European Stars And Stripes (Newspaper) - October 28, 1986, Darmstadt, Hesse                                Page 8 the stars and stripes tuesday october 28,1986 swell Exchange Cero Tihes sir Plchot a Good Soa right and Jeffrey Knight stand by a computer terminal. Big bang fizzles As Market in London becomes High tech London a the much heralded big bang deregulation of the London Stock Exchange began with u whimper monday As computer problems marred the historic change just before the Start of trading. A half hour before the 9 . Start of official Busi Ness computers vital to the new High technology sys tem of quotations went Down. They came Back up briefly and went Down again leaving dealers unable 1o enter prices. The big bang is definitely a whimper to Start with said Jeff preen a senior dealer with brokers l. Mussel and co. A wholly owned subsidiary of the american securities giant Shearson Lehman Brothers International. He spoke As he surveyed the multimillion Dollar equipment Mussel bought to join the big bang. Preen for 17 years a dealer on the floor of the Exchange said the changeover to Telephone and computer screens in my sad s dealing room left him with one overriding feeling  it s a huge change. But Well get used to it and be successful he said. Under the big bang trading is extended beyond the floor of the Stock Exchange on old Broad Street to hundreds of office computer screens carrying instant information about Stock Price movements for brokers and financial institutions to Deal in by Telephone. The old style Market with virtually All business con ducted on the door closed Friday with choruses of Auld Lang syne and Champagne toasts. The Exchange floor will continue As a place to Trade company shares and British government Bonds. The Exchange also is ending restrictive practices that fixed commissions at profitable Levels for the few permitted to be members. Fixed commission rules were scrapped and Many brokers were ready to Cut charges to clients from the previously fixed 1.65 percent commission to 1 percent. American and other foreign securities firms had jumped in for a slice of the action in the booming London financial markets while some Small firms Are expected logo Bottoms up in a suddenly crowded Busi Ness there also were predictions that everything would go wrong because traders would t know How to Han dle their computerized information and that the technology itself would break Down. Staff members at the 185-year-old London Stock Exchange said they did t expect their famous trading Hall to be deserted because the in familiarly of the computers would keep Many brokers doing business there in the old Way with pencils and notebooks. London is the world s largest foreign Exchange Trad ing Center and the Center of the eurobond Market the unregulated Exchange of financial instruments denominated in currency held outside its country of origin. The big bang was estimated to have Cost nearly j3 billion in preparation. It is expected to Speed development of a 24-hour global Market in company stocks As London Wili pick up trading after Tokyo s Stock Market closes each Day. And overlap with new York s opening five hoi re be Hind London. Wholes run aground in Iceland expert suggests Leader was suicidal. _ it in a Pisa. Hirl fan Ltd in Lulf  i titreykjavik., Iceland a a group of 148 Pilot whales that ran aground on a Beach in South West Iceland May have been following a mentally disturbed Leader Bent on suicide a scientist said monday. The whales swam ashore at High tide Early sat urday near the fishing town of Horlak shown and got stuck when the tide receded. All but eight were dead when they were discovered several hours later. The Low tide thwarted a Rescue Effort by local fishermen and the surviving whales were shot be Caute they were in pain officials said. In a television interview Marine biologist Johann Sigurjonsson a specialist on whales speculated the whales might have had faults in the Echo sound hearing system whales use to communicate or had instinctively followed a suicidal Leader. Sigurjonsson said a More Likely theory was that the whales experienced a change in the Earth s magnetic Field which immobilized their navigational system briefly and set them on a wayward course. The carcasses were removed sunday to a Factor Yin Northern Iceland that produces fodder for Mink and Fox farms. The mammals All weighed Between two and three tons. Icelanders traditionally do not eat Pilot whale meat but a group of Faroe islander immigrants hacked slices of meat off the carcasses. World today Poland to Cut production of liquor to curb abuse Warsaw Poland a polish liquor production will be slashed and poppy growing re strict cd under new measures to combat alcohol and drug . The official news Agency said sunday that internal affairs minister Gen. Cieslawa Kiszczak agriculture minister slams Law Zieba and chemical and Light Industry ministered Ward Grzywa recommended action after jointly reviewing alcohol and drug abuse in Poland. The Overall Supply of alcohol from stale run distilleries supervised by the Light Industry ministry is to be 15 percent lower this year than in 1980, Pap said and Steps Are being taken to increase production of drinks with Low alcohol  reason was Given for comparing the production figures to 1980, but liquor production was Down from Normal Levels in the years 1981 to 1983 due to Vodka rationing and a shortage of  acreage allotted for poppy production will be Cut 20 percent to 10,370 acres with further cuts Over the nest five years Pap said. Vietnam sends warning against rebel activities Bangkok Thailand a a senior Viet namese communist party official said authorities must severely punish Catholic priests who try toe Lisl the faithful in counterrevolutionary activities Vietnam s official news Agency re ported  Van Linh a member of the party Central committee also urged vigilance against the Hoa ethnic chinese who have dominate the Economy of Southern Vietnam. Vietnam has regarded the Hoa As a potential fifth column for China Hanoi s enemy and expelled thou Sands of them since the country s civil War ended in 1975. Nigerian Federal workers ordered to relocate Lagos Nigeria a about 4,000 Federal government workers have been ordered to move to the new capita of Abuja by nov. I or face dismissal the mail newspaper reported sunday. The Independent newspaper reported hat four ministries Trade internal affairs finance and Industry Are scheduled to move to Abuja located about 275 Miles Northeast of the present capital of Lagos. The movement Date to Abuja already has been delayed several limes. Most government workers complaining of a Lack of schooling housing and medical facilities have Decunea to move. The government has spent about $2 billion so far on the new capital. Some government workers who have moved have been forced to Send their children to schools in neighbouring states the newspaper said. 2 British airways planes nearly collided paper says London a a British airways jetliner i a a tit ninth in of Tom a Nan to times reported. The weekly said that the Boeing 737 from Munich and a a 1-11 from Edinburgh Scot land with 30 passengers came within 50 feet of smashing into each other at a combined Speed of nearly 600 Mph. The weekly said a crash was avoided when the Boeing Pilot saw the other plane and look Eva Sive  planes had been flying at 7,000 feet and landed safely at London Heathrow Airport the report  sunday tires said that an air traffic con troller bad finn then shout the Munich sight an ordered the Edinburgh flight to the tame Point for its turn toward Landing approach Taid thai the controller was removed from a Paw after the incident