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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: AJ Berger who wrote (2220)	7/29/1999 1:00:00 PM
From: AJ Berger	Respond to of 4443

Does this in(de)crease NITE chance of investing in ASTN? Knight Trimark takes stake in Easdaq By Gareth Vaughan, CBS MarketWatch Last Update: 10:51 AM ET Jul 29, 1999 London Calling BRUSSELS (CBS.MW) -- Knight Trimark Group Inc.said Thursday that it's paid $8.2 million for an 18.92 percent stake in the Brussels-based Easdaq stock exchange. This makes Knight Trimark the biggest shareholder in the Brussels-based bourse for growth and technology companies. In a statement, Easdaq also said Morgan Stanley Dean Witter (MWD: news, msgs) has taken a 2.44 percent stake and Goldman Sachs (GS: news, msgs) has picked-up 1.22 percent. "The added support of such heavyweight international investment banks and market makers provides concrete evidence of growing support for Easdaq's new dual trading strategy in advance of its launch later this year," Easdaq said. The bourse said the new shareholder structure was established through its latest private placement on 28 July. Easdaq said it was strongly over-subscribed, raising a total of $24.3 million (22.8 million euros), well above the target of $12.8 million (12 million euros). Knight Trimark's (NITE: news, msgs) CEO, Kenneth Pasternak, will also become a member of Easdaq's board of directors. "Easdaq is an example of an electronic platform that we believe will exemplify future market structure. It has exchange status and importantly, has a pan-European operating capability," Pasternak said in a statement. Knight Trimark is the parent company of Knight Securities and Trimark Securities. Knight Securities makes markets in over 7,100 equity securities listed on the Nasdaq and the OTC Bulletin Board. Trimark Securities trades New York Stock Exchange and AMEX-listed equity securities over the counter. U.K. group also takes a piece of Easdaq London-based Tradepoint, an electronic stock exchange for trading in U.K.-listed shares, has also picked-up a stake in Easdaq. Tradepoint has taken a 2.43 percent stake which makes it the second stock market, after Nasdaq, to take a piece of Easdaq. The percentage of Nasdaq's stake hasn't been disclosed but an Easdaq spokesman said it's well under 10 percent. Easdaq's other major shareholders are ING Group of the Netherlands which holds 7.92 percent and Equitable Life Assurance Society of the U.K. which has 7.23 percent. Easdaq also announced the appointment of Steffen Schubert as its new chief executive officer. Schubert replaces Stanislas Yussukovich who's held the position on an interim basis since May 1, 1999. Schubert was previously the managing director of Bayerische Boerse in Munich. His appointment is effective from Sept. 1, 1999. Easdaq's busy week This has been a busy week for Easdaq. On Wednesday it disclosed that it had become the first stock market to receive permission from the U.S. Securities and Exchange Commission to launch initial public offerings for non-SEC registered U.S. companies. See full story. Gareth Vaughan is a reporter for CBS MarketWatch in London.