A ground-breaking hedge fund site on the Internet has joined up with the Bermuda Stock Exchange to enable on-line trading.

The web page will create a place where hedge funds are valued in real time, will include Standard and Poor's daily risk reports and will trade on the BSX.

And according to the chief executive officer of the site, the project could boost trading in funds into a trillion dollar industry.

The new page will bring together Advent Software Inc, the Bermuda Stock Exchange, Ernst & Young and Standard & Poor's, at PlusFunds.com. on http:/www.plusfunds.com.

It will become the first hedge fund e-marketplace to supply real time performance information, independent risk transparency and securitised liquidity to the world.

The company said it had transparency and risk analysis to increase the marketability of hedge funds, and the final challenge was to provide a platform for liquidity.

A spokesman for the company said: "The answer was to standardise and securitise the participating hedge funds.

"A solution was therefore devised through a joint venture with the Bermuda Stock Exchange.'' PlusFunds chief executive officer Christopher Sugrue said: "PlusFunds.com is both a timely answer to the inherent barriers preventing the hedge fund industry from achieving full potential, and an engine capable of transforming the business.

"We believe PlusFunds.com will help hedge funds become a globally accepted asset class.'' Mr. Sugrue added that the company could potentially transform the hedge fund world from an estimated $350 billion "cottage'' industry to a $3 trillion global market relatively quickly.

The idea behind PlusFunds.com was conceived by Chris Sugrue along with the company's president, Diego Winegardner.

Both were experienced asset managers and money traders who saw that their industry was hampered by a lack of information transparency and a lack of liquidity.

They also saw special interests among information providers and a lack of an accessible global marketplace for both funds and investors. So they investigated ways to transform the industry and came up with the idea for PlusFunds. The site promises to provide real-time, independent performance data on hedge fund managers through third party verified Net Asset Values, combined with risk information and will be available in 10-languages.

To generate the site with the complex pricing and accounting engine necessary to generate real time Net Asset Values, the company turned to Ernst & Young, one of the largest service providers to the global asset management industry.