Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: M. Frank Greiffenstein who wrote (3088)	12/24/1999 9:21:00 AM
From: lostmymoney	Respond to of 4443

Merry Christmas ALL!!!!!! Take Care! Bo

To: M. Frank Greiffenstein who wrote (3088)	12/24/1999 1:46:00 PM
From: mst2000	Read Replies (1) \| Respond to of 4443

M Frank - The systems mentioned in that article do not compete with eVWAP, they compete with the traditional brokers and market makers who trade stocks on a limit order and market order basis. More than anything, the article points up how traditional trading mechanisms are being challenged by innovation. As an ATS with a derivative (VWAP) pricing structure in complete anonymity, eVWAP offers a true alternative to the large block trader, but does not compete head to head with either the newer NASDAQ systems, or the ECNs. As for the which VWAP is fairer, most statisticians believe that the larger the sample, the more homogenous (and thus accurate) the result. Take that together with the fact that the primary market is in many ways the most manipulative (e.g., NYSE specialists are more likely to be manipulative, e.g., frontrunning, in their incestuous circle of cronies, than the sample of "all markets" nationwide) and an argument can certainly be crafted with considerable persuasiveness that a consolidated VWAP from all markets is fairer to the trader. Just my opinion of course. MST