Wilshire Indexes selects Alveo’s Data-as-a-Service solution for corporate actions data quality management
26 September 2023 – Alveo, a leading provider of cloud-based market data management services, announced today, Wilshire Indexes, a leading global benchmark platform, has selected the Alveo Data-as-a-Service (“DaaS”) solution for corporate actions data management.
Alveo’s DaaS solution sources, cross-references, compares and validates corporate actions from multiple data vendors. In case of discrepancies, the Alveo DaaS offering provides root cause analysis and issue resolution. The result is a master feed for corporate actions that Wilshire Indexes uses as input for its index solutions. The scope of the service encompasses approximately 30 different corporate action types that impact security prices including splits, reverse splits, delistings and capital distributions including dividends.
Paul Grimes, Chief Operating Officer at Wilshire Indexes, said: “Having access to multiple sources of corporate actions data and a data quality management service is critical to developing our solutions to meet the new needs of global investors. We are pleased to work with Alveo to enhance our corporate actions data and further strengthen our efforts to transform the way investors use benchmarks to realize their objectives.”
Mark Hepsworth, CEO, Alveo said: “We are delighted to welcome Wilshire Indexes to Alveo’s growing customer base. Wilshire Indexes is a highly innovative, data-driven firm that – that like all of our customers – aims to make the most of its market and reference data. Wilshire Indexes uses a wide range of global corporate actions and we have worked closely with their operations team during implementation to improve automation and processes. Timely awareness and accurate corporation actions are essential to index providers and we are very pleased to be delivering the service.”
About Wilshire Indexes
Wilshire Indexes is a global benchmark platform that provides institutional investors, asset managers and retail intermediaries unmatched flexibility in solving benchmarking, portfolio construction, and risk management challenges. Transforming the way investors use benchmarks to meet their objectives, Wilshire Indexes provides global coverage of the markets through the leading FT Wilshire Index Series. Combining new technology and modular products in a growth-aligned commercial model designed for collaboration, efficiency, and speed to market, Wilshire Indexes offers a completely new way to work with an index provider.
Wilshire Indexes operates alongside Wilshire’s investment management, consulting, OCIO, and alternative asset businesses, which are separately known as Wilshire Advisors. For more information: Wilshireindexes.com
About Alveo
Alveo is the leader in market data integration and analytics solutions for financial services. Focused on optimizing data flows for business user self-service, we provide cloud-native data aggregation and data quality management that enables clients to easily access trusted data while maximizing their data ROI.
Through our managed services, we ensure that clients can smoothly onboard, prepare, and validate data for use in operations, trading, investment management, pricing, risk, reporting, and machine learning.
We service a global client base and our award-winning technology provides easy integration into business user workflows and a proven platform for advanced analytics. Through combining deep domain expertise with the latest open-source technologies, we help financial institutions ensure high-quality data, optimize market data cost, and maximize productivity.
*Please note: This press release was originally published under Alveo Technologies. As of the publication date, Alveo Technologies is now known as Prime EDM under Gresham. Any prior Alveo content has been updated to reflect Gresham's current branding and offerings.