ASTN Announces Regulatory Approval of S&P 500 Listed Issues for eVWAP
(Hi Smokey & Tradin... thought it might be nice to have the most recent news posted here)
Monday April 30, 2001 10:02 AM
Company Press Release
The Ashton Technology Group Announces Regulatory Approval of S&P 500 Listed Issues for eVWAP
PHILADELPHIA--(BUSINESS WIRE)--April 30, 2001--The Ashton Technology Group, Inc. (NASDAQ:ASTN) announced today that the Philadelphia Stock Exchange (PHLX) has received immediate effectiveness of a rule filing with the Securities and Exchange Commission, which, among other things, expands the number of securities eligible to match in the eVWAP(TM) Trading System, to any exchange traded component issue of the Standard & Poor's (S&P) 500 Index, and any listed issue designated by S&P for inclusion in the Index.
Ashton's eVWAP is an anonymous, pre-opening matching system to execute orders at an SEC approved standardized volume weighted average price (eVWAP Price(TM)). Participants receive confidential, binding match reports before the market opening with the eVWAP Price automatically ascribed to such trades following the market close.
Key users of the System, which is operated by Ashton as a facility of the PHLX, are brokers, index traders, plan sponsors, money managers, and other institutional investors.
Fredric Rittereiser, Ashton Chairman and Chief Executive Officer, said, "We are very pleased to receive the opportunity to consider the entire list of S&P 500 Index exchange traded issues as eligible for eVWAP matching."
"eVWAP's ability also to trade all listed issues being added to the Index is particularly important to index participants engaged in portfolio rebalancings. Inclusion of S&P 500 Nasdaq components and other active Nasdaq issues in eVWAP coincides with the PHLX's reinstatement of its over-the-counter unlisted trading privileges program, which should occur early this summer," Mr. Rittereiser added.
Ashton is an eCommerce company that develops and operates electronic trading and intelligent matching systems for the global financial securities industry. Our focus is to develop and operate alternative trading systems, serving the needs of exchanges, institutional investors and broker-dealers in the U.S. and internationally.
Our goal is to enable these market participants to trade in an electronic global trading environment that provides large order size, absolute anonymity, no market impact and lower transaction fees.
The forgoing press release contains forward-looking statements based on current management expectations. A variety of important factors could cause results to differ materially from such statements.
Factors that could cause actual results to differ from current expectations include unexpected regulatory filing issues, industry trends, and competition. These and other risks are described in greater detail in Ashton's filings with the Securities and Exchange Commission.
Websites: www.ashtontechgroup.com and www.evwap.com.
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Contact:
The Ashton Technology Group
Investor Relations and Media:
Christine Geisser, 215/789-3300
Telefax: 215/789-3397
Shareholder email: shquestions@ashtontechgroup.com
Sara 
"I never give them hell. I just tell the truth and they think it's hell." - Harry Truman
