Company Structure and History

Company structure and history


At the initiative of the Luxembourg Stock Exchange, a consortium of major players of the fund industry was created in 2010 to analyse the creation of a market utility that would help fund actors mutualise costs and achieve greater efficiency in the fund distribution space. The ‘Fund Market Infrastructure’ project was launched.

The consortium quickly evolved into a Super User Group with the objective of substantially supporting, facilitating and standardising the cross-border distribution of funds.

At this stage and in order to bring the FMI project to fruition, the Luxembourg Stock Exchange decided to finance the entirety of the initiative and to create a dedicated legal structure. In parallel and to create the infrastructure the Luxembourg Stock Exchange decided to integrate Finesti, its wholly owned subsidiary, into the initiative as an opportunity to leverage its technical infrastructure, fund database, as well as its expertise in fund registration, regulatory reporting, data and document management.

Initially, the legal structure is to serve the market as a subsidiary of the Luxembourg Stock Exchange, but is to become a user-owned and user-governed market utility in the future.

Fundsquare was constituted on 7 June 2013 in Luxembourg and started its activity on 1 July 2013.

Company Structure

Fundsquare is a wholly-owned subsidiary of the Luxembourg Stock Exchange and is the combination of Finesti services with newly-created order management services.

Board of directors 
  • Chairman: Robert Scharfe, CEO, Luxembourg Stock Exchange
  • Benoit Elvinger, Head of Markets, Banque de Luxembourg


Executive committee
  • Maxime Aerts, Managing Director and Chief Operating Officer
  • Jeffrey Nadal, Managing Director & Chief Commercial Officer
  • Julien Renkin, Director, Product management & Client solutions

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