Ashton Technology's Electronic Market Center Enters Agreement With TeamVest.Business Editors/Hi-Tech Writers Philadelphia--(BUSINESS WIRE)--Oct. 2, 2000 The Ashton Technology Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASTN ASTN Automatic Switched Transport Network (optical networks) ASTN Automatically Switched Transport Network (ITU-T) ASTN Automotive Satellite Television Network ASTN Astern ASTN Astronomic ) announced today that its Electronic Market Center, Inc. (eMC) affiliate has executed an agreement with online investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and TeamVest, Inc. Under the agreement, eMC will access, distribute and rebrand rebrand Verb to change or update the image of (an organization or product) TeamVest's electronic investment advice and Internet-based 401(k)/investment advice programs. eMC also has taken a minority ownership stake in TeamVest. To help businesses and consumers execute better-informed transactions, eMC plans to develop, operate and market a global electronic distribution channel offering a full range of financial products and services. eMC will be designed for interactive Internet market access by clients of member users. eMC plans to offer its technology, distribution and communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. to leading financial intermediaries Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. . Through eMC, these financial intermediaries will be able to provide on-line financial products to their clients and to clients of other member users. TeamVest (www.teamvest.com) is based in Charlotte, NC. TeamVest's Advisory Service is made available through Quicken.com (NASDAQ:INTU INTU Intuit, Inc. (stock abbreviation, AMEX) ). TeamVest provides a personalized 401(k) solution that revolutionizes the way people set their goals, choose their retirement game plan, and execute their investment strategy. TeamVest is also well known in the 401(k) industry for its defined contribution solution - Team 401(k) - a service it provides to plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. , their employers, and other defined contribution service providers. TeamVest offers 401(k) plan providers a range of services, from full turnkey programs to customized 401(k) plans that include personalized education, advice, and daily recordkeeping. Ashton Technology is an eCommerce company developing a network of affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. . Ashton companies build and market technology-based products and services enabling businesses and consumers to execute better-informed transactions within global electronic marketplaces. Ashton creates electronic transaction and distribution systems for the global financial services industry utilizing advanced telecommunication, computing, data and information security, and Internet technologies. 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 the Company's ability to develop markets for eMC's products; the agreement will meet management's expectations; securities and banking regulatory issues that may arise; difficulties in deploying eMC's technology; and the emergence of other competitors. These and other risks are described in greater detail in the Company's filings with the Securities and Exchange Commission including those on forms 10-K and 10-Q. |
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