And in some cases, compliant means that the code has been fixed but not completely tested. Don said the third major problem is logistics. It takes a lot of time just getting the date fields and fixing them, running and testing, then fixing and running it again and so on. This is, of course, more difficult the more time sensitive the business is. There are five steps to aging data but many people only use two.
Brokerages are very time sensitive businesses.
They do a lot of these calculations and have some of the most difficult programs to fix. Don related that he gave a one hour presentation to one brokerage about the level of testing they needed to be doing to assure a containable level of defects. This was supposed to be followed with a two-day seminar that would teach them what the tests were and how to do them. After the presentation they said they would call to schedule the training session. He didn't hear from them for a couple months and finally called and asked what their plans were.