Wells goes live on PrivateOxygen trading platform

Wells goes live on PrivateOxygen trading platform

Wells Fargo is the first bank to go live on the PrivateOxygen trading platform, offering online access to short term fixed income products for middle market corporate customers.

PrivateOxygen is the private label version of FinancialOxygen's online trading marketplace, BankOxygen, which currently transacts more than $1 billion a day by connecting leading providers of wholesale investment products with independent financial institutions.

Wells Fargo has rolled out PrivateOxygen to online middle market corporate customers who trade fixed-income products to manage their overnight and short-term cash balances.

"FinancialOxygen's capital markets trading platform significantly enhances the delivery of wholesale investment products to our franchise corporate customers," says executive vice president Si Matthies, Wells Fargo brokerage services.

Wells Fargo's customers will be able to use the platform to conduct daily transactions with or without a live sales person and will also have improved audit and reporting capabilities, says Matthies. Real-time trading access will eliminate the largely manual process that exists today and will help corporate treasurers and investment managers maximise the return on their cash balances and investment portfolio, he adds.

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