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

To: Zeev Hed who wrote (557)	5/3/1999 11:14:00 PM
From: AJ Berger	Read Replies (1) \| Respond to of 4443

NYSE uses Human Stock Specialists in each Stock to match most trades. Posit and other automated systems handle about 2% of total volume, also many larger brokerages who keep trades in major stocks internally may have their own proprietary systems for matching trades within their firms. Most Large Block trades that need to be buried in the markets are simply subcontracted out to dozens of smaller brokers in hopes of masking its origin. ASTN system hopes to address these needs and more.

To: Zeev Hed who wrote (557)	5/3/1999 11:21:00 PM
From: Rob W	Respond to of 4443

Philly's Last Shot? By Erin Arvedlund Staff Reporter 5/1/99 12:20 AM ET As an alternative to the Options Forum this week, here is a report from the Options Industry Council conference in California. CARLSBAD, CALIF. -- The man now most responsible for the fate of the Philadelphia Stock Exchange may be Richard Grasso, the head of the New York Stock Exchange. Of all the strange twists the Philly's course has taken -- a management scandal, an aggressive takeover bid by the Chicago Board Options Exchange and, last week, the end of its long Nasdaq-Amex merger talks -- the strangest may be the recent emergence of the Big Board as a rumored suitor. While a Big Board-Philadelphia deal is laughed off by many in the industry, Philly sources say top officials of the two exchanges have been in discussions for the last week. There are even whispers that an announcement could come as soon as next week, those sources say. A NYSE spokesman declined to comment Thursday. There are many nonbelievers. "What's happening is rumors flying around, particularly after [PHLX head Meyer "Sandy"] Frucher distanced himself from the Amex," says Francis Recchuiti, an attorney who represents PHLX member Joseph D. Carapico. Carapico is a dissident member of the Philadelphia who sued to stop the merger with Nasdaq-Amex. But the implausible deal -- it's implausible mostly because the Big Board sold its options unit to the CBOE in 1995 -- also is being seen as a last-ditch attempt by the Philadelphia Stock Exchange to partner up. The exchange has a small stock-trading business, and its options business is the smallest among the four competing exchanges. On top of that, its premier options listing, Dell (DELL:Nasdaq), will likely be traded on the other exchanges before the end of 1999. "We've cleaned up the house in terms of technology and governance. Stay tuned," says Frucher, who was spending the latter part of the week at the Options Industry Council conference here. "It's a great feeling to get off the mat."