Wilshire Indexes has selected Alveo’s Data-as-a-Service (DaaS) solution to manage its corporate actions data quality.
Alveo’s DaaS solution sources, cross-references, compares and validates corporate actions from multiple data vendors. In case of discrepancies, the Alveo DaaS offers root cause analysis and issue resolution.
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.
Wilshire Indexes is a benchmark platform that provides institutional investors, asset managers and retail intermediaries unmatched flexibility in solving benchmarking, portfolio construction, and risk management challenges.
Paul Grimes, chief operating officer at Wilshire Indexes, says: “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.”
Mark Hepsworth, CEO of Alveo, comments: “Wilshire Indexes is a data-driven firm that aims to make the most of its market and reference data. [They use] a 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.”
