From Ashton's homepage.
Developed by UTTC?, the fully automated, pre-market opening eVWAP? trading
system permits you to buy, sell, or short-sell (tick test exempt) stocks at that day's true
volume weighted average price (vwap). The eVWAP? trading system is an electronic
securities pricintg and transaction facility of the Philadelphia Stock Exchange (PHLX)
for anonymously trading large blocks (5000+ shares) or securities.
The Company believes that its eVWAP? trading system provides a superior method
for investors to trade at a price that guarantees both buyer and seller mutual price
satisfaction and eliminates potential market impact. The Company believes that its
system will perfect the mechanism of a free and open market and a natural market
system as it provides a unique opportunity to electronically submit block-sized orders
for automatic matching before the regular market opening.
Absolute trade confidentiality, zero market impact and matching efficiency are among
the many characteristics that make eVWAP? unique. Approved by the Securities and
Exchange Commission (SEC), our fully automated eVWAP? trading system protects
the participant's identity, orders, transactions, residuals (if any), all the way through T +
3 trade settlement. No other trading system provides this degree of electronic
end-to-end anonymity.
The eVWAP? trading system provides:
A new channel of liquidity
A precise pricing standard
End-to-end anonymity
Zero market impact
Reduced commission costs
Straight-through processing
Confirmation of positions before market
opening
For further information, visit the eVWAP? website on eVWAP.com (proposed
launch - October 15, 1999) |
