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At Deadline

Traders Magazine, November 2000

John A. Byrne

Tech Mission

Ashton Technology, a trading technology vendor, has recruited Jefferies & Co. to provide strategic help and find investors for two of its subsidiaries, Universal Trading Technologies and Electronic Market Center. Ashton president Arthur Bacci says Jefferies was chosen for its experience with equity trading technology and its ideas for expanding the use of UTTC's VWAP matching system, iMatch.

"[Jefferies] will be able to introduce us to other participants," said the president of the financially struggling vendor. "Also, the [firm] is becoming a bigger player in VWAP trading." Ideal investors, according to Bacci, are broker dealers that want to make markets in VWAP securities or vendors of other trading systems. A joint venture is also a possibility.

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