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

To: Zeev Hed who wrote (553)	5/3/1999 11:17:00 PM
From: EyeDrMike	Respond to of 4443

yes, a 5 year deal with PHLX, not one year pilot. Mike

To: Zeev Hed who wrote (553)	5/3/1999 11:19:00 PM
From: EyeDrMike	Respond to of 4443

The full family of VWAP® based products will include: Opening hour VWAP®, Closing hour VWAP®, "Witching Hour" VWAP® (pricing on option related securities, e.g., a three-day pre "witching hour" VWAP®), VWAP® Indices, and VWAP® as a security. The VTS™ product module will be followed by other products such as an Electronic Auction System (eAS™), an Electronic Public Limit Order Book (ePLOB™), and an Electronic Options Trading System (eOX™). Management believes that trades related to institutional securities transactions account for approximately half of all securities traded in the U.S. domestic market and that computerized pricing and execution systems have become an increasingly important form of trading for institutional investors. The Company anticipates that this trend will result in a high demand for the UTS™ system. UTTC™ is a party to a five year contract with the PHLX which defines a business relationship that includes the PHLX's employment of the VTS™ system on the exchange floor as a new trading product of the PHLX. ATG™ has granted eMC™ a perpetual and exclusive license to deploy and operate the technology underlying the eMC™ network. eMC™ has been designed to provided interactive market access for financial intermediaries and their clients and is further expected to become a global electronic distribution channel for a broad range of financial products and services. eMC™ is in the initial stages of development and is expected to be available in late 1999. ATG International™ was formed to capitalize on international opportunities created by the dynamic environment of an increasing global economy. ATG International™. and ATG™ will customize transaction system technology for deployment on international stock exchanges. Current international initiatives are focused in Hong Kong/China, Canada, and Europe. Further, ATG International™ will assist in globalization of eMC™'s distribution network.