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

To: mst2000 who wrote (3761)	4/19/2001 10:11:48 AM
From: LPS5	Read Replies (1) \| Respond to of 4443

...probably just want to see if any of the Yahoos want to take up the gauntlet again and try to engage you in a heated argument, huh? Try is the operant word. :) You got time for that kind of sport? Well, I've got lots of free time until Monday, when I start a new position, but but many of the arguments I've been engaged with didn't have enough credibility to give me the intellectual challenge ("sport") I've faced on other threads. Besides...my free time is largely spent away from SI, enjoying the city that I rediscover everyday, playing golf, going to the gym, reading, etc. Any news about Liquidnet's volumes since their Day #1 results? I haven't heard a peep. But, I didn't really expect them to release volume info every day, personally: I figured a first day "we're here and here's how we did," and then maybe a one month or quarterly report when such time period comes to pass. I have always been of the view that there is more than enough institutional trading volume to support the regular market and a variety of ATS systems profitably I agree. There's a lot of institutional business out there. As I've said several times, human traders are entrenched in the buyside-sellside culture, but there are definitely places in which both buy- and sellside entities can benefit from electronic accoutrements. Good institutional ATS' should seek to meet requirements that, first and foremost address various needs and fears of portfolio managers; second, for business viability, that meet those needs and fears that can't easily - via cost, speed, or other functionality - be replicated by block/principal/agency desks. In MBA terms, the prospect offered by an alternative trading system - particularly where institutions are concerned - must be one which forces the "buy" hand in the classic "buy vs. build" decision: impossible to copy, imperative to utilize. If it doesn't meet needs (real needs, as expressed by the institutions, and not ATS-defined needs) and can be copied easily, either via pricing, functionality, or speed - it's in danger from day one. "list players" Yeah, that makes sense. POSIT has a lot of those firms/funds as a result of offering their VWAP SmartServer and the QuantEX system, so, it makes sense that eVWAP might appeal to some of them as well. Anyway . . . . . take care! You too - LP.

To: mst2000 who wrote (3761)	4/30/2001 9:20:48 AM
From: Snowman	Respond to of 4443

Nice ASTN news today! (COMTEX) B: The Ashton Technology Group Announces Regulatory Approval B: The Ashton Technology Group Announces Regulatory Approval of S&P 500 Listed Issues for eVWAP PHILADELPHIA, Apr 30, 2001 (BUSINESS WIRE) -- The Ashton Technology Group, Inc. (NASDAQ:ASTN) announced today that the Philadelphia Stock Exchange (PHLX) has received immediate effectiveness of a rule filing with the Securities and Exchange Commission, which, among other things, expands the number of securities eligible to match in the eVWAP(TM) Trading System, to any exchange traded component issue of the Standard & Poor's (S&P) 500 Index, and any listed issue designated by S&P for inclusion in the Index. Ashton's eVWAP is an anonymous, pre-opening matching system to execute orders at an SEC approved standardized volume weighted average price (eVWAP Price(TM)). Participants receive confidential, binding match reports before the market opening with the eVWAP Price automatically ascribed to such trades following the market close. Key users of the System, which is operated by Ashton as a facility of the PHLX, are brokers, index traders, plan sponsors, money managers, and other institutional investors. Fredric Rittereiser, Ashton Chairman and Chief Executive Officer, said, "We are very pleased to receive the opportunity to consider the entire list of S&P 500 Index exchange traded issues as eligible for eVWAP matching." "eVWAP's ability also to trade all listed issues being added to the Index is particularly important to index participants engaged in portfolio rebalancings. Inclusion of S&P 500 Nasdaq components and other active Nasdaq issues in eVWAP coincides with the PHLX's reinstatement of its over-the-counter unlisted trading privileges program, which should occur early this summer," Mr. Rittereiser added. Ashton is an eCommerce company that develops and operates electronic trading and intelligent matching systems for the global financial securities industry. Our focus is to develop and operate alternative trading systems, serving the needs of exchanges, institutional investors and broker-dealers in the U.S. and internationally. Our goal is to enable these market participants to trade in an electronic global trading environment that provides large order size, absolute anonymity, no market impact and lower transaction fees. The forgoing press release contains forward-looking statements based on current management expectations. A variety of important factors could cause results to differ materially from such statements. Factors that could cause actual results to differ from current expectations include unexpected regulatory filing issues, industry trends, and competition. These and other risks are described in greater detail in Ashton's filings with the Securities and Exchange Commission. Websites: www.ashtontechgroup.com and www.evwap.com. CONTACT: The Ashton Technology Group Investor Relations and Media: Christine Geisser, 215/789-3300 Telefax: 215/789-3397