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Non-Tech : Ashton Technology (ASTN)
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To: Libbyt who wrote (3546)8/1/2000 4:44:41 PM
From: Libbyt  Read Replies (1) of 4443
 
The Philadelphia Inquirer...8/1/00

Ashton Technology is mentioned in this article in today's Philadelphia Inquirer.

The title of the article is "Sycamore Group solves cash-flow problem" By Joseph N. DiStefano, but at the end of the article ASTN is mentioned.

" .... The Philadelphia Stock Exchange's options floor has lately been gaining business from its rivals, but its stock-trading
business has continued to lose market share as it has for a decade, trading well under 1 percent of U.S. stocks over the
past year.

Is that about to change?

The owners of a major stock-trading firm with operations in several markets said privately last week that they are
preparing to shift people back to Philadelphia because of low seat costs here, plus dissatisfaction over delays in the
network the Pacific Stock Exchange is developing with the Archipelago online-trading system.

And Ashton Technology Group, which has disappointed investors for five years with its constant announcements of
new trading systems that have not yet led to new business, has finally purchased a PhilEx seat, arranged for trade
clearing through ABN Amro Sage, and announced it will be ready to begin trading in 100 stocks through its
volume-weighted average pricing system as of Aug. 6.

Extreme optimists are even predicting revival of the exchange's moribund Philadelphia Board of Trade on hopes that
Congress is about to pass a proposal authorizing stock-futures trading on commodities markets.

Back in the real world of the exchange's Market Street headquarters, PhilEx chairman Meyer "Sandy" Frucher is
negotiating what may be the real key to the market's survival: a plan to link the five major options markets
electronically, which was endorsed by the Securities and Exchange Commission despite PhilEx objections last week."

web.philly.com
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