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

To: EyeDrMike who wrote (304)	4/24/1999 3:11:00 PM
From: LTK007	Read Replies (1) \| Respond to of 4443

Mike here is item on Ashton etc, from 4/20/99 Philadelphia Inquirer,only negative in article is reference to Ashton in past of having bent their deadlines(but wasn't that due approval problems with SEC/ Can we nail down that July date?) Also Mike could you identify where your got your super DD article? << TOMORROW IS D-Day for the Securities and Exchange Commission's Alternative Trading Systems Rule, SEC Chairman Arthur Levitt's way of urging a hundred online stock exchanges to bloom. The rule allows a generation of new, for-profit exchanges to grow up alongside the centuries-old, self-governing, member-owned stock markets in New York, Chicago, Philadelphia and other cities. The threat of increased online market-making has already helped spark a wave of price cuts and a cacophony of merger talks in the traditional stock-and-options trading business. And it has encouraged local boosters of Philadelphia's much-touted Ashton Technology Group, who are preparing for the stock's latest run at the big time. After languishing for the past couple of years, Ashton shares have tripled to more than $7 per share since the SEC and the Philadelphia Stock Exchange announced last month that Ashton's long-awaited computerized block-trading system had been cleared for action. The Ashton system is designed to smooth the big jumps that big institutional trades usually create in small-company stocks. If it works better than rivals such as OptiMark, Ashton's system could help boost trading at the PhilEx, according to exchange chairman Meyer Frucher and other Ashton believers. Ashton hopes to operate the system via PhilEx. But it has also created a new-style, for-profit electronic market of its own to develop a proprietary stock- and option-trading market for brokers and institutional trading desks. Called NextExchange, the new market is scheduled to become operational in July, though Ashton has a history of bending its deadlines. If all goes as planned, by midsummer Philadelphia could be home to both the nation's oldest and its newest stock markets. Joseph N. DiStefano can be reached at 215-854-5957 or distefj(at)phillynews.com >>