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

To: Rob W who wrote (3118)	1/3/2000 1:47:00 PM
From: Moosie	Read Replies (2) \| Respond to of 4443

(BSNS WIRE) Ashton Technology Group, Inc. Announces Nasdaq National Mark Ashton Technology Group, Inc. Announces Nasdaq National Market System Listing; Enters into Clearing Arrangements With 8 National Brokerage Firms Business Editors PHILADELPHIA--(BUSINESS WIRE)--Jan. 3, 2000--The Ashton Technology Group, Inc. (NASDAQ Small Cap: ASTN) announced today that its has received approval for listing of its common stock on the NASDAQ's National Market System (NMS), effective January 5, 2000. Arthur Bacci, Ashton's President and Chief Financial Officer, stated, "The NMS listing should provide our shareholders with significant benefits such as enhanced institution exposure and stock analyst coverage. The NMS approval further demonstrates management's commitment to increase the value of our shareholders' investment." Ashton also announced that eight firms have agreed to clear and settle trades by institutions, pension funds, and money managers utilizing Ashton's Electronic Volume Weighted Average Price (eVWAP(TM)) trading system directly or through Croix Securities, a broker-dealer subsidiary of Ashton. These arrangements will allow eVWAP(TM) users to anonymously execute, clear and settle securities traded through the eVWAP(TM) trading system with enhanced confidentiality of customer information throughout the entire clearing and settlement process. Fredric Rittereiser, Ashton Chairman and Chief Executive Officer, said, "This phase of the eVWAP(TM) rollout, involving the integration of third party clearing firms and the electronic integration of customers through their clearing agents, was a prerequisite for an effective electronic straight through processing system. Upon completing the clearing firm integration, we can provide the connectivity to the larger institutions and brokers-dealers, who aggregate orders from multiple locations, to build the system's volume growth and liquidity." Ashton Technology Group, based in Philadelphia, is developing a family of on-line electronic transaction and intelligent matching systems, using advanced telecommunication and computing technologies, together with data and information security technologies, to facilitate global financial transactions. Ashton's proprietary transaction systems are made available to end users through networks, third parties, and the Internet. Ashton concentrates on the concept of developing alternative trading systems as unique adjuncts to established exchanges. Its U.S. eVWAP(TM) trading system was launched as a facility of the Philadelphia Stock Exchange in August. Ashton recently announced joint ventures to introduce eVWAP(TM) in Canada, Hong Kong, and other Asia-Pacific markets. The foregoing press release contains forward-looking statements based on current management expectations. Factors which could cause actual results to differ from current expectations include the impact of the NMS listing on Ashton's shareholder value, the company's ability to expand customer usage of the eVWAP(TM) system, dependence on arrangements with self-regulatory organizations, and difficulties in deploying the Company's proprietary electronic transaction systems in the U.S. and abroad. For a discussion of other factors, which may cause actual results to differ from current expectations, see Ashton's reports filed with the United States Securities and Exchange Commission. --30--KMK/ph* CONTACT: Ashton Technology Group, Inc., Philadelphia Christine A. Geisser, Dir. of Corporate Relations 215/751-1900 Telefax: 215-636-3560 Website: www.ashtontechgroup.com or Siegel & Gale Fraser P. Seitel, Press Contact, 201/784-8880 Telefax: 201/784-1446 KEYWORD: PENNSYLVANIA INDUSTRY KEYWORD: MARKETING AGREEMENTS COMPUTERS/ELECTRONICS TELECOMMUNICATIONS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com