ENCINO, Calif., May 22, 2001 (PRIMEZONE) -- On April 4, 2001, NASD Regulation, Inc. granted the application of FinancialOxygen, Inc. for membership into the National Association of Securities Dealers, Inc., pursuant to NASD Rule 1014. The State of California, Department of Corporation followed suit on May 10, 2001.
The company is a privately held corporation formed in November 1999. The company provides an online bond trading platform, BankOxygen, which is designed to execute transactions involving large financial institutions and middle market banks. Bank of America and JP Morgan Chase hold minority stakes and include such participants as Citibank, Keybank, National City, LaSalle Bank, Dresdner Kleinwort Benson and State Street Corp.
RND Resources, Inc., based in Encino, was engaged as the sole consultant for the approval. The firm helps establish broker dealers, registered investment advisors and hedge funds as well as provides for the regulatory accounting and compliance. The firm's URL is www.secnasd.com.
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CONTACT: RND Resources, Inc., Encino
Dave Banerjee
(818) 382-7720