Ashton Technology Group Announces Agreement with Reuters; New Global Alliance Boosts Market Liquidity and Connectivity for eVWAP Clients.Business Editors/Hi-Tech Writers PHILADELPHIA--(BUSINESS WIRE)--Feb. 27, 2001 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 its Croix Securities affiliate is establishing a live global link between Reuters' InterTradeDirect trade order routing system and Ashton's eVWAP(TM) (electronic volume weighted average price) trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. . For Ashton, this integrated order routing link represents a global effort to provide the international markets, more efficient trading solutions by linking worldwide sources of liquidity and providing clients with efficient access to that liquidity through advanced technology. For InterTradeDirect clients, this connection offers a fully FIX (Financial Information Exchange) compliant, direct channel through which they can send buy and sell orders to eVWAP. eVWAP, the first product in Ashton's family of intelligent matching systems, allows pre-opening order matching for large-sized equity orders at a standardized volume weighted average price with absolute end-to-end electronic anonymity and no market impact. Fredric W. Rittereiser, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ashton, stated, "our arrangement with InterTradeDirect allows Ashton to continue its dedication to providing our customers the most efficient means of order handling and execution while at the same time continuing to enhance liquidity." Stephen Hovagimyan, Ashton Vice President, added, "this arrangement will open doors for us in Europe and Asia where VWAP VWAP The volume-weighted average price. execution is extremely popular. A relationship with a global order routing system will, of course, also help further our efforts in the US." Ashton 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 The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry utilizing advanced telecommunication, computing, data and information security, and Internet technologies. The forgoing for·go also fore·go tr.v. for·went , for·gone , for·go·ing, for·goes To abstain from; relinquish: unwilling to forgo dessert. press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 projected volume of orders placed through the InterTradeDirect / eVWAP link, Ashton's ability to achieve expected future levels of revenue, projected costs of technology integration and development, changes in business strategy and development plans, industry trends, and competition. These and other risks are described in greater detail in Ashton's filings with the Securities and Exchange Commission, including those on forms 10-K and 10-Q. The Ashton Technology Group, Inc. 1835 Market Street, Suite 420, Philadelphia, PA 19103, USA. Telephone: 215/789-3300, Telefax: 215/789-3397 Websites: www.ashtontechgroup.com and www.evwap.com. Shareholder email: email: shquestions@ashtontechgroup.com. |
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