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.

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.”