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To: IQBAL LATIF who wrote (28449)	8/27/1999 8:28:00 AM
From: advinfo	Respond to of 50167

PhilX's new system aims to triple trading volume NEW YORK, Aug 26 (Reuters) - The Philadelphia Stock Exchange said on Thursday it would launch a new trading system on Friday in a move to resuscitate its stock trading volumes. The new system matches orders before the opening bell but doesn't spit them out until after the close, giving the trades a volume weighted average price (VWAP) over the session. The makers of the system, called ''V-Wap,' have said they aim to triple stock volume at the Philadelphia Stock Exchange. The system's developer, Ashton Technology Group Inc. (Nasdaq:ASTN - news), says the system gives institutional investors the ability to buy and sell large blocks of shares without the sheer weight of their orders moving prices, called ''market impact.' Users can also avoid daily market volatility while maintaining their anonymity. The Philadelphia, the nations's oldest stock exchange, long ago lost its prominence in stock trading. It trades just six million to seven million shares daily, roughly 1 percent of the shares traded on the New York Stock Exchange alone. Philadelphia has instead focused on its growing options business, the fourth-largest in the nation. The system will initially trade up to 20 of the 300 listed securities approved for VWAP trading, the Philadelphia said. The remaining 280 stocks will be phased in slowly, with all 300 stocks expected to be up and running by the first quarter of 2000. The stocks are all NYSE-listed issues. Currently, Nasdaq and regional exchanges can poach NYSE volume by trading Big Board-listed stocks through ''unlisted trading privileges.' Fred Weingard, Ashton chief technology officer, said in May the target was for the system eventually to add 20 million to 30 million shares to daily volume.

To: IQBAL LATIF who wrote (28449)	8/27/1999 11:13:00 AM
From: IQBAL LATIF	Read Replies (3) \| Respond to of 50167

Got out of all my long put positions with the exception of 1310's at 1357 area, got 20$'s .. closed the trade, this trade took some time but the pay off is good after 48hours and it more sweet when I look at my strategies, AT 1382 spu 1360 LOOKED DISTANT but as we failed on BKX SOX and DOT the reason for decline became clear and visible. Took some time but my predictions were right on the target..<<Now 50 days MA is at 1360 so may be they would hit 1357 or 1355 the low made on SPU on that after Fed announcement, however not until 1384 one can take a long view...BKX is at critial support if it takes out 829.9 we go and test 820>> Long view only above DOT 585 and BKX 839 and NDX 2415.. otherwise I will wait if 1354 is decisively out we are heading for that 20 days MA, at htem moment I am enjoying the trade..