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dont worry - you all can STILL trade bunds (more volume than
bonds anyway) or other futures, since nearly ten years at the fully
electronic and FULLY working EUREX (no1. worldwide futures
exchange) :-)))
rgds hans
> August 16, 1999 Number 377
>
>
> To: Project A Managers, Project A Terminal Operators, Master Terminal
> Operators, and Members
>
> Subject: Project A Update
>
>
> The following is a letter from President Donovan to CBOT members
> updating them on the Project A situation.
>
>
> Dear Members:
>
> Following the intermittent MCI WorldCom network outage that shut down
> Project A throughout much of last week, Project A trading resumed as
> scheduled last night at 6:00 p.m. with our full emergency backup plan
> and the MCI WorldCom network. Project A trading terminals worldwide are
> now functioning normally.
>
> Throughout last night, our emergency backup Project A trading plan was
> in place in case the MCI WorldCom network failed again. This backup
> plan was a financial and logistical hardship for some of our members and
> member firms, but it ensured ongoing trading opportunities for Project A
> users affected by the MCI WorldCom outage.
>
> In my phone call to MCI WorldCom CEO Bernard Ebbers this morning, he
> informed me the MCI WorldCom network is 100 percent reliable for Project
> A trading. Over the weekend, MCI WorldCom shut down its data network
> and reverted to a prior version of system software - essentially taking
> its system back to ground zero. This was a drastic measure,
> highlighting the severity of MCI WorldCom's customer service plight.
> However, the positive results of MCI WorldCom's work over the weekend
> demonstrate they appear to have taken an important step toward resolving
> their problem. Therefore, based on MCI WorldCom's assurances and the
> concerns of our member firms relating to the hardships and additional
> costs of the backup trading plan, we are disengaging our backup plan
> today.
>
> The CBOT has been proactive in dealing with the MCI WorldCom network
> problems, beginning with my meeting with top MCI WorldCom executives two
> days before the first outage occurred and subsequent discussions with
> CEO Bernard Ebbers. We remain in constant communications with MCI
> WorldCom to monitor network activity, and special procedures are in
> place to ensure Project A continues to be a major priority for MCI
> WorldCom system engineers.
>
> This MCI WorldCom outage has been frustrating for CBOT members and
> customers around the world, and we appreciate your patience and
> understanding. I will keep you updated on further developments.
>
> Sincerely,
>
>
>
> Thomas R. Donovan
>
>
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