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Non-Tech : Ashton Technology (ASTN)

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To: VincentTH who wrote (2163)7/24/1999 2:55:00 PM
From: Keith A Walker  Read Replies (1) of 4443
 
I would guess that this will be treated very positively for Ashton. The whole point of their keeping a low profile, is to keep their institutional clients happy.

After the Goldman/Merrill Lynch announcement about their partnership to develop an ATS, I was pretty nervous. Then, I thought about it and figured: OK, it will be at least a year before they have a functional system. Then, who, other than GS and MER would use it? Talk about a good competitive intelligence tool. Know what the other guy is trading and when. I doubt they will have much adoption of their system, whereas, ATG is an independent entity and keeping trading information completely confidential.

ITG is a good benchmark for ASTN, and if I ever worry about the future for ASTN, I remind myself that ITG has grown to be a billion dollar market cap company with ~40-60 million shares a day trading through their system.

Regards, Keith
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