London Stock Exchange

Review of the TAURUS Settlement System on behalf of the UK Department of Trade and Industry.

Conducted a detailed risk review of the systems specification of the TAURUS clearing and settlement development and their compliance with regulations to be laid before the UK Parliament. Contributed to the risk-review of the TAURUS development covering both internal and external risk factors. Reviewed the project progress to date and submitted detailed recommendations for improvements necessary to achieve the desired live date. These recommendations were not successfully implemented by the development teams and the project was subsequently halted during 1993, terminating a total spend estimated at GBP200 million throughout the UK securities industry to date.

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