The Luxembourg Stock Exchange has branded its project to build a fund market infrastructure as Fundsquare.
Launched in 2012, the project to build a market infrastructure dedicated to cross-border distribution of investment funds.
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Fundsquare is a wide-ranging solution developed by fund industry professionals that aims to respond primarily to the growing cost pressures imposed by stronger regulations and a weak economic situation.
According to the Luxembourg Stock Exchange, the platform will provide greater efficiency and automation between the various actors.It will centralize data and standardize procedures for order management and reporting of fund data.
The operational start of the Fundsquare platform is scheduled for the third quarter of 2013.
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By GlobalData
