Wilshire Indexes, a premier global benchmark platform, and Alveo, a top-tier provider of cloud-based market data management services, have embarked on a partnership.
The essence of the collaboration is to leverage Alveo’s Data-as-a-Service (DaaS) solution for managing and enhancing corporate actions data quality, a pivotal aspect for Wilshire Indexes.
Wilshire Indexes is a renowned global benchmark platform that offers unprecedented flexibility to institutional investors, asset managers, and retail intermediaries. It revolutionises how investors use benchmarks to fulfil their objectives through the acclaimed FT Wilshire Index Series.
Alveo stands out as the industry frontrunner in market data integration and analytics for financial services. They are deeply vested in optimising data flows for a seamless user experience, facilitating clients to readily access credible data, ensuring maximised data ROI. Their services streamline the process of data onboarding, preparation, and validation across various financial functions.
Alveo’s DaaS is designed to source, cross-check, compare, and validate corporate actions using various data vendors. When inconsistencies arise, Alveo’s offering investigates the root cause and implements solutions. Consequently, Wilshire Indexes will use this polished feed for its index solutions, spanning approximately 30 corporate action types influencing security prices.
Wilshire Indexes works in tandem with Wilshire’s myriad of financial services, including investment management, consulting, OCIO, and alternative assets, collectively identified as Wilshire Advisors.
Wilshire Indexes Chief Operating Officer Paul Grimes 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 realise their objectives.”
Alveo CEO Mark Hepsworth said, “We are delighted to welcome Wilshire Indexes to Alveo’s growing customer base. Wilshire Indexes is a highly innovative, data-driven firm 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.”
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