In fact, the reason the Children of Israel merited to be delivered from Egypt was to receive the Torah at Mt. Sinai. At that time they would truly shake off the yoke of slavery and replace it with one of Torah thus becoming a truly free nation. On Shabu'oth we celebrate the receiving of the Torah. In addition, it is also the Festival of the Reaping of the wheat and of the Gift-Offering. No other studies should be substituted by Sephardeem and no Mishnah should be read on this night.
Some Ashkenazi congregations have the custom to have lectures or other forms of study.
Appropriately, the Torah reading on the first day includes the portion of the Ten Commandments. Sepharadi have the same custom and remain seated for all Torah readings, including the Ten Commandments. The Ashkenazi custom is to stand for this portion. Dairy foods are an essential part of the meal during the day on Shabu'oth. Many varieties are eaten by Sepharadim, including rice cooked with milk and cucumbers in Yogurt.