View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
June 27, 1997updated 05 Sep 2016 1:10pm

TURKISH LIRA POSES PROBLEM FOR MORGAN STANLEY COMPUTERS

By CBR Staff Writer

It seems that there’s a major headache on the horizon for the computing staff at US Investment Bank Morgan Stanley, and it’s all been caused by the number of Turkish Lira you can currently buy with a single US dollar. Morgan Stanley are handling an Initial Public Offering on behalf of Turkish Conglomerate Sabanci Holdings which will float stock valued at around $210m. This translates into around 30,731,400,000,000 Turkish Lira which Morgan Stanley somehow has to squeeze into its groaning computer system. The figure is so unusually enormous that it will have to be split in half, causing all sorts of attendant problems with keeping track of business. Combine this with an extra 40,000 transactions from the re-shuffle in the Russell 2000 (the index tracking the bottom two-thirds of the 3,000 largest US stocks) at the end of June, and as one member of staff in the computing department put it, Next week’s a very good time to be on holiday.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU