Telefónica goes live with Alveo’s market data management solution for its corporate treasury and financial division

Alveo, a leading provider of cloud-based market data management services, announced today that Telefónica, one of the leading global telecommunications companies, has gone live on Alveo’s Prime market data solution for its corporate treasury and financial division data management.

Telefónica’s sophisticated corporate treasury function, financial transactions and processes requires accurate and timely market data for a wide range of purposes including hedge accounting, funding needs, financial reporting, validation and valuation of financial instruments. Opting for Alveo’s solution helps Telefónica meets these complex requirements.

Manuel Carreras Ferrer, Transformation and Change Management Manager at Telefónica, said: “We needed a new financial data repository for the firm. We use commercial data providers and different complex spreadsheets and needed to streamline the supply of market data into different business application. Alveo’s market data solution helped us with a centralised data repository for all treasury-required FX and interest rate data, improved our operational efficiency and lowered our total cost of ownership.”

Mark Hepsworth, CEO, Alveo, said: “We are delighted to welcome Telefónica to the growing set of Alveo customers. The market provider landscape for corporates is broad and includes reference websites, central bank portals and different commercial data feeds. It has been a pleasure working with Manuel and his team on the change management to review and improve on existing market data workflows.”

The process of collecting, aggregating and verifying this market data and ensuring it is anchored in treasury workflows needs to be robust, driven by regulatory scrutiny, accounting rules, product complexity and the need to limit operational risk. Easy management of all instruments of interest and any integration required, whether to Excel, BI solutions or treasury systems automates workflows and improves operational efficiency. Other than the data itself, documenting the data lineage as well as any business rules such as proxies used is a key requirement to achieve transparency into the data preparation workflows.

About Telefónica

Telefónica is one of the largest telecommunications service providers in the world. The company offers fixed and mobile connectivity as well as a wide range of digital services for residential and business customers.

The company operates in 12 countries Europe and Latin America. Telefónica has 383.1 million accesses and offers telco services and digital solutions in more than 170 countries via strategic partner agreements.

Our mission: we want to make our world more human by connecting people’s lives.

About Alveo

Alveo is the leader in market data integration and analytics solutions for financial services. Focused on optimising 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