Finance Breaking news Luxembourg Stock Exchange acquires major stake in data handling startup Tetrao last financial news
Breaking-Finance.Com - The Luxembourg Stock Exchange has acquired a 22.8% stake in local data handling startup Tetrao.
Breaking-Finance.Com - The Luxembourg Stock Exchange has acquired a 22.8% stake in local data handling startup Tetrao. Using robotic cognitive automation, Tetrao’s technology simulates human behaviour to identify, read and understand complex information from websites and documents. Tetrao is already working with the Exchange on its LGX DataHub, collating 350,000 sustainability data points from 385,000 document pages, and with wholly-owned LuxSE subsidiary Fundsquare, for whom its provides daily documentation and relevant metadata on 85,000 instruments of the fund industry.“Data will only grow in importance going forward. The challenge is to find ways to collect and classify this massive amount of data through scalable automation," says Robert Scharfe, CEO of LuxSE.
. This is a strategic investment for the exchange, as data will drive our future growth.” The Luxembourg Stock Exchange is following the technology start-up landscape closely. In 2019, the exchange acquired stakes in Luxembourg-based start-up Startalers and London-based fintech Origin. Last year, LuxSE further increased its investment in Origin as other shareholders joined in a new funding round. The exchange is also one of the founding shareholders of FundsDLT, which completed its series A funding round in 2020.
Source = Breaking-Finance.ComFinancial breaking news