CHARLOTTE, N.C. - Bank of America Corp. and J.P. Morgan Chase & Co. have allied themselves with FinancialOxygen to offer their capital markets products on its electronic marketplace.
The companies have also invested $5 million each in FinancialOxygen's second round of financing.
The banking companies plan to use FinancialOxygen's software to offer wholesale products such as federal funds; repurchase agreements; and money market, fixed income, and mutual funds through an online trading hub called BankOxygen, where the products will be available to 21,000 independent banks, thrifts, and credit unions nationwide.
