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

To: Zeev Hed who wrote (831)	5/7/1999 8:21:00 PM
From: Rob W	Read Replies (1) \| Respond to of 4443

Hi Zeev, I recall you asked about system access. I really didn't see a need to respond as that was addressed in detail in the SEC document I provided you with, but here is an out of date article that also addresses it. I admit the source of this article some here have characterized as CROOKS, but I don't share that view, and based on the recent WSJ article, I don't believe that publication does either. Turning the computer off for the weekend shortly. Regards ____________________________________________________________________ VWAP Trading System (VTS) Long at the forefront of automated systems, the PHLX is pleased to announce the introduction of yet another product that will enable institutions to trade anonymously at the theoretically fairest price (pendind SEC approval). The PHLX, in conjunction with Universal Trading Technologies Corp., will unveil an entirely new trading system based on volume weighted average price. Known as the Volume Weighted Average Price Trading System (VTS), this unparalleled pricing and transaction facility will allow institutional clients, such as mutual and pension funds, to receive a guaranteed, theoretically fairest price on their stock transactions. VWAP is recognized by the U.S. Bureau of Labor as the fairest execution price, and is used by a variety of rating agencies to evaluate the performance of institutional brokers. The VTS System allows users to enter orders from any location prior to the market opening. Eligible orders will be matched and participating parties will receive their trade confirmation prior to the opening. The final VWAP at which the trades are confirmed done, will be disseminated after the close of the trading day. With flexible execution options, encrypted data transmission, and the reliability and security of trading on the nation's oldest securities exchange, VTS will establish a new standard for institutional equity transactions.