Launched in 2012 by the Luxembourg Stock Exchange, the project to build a market infrastructure dedicated to cross-border distribution of investment funds now bears the name of Fundsquare.
Fundsquare is a wide-ranging and innovative solution developed by fund industry professionals that aims to meet current and future challenges for the cross-border distribution of investment funds. Fundsquare responds primarily to the growing cost pressures imposed by stronger regulations and a weak economic situation.
The Fundsquare platform intends to position itself at the heart of the fund industry and to provide greater efficiency and automation between the various actors. By centralising data, standardising procedures for order management and reporting of fund data, Fundsquare will enable significant economies of scale while ensuring transparency and simplification of communication flows.
The operational start of the Fundsquare platform is scheduled for the third quarter of 2013.
Fundsquare will roll out, in its initial phase, newly created services for order management, as well as information services that will be provided by Finesti. The combination of these services positions Fundsquare as a central infrastructure for distributors and fund promoters wishing to transmit information effectively.
For the technical realisation of the platform, Fundsquare is based on technology developed by SWIFT, the world´s number one electronic messaging provider, and by Altus.
For its implementation, Fundsquare already has the active support of major players in the fund industry operating in Luxembourg through a focus and user group. This user group is made up of international distributors and transfer agents mainly operating in Luxembourg, Europe´s leading investment fund domicile.
About the Luxembourg Stock Exchange (LuxSE)
The Luxembourg Stock Exchange is the leading exchange for the listing of international securities. It offers a high quality and efficient listing service that meets the needs of international capital markets and their participants.
The long experience of the LuxSE in international securities combined with its established listing procedures attract a very wide range of issuers and financial instruments. Currently, the Luxembourg Stock Exchange has around 42,000 quotation lines, including some 28,000 related to bonds. These come from 3,000 issuers in 100 countries.
The Luxembourg Stock Exchange operates two markets: an EU regulated market, called the "Bourse de Luxembourg" market, and the Euro MTF, an exchange-regulated market. All securities are tradable on NYSE Euronext´s UTP platform.
The LuxSE also operates a specialist subsidiary, Finesti, (www.finesti.com) which focuses entirely on the collection and dissemination of investment fund information.
For more information: www.bourse.lu
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