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Wilshire Indexes Selects Alveo Data-as-a-Service for Corporate Actions Data Management

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Wilshire Indexes, provider of a global benchmark platform that helps institutional investors, asset managers and retail intermediaries solve benchmarking, portfolio construction, and risk management challenges, has selected Alveo’s Data-as-a-Service (DaaS) solution for corporate actions data management.

The Alveo 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 uses as an input for its index solutions. The scope of the service encompasses about 30 different corporate action types that impact security prices including splits, reverse splits, delistings and capital distributions including dividends.

“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,” says Paul Grimes, chief operating officer at Wilshire Indexes. “We are pleased to work with Alveo to enhance our corporate actions data and strengthen our efforts to transform the way investors use benchmarks to realise their objectives.”

Mark Hepsworth, CEO at Alveo, adds: “Wilshire Indexes is a highly innovative, data-driven firm that, like all our customers, wants to make the most of its market and reference data. It uses a wide range of global corporate actions, so we have worked closely with its operations team during implementation to improve automation and processes. Timely awareness and accurate corporation actions are essential to index providers.”

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