The Tanaiste Mary Coughlan, Minister for Enterprise Trade and Employment, announced the establishment of FMC2 a new Science Foundation Ireland Strategic Research Cluster (SRC) on 14 October 2009. The Financial Mathematics and Computation Cluster (FMC2) with funding of €4.7 Million is a research collaboration between Industry, University College Dublin, Dublin City University, and NUI Maynooth. FMC2 will create a globally-leading centre of financial research which will provide a critical underpinning for the future development of, and employment growth in, the international financial services sector in Ireland.