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

To: mmmary who wrote (3962)	7/28/2001 4:58:42 PM
From: Rob W	Read Replies (1) \| Respond to of 4443

Provides a nice contrast to Ashton wouldn't you say? Kinda makes me wish I had bought more last week. If you don't believe their products are real, well here is what some entity had to say about them. Hint, the entity is not the commissioner of the South Eastern Conference. <<<The Commission believes the Exchange's proposed System will serve as an innovative complement to the Exchange's existing auction market. The Commission historically has encouraged innovation and the creation of new electronic trading systems so that investors are provided access to a variety of execution alternatives. The Commission also believes that the Exchange's proposal is consistent with Section 11A of the Act.\46\ Specifically, the Commission believes that the System will further the purposes of Section 11A and the development of a national market system by promoting economically efficient execution of securities transactions, fair competition among markets, best execution of customer orders, and an opportunity for orders to be executed without the participation of a dealer. The System provides a new and potentially efficient way to match and execute trading interests. It is principally designed to meet the demands of institutional traders and other market professionals that desire VWAP-based transactions. Use of the System may result in enhanced liquidity for investors and increase the ability of investor orders to interact directly with other investor orders. The Commission believes the System may provide benefits to market participants, especially those who trade in large blocks. Specifically, Participants will enjoy complete end-to-end anonymity in their Orders and Commitments; as a result, their proprietary trading strategies will not be revealed to other market participants. Furthermore, because Participants receive notice of Order and Commitment matches before the NYSE opens for trading, those Participants not receiving matches will have the opportunity to enter orders during regular trading hours. The Commission believes the Exchange's proposal satisfies the standards of the Act that apply to national securities exchanges. The Commission recognizes that investors desire to trade large blocks of securities anonymously and free of the price movements that often accompany such transactions. By operating a facility that allows investors to anonymously effect block-sized trades at the day's volume weighted average price, the Exchange will be able to better accommodate the needs of investors. It is therefore ordered, pursuant to Section 19(b)(2) of the Act,\59\ that the proposed rule change (SR-Phlx-96-14), as amended, is approved for a pilot period ending March 24, 2000.>>>