Wells Fargo's Partnership With FinancialOxygen Brings New Trading Platform To Middle Market Corporate Customers

FinancialOxygen Makes Routine Capital Markets Transactions Easier, More

Convenient



Apr 10, 2001, 01:00 ET from FinancialOxygen

    SAN FRANCISCO, Calif., April 10 /PRNewswire/ -- FinancialOxygen, the
 leading provider of capital markets technology and trading marketplaces for
 the middle market, announced today that Wells Fargo is now using the company's
 trading platform, PrivateOxygen.  With the partnership, Wells Fargo became the
 first major financial services institution to conduct billions of dollars in
 capital markets transactions with its middle market customers.
     Wells Fargo rolled out PrivateOxygen to online middle market corporate
 customers who trade fixed-income products to manage their overnight and
 short-term cash balances.  PrivateOxygen is the private label version of
 FinancialOxygen's popular online trading marketplace, BankOxygen, which
 currently transacts more than $1 billion a day by connecting leading providers
 of wholesale investment products with the nation's independent financial
 institutions.
     "FinancialOxygen's capital markets trading platform significantly enhances
 the delivery of wholesale investment products to our franchise corporate
 customers," said Executive Vice President Si Matthies, Wells Fargo Brokerage
 Services.  "With PrivateOxygen, Wells Fargo will provide an easier, more
 convenient way for this very important market segment to conduct routine
 transactions, while increasing the productivity of our sales staff.  It's one
 more way we let our customers choose where, when and how they want to do
 business."
     Using PrivateOxygen, Wells Fargo's customers will be able to conduct daily
 transactions with or without a live sales person and will also have improved
 audit and reporting capabilities.  Real-time trading access will eliminate the
 largely manual process that exists today and will help corporate treasurers
 and investment managers maximize the return on their cash balances and
 investment portfolio.
     "Wells Fargo understands the power of providing middle market customers
 with greater capabilities to execute capital markets transactions," said
 FinancialOxygen Chief Executive Officer Robert Oxenburgh.  "PrivateOxygen
 helps large banks improve their overall relationship with their existing
 customers, while lowering costs and enhancing the level of service delivered
 to this very important customer base."
     The partnership is the latest in a series of recent announcements by
 FinancialOxygen.  In February, the company announced a $10 million round of
 funding from Bank of America and J.P. Morgan Chase.  In early March, the
 company also announced a new economic advisory service designed for
 institutional and middle market customers.  The Economic Advisory Service, run
 by former Banc of America economist Dr. Steve Wood, offers timely and
 comprehensive analysis of important U.S. economic indicators and trends,
 Federal Reserve policy decisions, and interest rates.
 
     About Wells Fargo
     Wells Fargo & Company (NYSE:   WFC) is a diversified financial services
 company with $272 billion in assets providing banking, insurance, investments,
 mortgage and consumer finance services through approximately 6,000 stores, its
 Internet site (www.wellsfargo.com) and other distribution channels across
 North America as well as internationally.
 
     About FinancialOxygen
     FinancialOxygen is a world-class provider of capital markets software and
 trading marketplaces connecting the nation's premier providers of wholesale
 investment products with middle market customers.  FinancialOxygen's investors
 include Bank of America, J.P. Morgan Chase and a network of executives in
 banking, technology, and customer relationship management.  For more
 information, contact FinancialOxygen at 925-906-1700 or
 www.financialoxygen.com.  To receive a copy of The Essential Element,
 FinancialOxygen's daily analysis of financial markets activity, please
 register at http://www.bankoxygen.com/register.html .  To receive daily
 commentary on key economic data and trends from FinancialOxygen's Economic
 Advisory Service, please send an e-mail to eas@financialoxygen.com.
 
 

SOURCE FinancialOxygen
    SAN FRANCISCO, Calif., April 10 /PRNewswire/ -- FinancialOxygen, the
 leading provider of capital markets technology and trading marketplaces for
 the middle market, announced today that Wells Fargo is now using the company's
 trading platform, PrivateOxygen.  With the partnership, Wells Fargo became the
 first major financial services institution to conduct billions of dollars in
 capital markets transactions with its middle market customers.
     Wells Fargo rolled out PrivateOxygen to online middle market corporate
 customers who trade fixed-income products to manage their overnight and
 short-term cash balances.  PrivateOxygen is the private label version of
 FinancialOxygen's popular online trading marketplace, BankOxygen, which
 currently transacts more than $1 billion a day by connecting leading providers
 of wholesale investment products with the nation's independent financial
 institutions.
     "FinancialOxygen's capital markets trading platform significantly enhances
 the delivery of wholesale investment products to our franchise corporate
 customers," said Executive Vice President Si Matthies, Wells Fargo Brokerage
 Services.  "With PrivateOxygen, Wells Fargo will provide an easier, more
 convenient way for this very important market segment to conduct routine
 transactions, while increasing the productivity of our sales staff.  It's one
 more way we let our customers choose where, when and how they want to do
 business."
     Using PrivateOxygen, Wells Fargo's customers will be able to conduct daily
 transactions with or without a live sales person and will also have improved
 audit and reporting capabilities.  Real-time trading access will eliminate the
 largely manual process that exists today and will help corporate treasurers
 and investment managers maximize the return on their cash balances and
 investment portfolio.
     "Wells Fargo understands the power of providing middle market customers
 with greater capabilities to execute capital markets transactions," said
 FinancialOxygen Chief Executive Officer Robert Oxenburgh.  "PrivateOxygen
 helps large banks improve their overall relationship with their existing
 customers, while lowering costs and enhancing the level of service delivered
 to this very important customer base."
     The partnership is the latest in a series of recent announcements by
 FinancialOxygen.  In February, the company announced a $10 million round of
 funding from Bank of America and J.P. Morgan Chase.  In early March, the
 company also announced a new economic advisory service designed for
 institutional and middle market customers.  The Economic Advisory Service, run
 by former Banc of America economist Dr. Steve Wood, offers timely and
 comprehensive analysis of important U.S. economic indicators and trends,
 Federal Reserve policy decisions, and interest rates.
 
     About Wells Fargo
     Wells Fargo & Company (NYSE:   WFC) is a diversified financial services
 company with $272 billion in assets providing banking, insurance, investments,
 mortgage and consumer finance services through approximately 6,000 stores, its
 Internet site (www.wellsfargo.com) and other distribution channels across
 North America as well as internationally.
 
     About FinancialOxygen
     FinancialOxygen is a world-class provider of capital markets software and
 trading marketplaces connecting the nation's premier providers of wholesale
 investment products with middle market customers.  FinancialOxygen's investors
 include Bank of America, J.P. Morgan Chase and a network of executives in
 banking, technology, and customer relationship management.  For more
 information, contact FinancialOxygen at 925-906-1700 or
 www.financialoxygen.com.  To receive a copy of The Essential Element,
 FinancialOxygen's daily analysis of financial markets activity, please
 register at http://www.bankoxygen.com/register.html .  To receive daily
 commentary on key economic data and trends from FinancialOxygen's Economic
 Advisory Service, please send an e-mail to eas@financialoxygen.com.
 
 SOURCE  FinancialOxygen