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Non-Tech : Ashton Technology (ASTN)
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To: mmmary who wrote (4372)1/16/2002 5:57:24 PM
From: mst2000  Read Replies (1) of 4443
 
Saying that Kingsway's stated intention to deploy eVWAP in Asia is "pumping ASTN stock" is ridiculous. And saying that eVWAP "doesn't work" in the US is also ridiculous. It may take years to generate sufficient usership to make it profitable (that was true of every other system out there, including all of the ECNs, Instinet, POSIT, LiquidNet), but the one thing proven by the volume they achieved in July-September (pre 9/11) and by the fact that they have traded more than 250 Million shares over the system thus far is that they system does work and that there are people interested in using it.

Why has it taken two (2) years so far to get a foreign market (in a city that is now part of Communist China no less) to launch eVWAP? Well, it took almost 3 years from ATG's IPO in May 1996 to March 1999 for ATG to get SEC approval to use eVWAP in the US, and another 6 months after that to launch a test phase of the system. What makes you think that it is any easier or faster to get a foreign stock market to act more quickly than that, and then to put in place all of the infrastructure necessary to actually deploy the system, particularly in China? Do you have any sense at all at how complicated it is to do the things they are trying to do in Hong Kong? Or how significant it was to them in 2000 that Kingsway even agreed to become involved as their partner in Hong Kong? Don't answer -- it's a rhetorical question. And even if you did understand, you would never admit it, because it doesn't fit in your theory that all things ASTN must be evil.

MST
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