WRQ Inc.'s Reflection suite of host access software now supports the euro, the company said today, just two days before the new European currency standard becomes effective.
WRQ said that along with adding euro currency symbols to the Reflection 7.0 product line, its internal business accounting systems and practices also support the currency to facilitate business with its European customers.
On Friday, 11 European nations will begin conducting business using the new currency. Although the euro will not become the sole currency until July 1, 2002, stock exchanges will immediately start trading in euros and large companies will begin tracking their finances using the common currency. Industry analysts have estimated the worldwide cost of converting IT systems to the euro at $100 billion.
The euro is of particular importance for companies in securities and currency trading markets. "But it's important for any customer running financial applications," says Chris Bradley, product marketing director for WRQ's host access business unit. And that includes companies in the United States, and elsewhere outside Europe. "It's definitely not just a European issue," he says.
Reflection is a line of host access and terminal emulation products, including versions for IBM mainframes, Digital Equipment Corp. minicomputers, and Unix systems, and software such as the Reflection Signature security product. The first euro-ready versions of its products began shipping in September and the final product, the French/German edition of the Reflection Suite for the Enterprise, began shipping this week.