According to IDC, this can also be attributed to the wide impact of the euro. The report states that the lion's share of the costs, which organisations incur as a result of the introduction of the euro, will be spent on reorienting their own marketing strategy. These are heydays for service-providers working in the field of management consulting and information technology, as the millennium problem itself produces extra work. In contrast to the problems surrounding the year 2000, which are mainly concerned with safeguarding the existing situation, the euro, in combination with the right information architecture, can provide a considerable competitive advantage. The financial market is, after all, always looking for places where business transactions can be carried out at the lowest possible prices.
Information technology is the determining factor here.
The Paris stock market began preparing for the arrival of the euro in the Spring of 1996. According to Andrea Arambase, euro spokeswoman for the Bourse de Paris, changes to the technical infrastructure will not be that radical. Sicovam SA operates France's securities clearing and settlements systems, including the Paris stock exchange, and is also France's central securities depository. Looking back, we can conclude that the conversion went well. Paris is the only stock market in Europe to have carried out three extensive tests.