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Millennium bugs: Small- and medium-size securities firms are lagging behind their larger competitors in preparing for year-2000 computer problems, participants at an industry conference were warned Friday. “There’s a significant gap in the efforts by small- and medium-size firms, which represent 50 percent of the (trading) activity,” said Arthur Thomas, a Merrill Lynch & Co. senior vice president and chairman of the Securities Industry Association’s year 2000 committee. Thomas was talking at a meeting on the industry’s adapting its technology from December 1999 to the year 2000.
