December 2013 - Word from the CEO

From the CEO

Only half a year old and on track for expansion and efficiency in the fund industry

After nearly six months of operations, I am pleased to say that Fundsquare has built an impressive service offer.

The existing activities of Finesti were successfully transferred to Fundsquare. All Finesti staff were integrated into the new company and we significantly strengthened our business development and client-facing teams with new hires.

In addition, all of the activities of e-file.lu, including those previously run by our parent company, the Luxembourg Stock Exchange, were brought under the Fundsquare flag.

We therefore created a unique infrastructure incorporating fund order routing, fund information and reporting services. One of the aims of this infrastructure is to allow fund industry actors to concentrate on their core business.

Order routing numbers now growing

On the order routing platform, the first transactions took place in September between a fund distributor and a transfer agent.

Since then a number of distributors and transfer agents have been in the testing phase on the platform. In the coming weeks, we expect to add fourteen entities.

Order volumes, and the number of counterparties connected to the platform, will thus increase appreciably.

More European funds

During our first six months, fund information and reporting services continued to grow with various initiatives and new services.

Particularly important was the number of funds from other countries that have chosen to join Fundsquare. At the end of November, there were 7,600 funds in the database and almost fifty per cent of these were non-Luxembourg funds. The proportion of these funds will continue to grow.

On the reporting side, we added new services to e-file.lu for Luxembourg banks and credit institutions and we also began the implementation of AIFMD reporting services, which we will roll out at the beginning of 2014.

Supporting distribution in Asia

Next year, we will be looking at expanding the Fundsquare model outside of Europe.

As investment in UCITS is relatively widespread in Asia, this is the region in which we will begin. We are currently in discussions with local institutions in this respect.

All of these activities will be further enhanced by the move to our new building in January 2014.

Finally, in 2014 we will continue to listen to our users and clients and provide solutions that benefit the fund industry as a whole.

I wish you a joyful holiday season and a prosperous 2014.
 

Dominique Valschaerts
CEO, Fundsquare

Fundsquare News 5 - December 2013