Fundsquare will operate as a market infrastructure for investment funds. Its objective is to offer streamlined fund distribution processes for various actors in the fund industry and to provide solutions to the mounting cost pressures associated with stronger regulation and a tough economic climate.

From 1 July, as part of an initial phase, the company will begin with services for order management and fund information. Fundsquare intends to facilitate order placement and exchange of fund information whatever the domicile of the distributors and the investment funds.

The fund information available will range from pure static data to dynamic data such as NAVs, and distribution or tax figures and to documents such as KIIDs, prospectuses and factsheets. The order management service will incorporate the whole trade lifecycle on a real-time basis from the order to its acknowledgement and confirmation.

For the technical realisation of its order management services, Fundsquare has partnered with SWIFT and Altus.
Finesti is providing the information services and its commercial activities will be integrated into Fundsquare on 1 July 2013.

Dominique Valschaerts, CEO of Fundsquare, said, “We promised more than one year ago that we would be live on 1 July and this is now a reality. This is the culmination of many months of consultation and work with major transfer agents, asset managers and distributors. We are proud that Fundsquare has been developed by and for the industry. Looking ahead, we see great potential for growing the number of services that Fundsquare can offer to fund professionals.”